How do we build back better
Code: R&E1
Lead: Simon Jones
Detail: How do we reboot the economy and what should we/could we do differently? What are the overlaps/comparisons with Disaster Recovery and is there anything that can be learned from previous experience? What should the role of government be in this? What are the practical impacts that we could have? This affects actuaries as users of economic models but also affects the narrative for change that has been championed by the R&E Board.
Outputs: pending
What are the consequences of ignoring the boundary between the environment and humanity
Code: R&E2
Lead: Simon Jones
Detail: Interconnectedness, systems thinking, doughnut economics, planetary limits. Are we straying beyond other limits and could this all happen again? What do actuaries need to know. How does all this link to the SDGs?
We discussed the potential links from this area to the biodiversity WP.
Outputs:
- What is the goal as we build back better from the aftermath of COVID-19?
Josephine Robertson, MA FIA CERA MPH, with inputs from the workstream, discusses the importance of revisiting the definition of goals we strive to achieve while we rebuild our post-pandemic societies.
- Problems with targeting GDP growth
James Fisher, with inputs from within the COVID-19 workstream, discusses the potential drawbacks of using economic growth as the primary lens through which government policy decisions are made.
- Bringing sustainability to the forefront of COVID-19 recovery
Sheel Shah and Madhuri Kumar discuss redefining goals so that recovery from the pandemic is sustainable, resilient and equitable, and one that doesn’t ignore the planetary boundaries between humanity and the environment.
How do actuaries take individual ownership for considering R&E issues
Code: R&E3
Lead: Sandy Trust
Detail: Covid-19 has taught us that extreme outcomes can arise. How do we change behaviours (amongst actuaries) at a personal and professional level such that we start to consider such issues? Further, how do we get actuaries to think about things that are outside their comfort zone? Can we develop tools or communication mechanisms that are simple to convey to actuaries to help them consider R&E issues in their work that could be socialised widely? Need to be clear on the messages we want to convey before thinking about the vehicle through which they are conveyed.
Outputs: pending
What can we learn from Covid-19 numbers that could inform the future consideration of R&E issues
Code: R&E4
Lead: Simon Jones
Detail: There have been lots of numbers on things like emissions published over the last 4-6 weeks, but could also think about things like supply chains, food etc. What do they tell us about the scale of the change we have seen and the scale of the change that we need to see? How relatable or widely known are these numbers?
Outputs: Blog: Communicating actuarial concepts with real-world examples from the COVID-19 pandemic
Andrea Munley, GI Actuary, with input from within the COVID-19 workstream, demonstrates how real-life examples from the COVID-19 pandemic can be used to bring actuarial concepts to life in a simple way for a wide and diverse range of audiences.
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