This climate change reading list is brought to you by the Sustainability Board. It gives suggestions for reading, with some brief commentary to help contextualise the items suggested. This is part of the IFoA's commitment to support actuaries in their understanding of climate risks and opportunities, and to encourage the incorporation of these risks and opportunities into actuarial advice. I hope you find it useful.
Nick Spencer, Chair of the Sustainability Board
The reading list guide I wrote is meant to help actuaries “help their clients before their clients ask”. Climate change is the biggest actuarial business opportunity of the decade!!
This guide curates links to a range of material each with a brief description to help the reader decide whether the linked material is relevant to their current stage of research and learning.
Climate change is an extensive subject and many of the items referenced in this guide will have further references that can be explored as the reader decides. An immense amount of work is taking place in this area. This means that the references included in this guide will soon be followed by yet-to-be published work. It is hoped that by using this guide, the reader will then be able to follow more recent developments in their areas of interest.
In some sections we have included a suggestion for a link you might like to start with, labelled Editor’s choice.
The wider horizons climate change reading list guide includes ten sections which are available to view individually on our web pages or download as a PDF:
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We’ve all heard about the gender pay gap. Sadly, the gap doesn’t just exist with base pay.
Research carried out by Legal & General in 2021 across the four million members in our Defined Contribution (DC) pensions, found that there’s a gender pension gap too, continuing the divide between men and women.
As current global events continue to demonstrate, geopolitical tensions present significant risks to corporates of all sizes. However, these types of risk are often not given the discussion time it needs at the board level or executive committee levels, nor the resources required to anticipate, analyse and mitigate them effectively.
At retirement, it has become very popular for those with Defined Contribution (DC) pensions to choose drawdown rather than an annuity, but drawing a sustainable lifetime income in this way is an impossible challenge for most people. We consider a Decumulation Pathway for the typical consumer, where a small part of the DC fund is set aside for any flexible access and legacy requirements. The bulk is then used to provide a lifetime income, utilising the pooling or insuring of longevity risk.
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; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.
In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.
The Business of the AGM
Join newly inaugurated IFoA President, Matt Saker, for his Presidential Address.
We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.