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 Ario Advisory, a responsible investment advisory firm. Working mostly across the finance sector in the UK and elsewhere, Mike’s work focuses on climate and, currently, systemic risk (two types: societal vs financial).
He is a Visiting Fellow at the University of Exeter, and a member of the IFoA Lifelong Learning Risk Committee. One of the authors of the USS/Exeter No Time To Lose narrative climate scenarios, he is also one author of the more recent CMP (Climate Majority Project) set of 3 narrative climate scenarios for insurance.
He views the investment aspects of fiduciary duty through a Risk/Opportunity lens. Pension actuaries might wish to consider the implications of the Great Abandonment scenario, where insurance seems to reside at present, and the implications for their clients’ (and their own!) fiduciary duty.