Sustainability relevance to other practice areas

Foremost amongst these is climate change, an existential threat which has implications for existing practice areas such as:

• pension actuaries in terms of the potential impact on investment values, investment returns, funding strategies, mortality and demographics, and sponsor covenants
• general insurance actuaries in regard to climate-related property claims, business continuity risks, liabilities to third parties and for insurers of directors and trustees
• life and health actuaries in regard to investment values and trends in mortality and morbidity
• finance and investment actuaries in terms of the impact on investment risks, returns and hence strategy, and the development of innovative investment vehicles to assist in climate change adaptation and mitigation
• risk management in developing methodologies to recognise the impact climate change could have on insurance products, markets, reserving and regulation.

The IFoA issued a Risk Alert in May 2017 on these issues.

The Resource and Environment practice works closely with all other practice areas in responding to these issues.

Watch the videos below to hear more about the relevance of Resource and Environment to other practice areas: