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IFoA (and other actuarial) climate-related publications

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               Climate Change for Actuaries is an introduction to the topic.
 
The IFoA formed a Resources and Environment Board some years ago. Much of its work relates to climate issues. Recently, the board has been renamed the Sustainability Board. The weekly Sustainable Finance Community updates are a useful resource. Please contact sustainablefinancecommunity@gmail.com to join the distribution list.
 
In May 2017 the IFoA issued a Risk Alert on climate, drawing actuaries’ attention to a risk that is central, and would become increasingly so, to many actuaries’ work. Climate change is covered in the JFAR Risk Perspective 2019/20 published by the Joint Forum on Actuarial Regulation.
 
Climate Change for Actuaries is an introduction to the topic, first published in March 2019 and revised in July 2020. Several practical guides have been issued for Life actuaries, GI practitioners and Actuaries working in DC Pensions.
 
Climate change was the topic for the first issue of the Intergenerational Fairness Bulletin.
 
Climate scenario analysis for pension schemes is covered in A UK case study and the accompanying An illustration of potential long-term economic & financial market impacts.
 
 
Reporting Practices analyses climate risk reporting by UK insurers and pension schemes.
 
The risk of climate ruin addresses the issue: How large a risk is society prepared to run with the climate system?
 
A user guide to climate-related financial disclosures was produced by the IFoA working with the Institute of Environmental Management & Assessment (IEMA). The guide seeks to assist users of financial disclosures to make the best use of them. The Q&A format is intended to stimulate challenge and discussion. The guide looks to support the TCFD recommendations as their adoption delivers major change.
 
The IFoA has a formal link with the Oxford Smith School of Enterprise and the Environment. An IFoA representative sits on the Global Advisory Council of the Sustainable Finance Programme. Initially, this programme was narrowly titled Stranded Assets but after some years was renamed to reflect the broader scope of work that developed. The Sustainable Finance Programme publishes a wide range of research and is a lead institution in a number of networks.
 
A recent development is spatial finance, the integration of geospatial data and analysis into financial theory and practice. Here, the Smith School founded and works through the Spatial Finance Initiative, which aims to mainstream geospatial capabilities.
 
The IFoA has a formal link to the Centre for the Understanding of Sustainable Prosperity (CUSP). As the name suggests, their work includes, but goes well beyond, climate change issues.
 
 
Written from an Australian perspective, Net-zero Emissions: What are Governments and Companies Doing? discusses what actions are being taken around the world.
 
In North America, several actuarial bodies have come together to produce the Actuaries Climate Index. Australia has followed suit with the Australian Actuaries Climate Index. You can see a note on climate change for Australian Appointed Actuaries online.

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Events calendar

  • Spaces available

    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

  • Spaces available

    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.

  • Actuarial Innovation in the COVID-19 era

    This event is online. 
    26 April 2021 - 7 May 2021
    Spaces available

    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.

  • Spaces available

    This event is also repeated on Tuesday 27 April, 09.00-10.30. Please click here to register your place if Tuesday is your preferred choice.

    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.

  • Europe Town Hall

    28 April 2021

    Spaces available

    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.

  • Spaces available

    Sessional Meeting - Free to viewMis-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

  • Finance & Investment Virtual Conference 2021

    Available to watch globally in May.
    10-12 May 2021
    Spaces available

    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

  • Spaces available

    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.

  • Spaces available

    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.

     

  • CILA 2021

    Available to watch globally in May.
    19-21 May 2021
    Spaces available

    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.

  • Pensions Conference 2021

    Online webinar series
    16-22 June 2021
    Spaces available

    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.