Tue 17 Jan 2023 - Climate change is a major challenge for society, with the potential to affect all pension schemes in multiple ways. When advising clients, legislation, regulation and other market pressures increasingly require climate change to be considered. But while ESG is a familiar consideration in the investment area, pension scheme actuaries may be less familiar with thinking about climate change when speaking to trustees and employers.
In this webinar we will explore the various ways pensions actuaries have a role to play in relation to climate considerations. This will include sharing expectations of trustees, understanding potential impacts on key assumptions (such as mortality), the importance of working with other advisers (especially covenant advisers), and how a scheme actuary can help bring it all together.
Key terms will be explained and you don’t need to be a climate expert to attend.
Mike Clark is Founder Director of a responsible investment advisory firm. Mike represents IFoA on the Advisory Council of the Oxford's Smith School. He spent nearly four years as a NED at Brunel (LGPS). He was Specialist Adviser to the House of Commons Environmental Audit Committee for their 2018 green finance inquiry. He continues to be involved with the work of select committees, including on LDI.
Mike was a member of the team that built what became GFANZ. He had over 20 years at Russell Investments, and roles prior to that included Head of Fixed Income at a major insurer. He is a member of too many IFoA climate-related working parties, and is surprised to realise he started work 50 years ago this September!
He curated the IFoA climate reading list. Much of his work across the financial system focuses on the financial risks of climate change, and the uncertainty which lies “beyond risk”. He is currently trying to persuade the Bank of England that the current CBES scenario modelling is not fit for purpose! Victory is assured, he says, but is some way off…