The Sustainability Board is made up of senior volunteer actuaries, drawn from a variety of practice areas, with experience or interest in environmental matters. It is the senior committee that advises the Institute and Faculty of Actuaries (IFoA) on important environmental issues.

Goal:

The IFoA Sustainability Board seeks to create meaningful engagement by all actuaries, their clients and wider stakeholders in understanding, and then in addressing, the uncertainties for economic and financial systems arising from climate change and other sustainability issues. The Board seeks to be a centre of expertise and leadership for the IFoA in climate change and other sustainability issues and aims to help identify, educate and raise awareness of the need for such issues to be addressed.

The Sustainability Board will work to meet the above through pursuit of the following key objectives:

Board Objectives

  • Equip current and future actuaries with the knowledge, skills and tools to embed climate and sustainability risks into all actuarial practice;
  • Articulate the potentially cataclysmic systemic risks; engaging with stakeholders, policy makers and regulators to influence them to take the urgently needed financial market and real economy actions;
  • Support actuaries working in specialist sustainability fields in their practice and, in turn, seek to encourage such actuaries to contribute to the ongoing development and understanding of environmental issues within the IFoA;
  • Engage with the IFoA Council, Executive and Management Board to ensure that issues identified by the Board are appropriately recognised and actions are sufficiently prioritised and that the broader strategy of the IFoA is encapsulated within the work of the Board.

Until July 2020, the Sustainability Board was known as the Resource and Environment Board.

Are you looking for guidance on climate change?

The Sustainabilty Board curates a climate change resource library with relevant and current information for actuaries.

Board updates

IFoA Climate Change Statement

Read the new IFoA Climate Change Statement.

Sustainability Board 2020/2021 membership:

Board members

  • Nick Spencer (Chair)
  • Sandy Tust (Deputy Chair)
  • Simon Jones (Chair - Immediate Past)
  • John Bayliss
  • Russell Bowdrey
  • Patrick Cleary
  • David Ford
  • Shyam Gharial
  • Joe Kennedy
  • Wendy Kriz
  • Amanda Latham
  • Melissa Leitner
  • Neil Mitchell
  • Alasdair Mullins-Smith
  • Darko Popovic
  • Lucy Saye
  • Wendy Walford

Supernumeraries

  • Thrinayani Ramakrishnan
  • Sara Ronayne
  • Rosalind Rossouw
  • Mike Sher

The Board operates within a Terms of Reference.

The Sustainability Board is supported by one specialist sub-committee:

The Sustainability Board is dedicated to raising awareness of environmental issues that effect actuaries in various practice areas across the world. 

Many environmental issues have a global impact and the Sustainability Board is keen to work with IFoA members across the world. It also supports the work of the International Actuarial Association Resource and Environment Working Group.

The Sustainability Board builds on the work conducted by the former Resource and Environment Member Interest Group (MIG).  The research and activities that were undertaken by the MIG are now conducted by the Resource and Environment Board. The Board supports a number of working parties, the Sustainable Development Goals MIG and it the Practice Board sponsor of the IFoA’s Financial Systems Innovation Centre ( FinSTIC).

How to join the Sustainability Board

All vacancies arising on Boards and their sub-committees are advertised on our volunteer vacancies web page.  Further information for volunteers, including tips on how to chair a meeting, can be found in the Volunteer Information Pack (VIP).

Contact Details

If you have any questions about a practice area, its working parties, Member Interest Groups or Board and sub-committees, please contact the Communities Team:

professional.communities@actuaries.org.uk

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Events calendar

  • Finance in the Public Interest Series

    16 March 2021 - 23 March 2021

    Spaces available

    There is widening debate that many of our social, financial and regulatory institutions need to be rethought so that we can create more sustainable futures, particularly in light of the Covid-19 pandemic, the policy/macro-economic response to the pandemic and how it affects consumers, as well as the impending climate crisis. This multi-day series of three keynote webinars, individually presented by leading economist John Kay, Sir Paul Collier, Professor of Economics and Public Policy at the Blavatnik School of Government, Ashok Gupta, Chair at Mercer Ltd, and Nico Aspinall, Chief Investment Officer at B&CE, will open up discussion on these essential topics. The series will culminate in a panel session with Chief Economist of the Bank of England, Andy Haldane.

  • The price is righter

    16 March 2021

    Spaces available

    This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.

  • Spaces available

    This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)

     

  • Spaces available

    What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code? How does effective stewardship create long term value for beneficiaries and what roles do asset owners and asset managers play in active stewardship. This webinar will offer answers to these questions in a practical approach to stewardship reporting.

  • Spaces available

    Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis.  However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year.  This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work.