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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

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Fully booked.

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    The importance of biodiversity for finance, business and policy is being increasingly recognised. While many studies highlight the overall economic impact that biodiversity loss could have, it is much more difficult to quantify and understand the particular impact that is may have on individual businesses or communities. The management and measurement of these risks is a field where actuaries are well placed to contribute.

  • Spaces available

    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

  • GIRO 2021 Webinar Series

    Online
    8 November 2021 - 19 November 2021
    Spaces available

    Join leading experts to discuss key issues, emerging ideas and new research across the general insurance sector.

  • Spaces available

    This is a free webinar with an expert panel providing their views on the ongoing IFoA consultation for proposals regarding changes to the regulatory framework on climate change and sustainability.

    The regulatory consultation sets out, for feedback some proposed approaches that the IFoA are considering in relation to charter commitments under the UK’s Green Finance Education Charter (GFEC) and the regulatory framework, including the Actuaries’ Code.

  • Life 2021 Webinar Series

    Online
    22 November 2021 - 26 November 2021
    Spaces available

    Join leading experts to discuss key issues, emerging ideas, and new research across the Life insurance sector.

  • Spaces available

    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.