With rapid changes from technological advancement, demographic shifts, and a resource-demanding standard of living in the developed world, we face a number of unprecedented global risks with the potential of severely affecting billions of people. Actuaries can draw upon their risk-management expertise to identify the potential range of environmental risks, both short and long-term, and the subsequent means for mitigating or adapting to them.
Climate related risk may be the defining risk of our times. Actuaries have an important role in assisting others to mitigate the worst effects of climate change. These include not only the long-term catastrophic risk to the world, but also the costs and risks to companies of transitioning to a low carbon environment which, even now, are impacting company results and are becoming subject to disclosure requirements.
Louise Pryor - IFoA President Elect
Sustainability Policy Papers
Climate Change Consultations
Taking action on climate risk: improving governance and reporting by occupational schemes – response and consultation on regulations16 March 2021
- 24 August 2020
- 22 April 2020
- 19 March 2020
- 28 February 2020
- 26 July 2019
IFoA response to underwriting environmental, social and governance risks in non-life insurance business25 July 2019
- 11 March 2019
- 31 January 2019
- 15 January 2019
IFoA response to EU Commission- Public consultation on institutional investors and asset managers' duties regarding sustainability22 January 2018
- 5 July 2019
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Louise Pryor, IFoA President, will chair this free-to-view session, in which Alex Darsley, TPR, Actuarial Regulatory Policy, will be discussing the regulator’s Climate Change Guidance Consultation, which is seeking views on new guidance designed to help trustees meet tougher standards of governance in relation to climate change ri
Internal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible? This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.
Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.