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:
- 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.
- Sustainability Board update - March 2021
- Talking Sustainability with Louise Pryor - January 2021
- Talking Sustainability with Nick Spencer - December 2020
- Climate risk related taskforce report - November 2020
- September 2020: R&E Board renamed to Sustainability Board: New name, same purpose and the 2020 Chair’s Themes
- Resource & Environment Board: Strategy for 2020 and beyond
- July 2020 - All systems go : An update from Simon Jones
IFoA Climate Change Statement
Read the new IFoA Climate Change Statement.
Sustainability Board 2020/2021 membership:
- Nick Spencer (Chair)
- Sandy Tust (Deputy Chair)
- 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
- Gilli Engel - Council Representative
- 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).
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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:
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Wicked Problems, Clumsy Solutions and Leading Change
Dr Catherine Donnelly will present the basics of the structures for pooling longevity risks and summarise recent research results in this area in addition to outlinging future research around this topic. This is work under a research programme funded by the IFoA's Actuarial Research Centre, called 'Minimizing longevity and investment risk while optimising future pension plans'.
Climate-Related Risk - This free to view webinar on Climate-Related Risk is the first in a series focusing on some of the ‘Hotspots’ identified in the JFAR Risk Perspective bringing the Risk Perspective to life with practical illustrations and insights from subject experts from the IFoA and other Regulators
Recent decades have seen institutions, such as employers and financial services, give people more choice and flexibility, but these freedoms have come with more responsibilities. Individuals are now responsible for managing more of their own financial risks, from ensuring they put enough money into their pension to securing affordable protection to be financially resilient.
Join us for this brand new IFoA webinar weries comprising of a fortnight of webinars, panel sessions and a hackathon, that showcase the range of ways in which the actuarial profession has added value, in the public interest, to the understanding and management of the current and future pandemics through insight and learning.
This event is now temporarily closed on Monday 26 April, but the session will be repeated on Tuesday 27 April, 09.00-10.30. Please click here to register your place.
Actuaries have a lot to offer biodiversity management over the next decade as the world develops more depth to its response to this global challenge. This sessional offers an opportunity to learn about this emergent risk, to contribute to our thinking as a profession and help us develop the next steps forward.
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Europe Town Hall, hosted by John Taylor with IFoA Council Members Alan Rae, Jennifer Hartley, Maribel Vasquez Flores and IFoA Chief Executive, Stephen Mann.
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
This year's Finance and Investment Virtual Conference takes on the timely theme of ‘resilience’, something we have all learnt a lot more about in the last year! Our diverse range of talks will explore the theme of resilience in a variety of ways including in building robust investment portfolios, in the incorporation of ESG factors, in govern
This talk will explore the potential benefits that wearable tech can bring to health & protection insurers and their customers. The traditional approach of integrating wearables into insurance has largely focused on measuring steps and using rewards-based incentive programs to encourage more activity.
Join us for this talk with Professor Sir Adrian Smith as part of the 'Dr Patrick Poon Presidential Speaker Series'. Professor Smith joined The Alan Turing Institute as Institute Director and Chief Executive in September 2018. In November 2020, he became President of the Royal Society, in addition to his leadership of the Turing. He is also a member of the government's AI Council, which helps boost AI growth in the UK and promote its adoption and ethical use in businesses and organisations across the country. He received a knighthood in the 2011 New Year Honours list.
We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.
Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.