You are here

My account » Actuaries address climate change and natural resource risks » »

8 June 2010

Leading actuaries are calling for more explicit incorporation of climate change scenarios and the effects of natural resource rarefaction in long-term business planning. 

Actuary Simon Brimblecombe, a member of the Actuarial Profession’s resource and environmental group, will be discussing possible future scenarios at the Profession’s annual pensions conference, 9-11 June, Celtic Manor, Newport, Wales.

Mr Brimblecombe said: “Extreme weather events and global temperature change are risk management issues. The most immediate impacts are likely to be peak oil and the end of cheap energy. The UK will face an energy shortage in the next few years. This, and expected energy price increases, have not been factored in as they should be.”

Actuaries Valentina Rocchi, Vanessa Hodge, and Mr Brimblecome will present scenarios for the year 2050 in an interactive session.

“What will be the impact on pensions if there is an average rise in temperature of three degrees by 2100? Actuaries are well placed to address this because we have a long-term outlook and we understand risk,” he said.

Mr Brimblecombe will participate in the workshop via Skype from his office in Switzerland.

-- ENDS --

Enquiries: Tel. Liz Bury on 020 7632 2181 or email elizabeth.bury@actuaries.org.uk

Notes to Editors

  1. Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.
  2. Members of the Profession have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s.
  3. The Profession is governed jointly by the Faculty of Actuaries in Edinburgh and the Institute of Actuaries in London. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of the Profession in society.
  4. The Profession is available to provide expert comment to the media on a range of actuarial- related issues, including enterprise risk management, finance and investment, general insurance, health and care, life assurance, mortality, and pensions.

Further information on the work of the Profession can be found at www.actuaries.org.uk