IFoA sponsors Foreign and Commonwealth Office report on risks of climate change

The Institute and Faculty of Actuaries (IFoA) is pleased to sponsor a report commissioned by the Foreign and Commonwealth Office on the risks of climate change, which is designed to support political leaders in deciding how much priority the issue should be given.  The report was launched by Baroness Anelay at an event at the London Stock Exchange on 13th July.

Fiona Morrison, President of the IFoA, commented: 

“As the report shows, adapting to, and mitigating the risk of, climate change is of vital importance for governments. One of the most important goals of climate change policy should be to recognise the possibility of very bad outcomes and a full risk assessment of all possibilities is the best way to achieve this. As actuaries, we see good decisions as being based on exploring difficult scenarios and using this information to mitigate risk. This report will be a very useful tool in assessing the important risk factors that need to be considered and the existential implications, in the coming years, of an increase in global temperature.”

• View the announcement on the FCO website
• Download the report 

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For further comment or to answer any questions that you may have please contact Annette Heninger, Media Relations Manager at the IFoA, on 07525 592 198 or by emailing annette.heninger@actuaries.org.uk.  

Editorial notes:

About the Institute and Faculty of Actuaries

The Institute and Faculty of Actuaries (IFoA) is a royal chartered, not-for-profit, professional body. 

Research undertaken by the IFoA is not commercial.  As a learned society, research helps us to fulfil our royal charter requirements to further actuarial science and serve the public interest.  

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.

Members of the IFoA 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.

Members are governed by the Institute and Faculty of Actuaries. 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 actuaries in society.