Biodiversity is being lost at an unprecedented rate (a mass extinction). The economic or financial impact of this loss is unknown. There is an increasing amount of work focusing on how business and government decision-making can account for biodiversity through concepts such as natural capital valuation. This is an important topic on which there has been little actuarial discussion. The Biodiversity & Natural Capital Risk Working Party will include (contested) concepts such as natural capital and valuation of ecosystem services. This is a crucial focus for the draft Environment Bill in the UK Government and so a significant increase in policy and regulation is expected to follow on from this Bill.
The Biodiversity working party has formed four subgroups to consider a range of Biodiversity issues including Zoonotic disease / Covid-19, natural capital, valuation metrics, and justice.
Planned outputs:
- An education of actuarial volunteers on natural capital valuation approaches and biodiversity
- An informed input into DEFRA and/or UN consultation on the role of, or impact to, business from biodiversity changes
Outputs
- Blog: Nature-related risks and opportunities: commonly used terms and definitions - Published August 2022
- Blog: Comparing nature-related and climate-related risks - Published August 2022
- Blog: Assessing nature-related risks - Published September 2022
- The importance of biodiversity risks: Initial position paper
- The importance of biodiversity: link to zoonotic diseases paper
- Introduction to biodiversity valuation tools paper
- Natural capital – an actuarial perspective paper
- Biodiversity & justice paper
- Biodiversity curated library or resources: Biodiversity | Institute and Faculty of Actuaries
- Blog: Biodiversity Risk, Natural Capital and actuarial practice
- SDG Podcast: Biodiversity with Aled Jones
Chair | Aled Jones |
---|---|
Membership | 7 |
Established | 2020 |
Related documents
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Guidance for Member-Led Research Working Parties
9 November 2017
Contact Details
If you want more information about this research working party please contact the Communities Team.
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