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Sustainability Board update - January 2022

Jenni Stott provides an update on the latest Sustainability Board activities.

2021 had been a massive year for Sustainability and the IFoA Sustainability Board always knew that the 2022 agenda going to be bigger, so was hot to trot with its first meeting on 12 January 2022.

The conversation centered on

  • how to keep the momentum
  • where to focus and
  • how to keep engagement high across all the Actuarial and other communities.

First out of the blocks was an update by one of the research teams sounding the Board out on Net Zero, a paper that is nearing completion. This is shaping up as an important document to help actuaries frame conversations with their clients (internal or external) on what Net Zero means and help them navigate various initiatives and frameworks. Some great work, which is now being penned for completion. Thanks to Brandon, James, and your team for all the hard work.

Sandy Trust not only has time to do a day job and run the Sustainability Board, but he also found time to write a thought leadership/policy paper. The aim of his paper is to give direction to wider Actuarial Professional consideration of climate risk and what more might be needed given the external (global) debate. His draft prompted a great discussion and feedback, all directed towards having a positive impact in a proportionate way. A great subtitle (“Evolve or die”); which I for one hope retains its place as the paper matures and goes into wider syndication.

Covid-19 is still stopping us meet in person but it’s not stopping the Board from having meaningful chats during the break. 

  • John – where was the background music to accompany coffee? Rock or pop next time, please.
  • And if and when you dunk a biscuit into a cup of tea it falls in… from a Net Zero perspective is that the same outcome or not? Inconclusive debate.

Deep Dive: Education Portfolio

January saw a deep dive on education and hats off to Patrick Cleary for the progress they are making with three initiatives to continue to drive momentum in this area:

  • Film school – producing a series of short films to bring sustainability to life for actuaries.
  • Extending online communities– watch this space
  • Senior actuary climate workshops – working with practice boards to set up peer to peer learning sessions

Other topics

  • Marcus shared the proposed Research topics for 2022. Pretty much there, these will shortly be going out to volunteers so they can get involved. 
  • A massive shout out to Sara and Thrinayani who have now completed the setting up of the Early Careers Board. A huge step forwards, as we put in this formal way of getting member views from this important section of our community.  There are 10 talented individuals joining this group: “Welcome” to you all, and I for one am excited to see how your group develops and influences the thinking going forwards.

In addition, there were updates from all the workstreams to check in on progress and get advice.

A great start to 2022. Thank you to everyone involved. And see you soon.

 

Find out more about the IFoA Sustainability Practice Board activities

Find out more about Sustainability and Lifelong Learning