Wed 23 Mar 2022 - Last November's COP26 summit resulted in a host of pledges from governments around the world, including almost 200 countries agreeing to the ‘Glasgow Climate Pact’ to accelerate global climate action. Its Private Finance agenda focused on building a system that mobilises private finance to support the re-engineering of our economies for net zero. This spotlight on finance emphasises the need to embed climate considerations in actuarial work and advice. It also provides opportunities for the profession to support clients in meeting new climate reporting requirements and navigating the net zero transition.
During this event we will:
Sara is an actuary at the Government Actuary’s Department (GAD) where she has worked since 2014. Over the last few years climate change risk management has become an increasing focus in her work at GAD. She has supported several government departments with climate-risk related projects and workstreams and recently spent 3 months seconded to HM Treasury’s COP26 Private Finance Hub in the run up to the COP26 summit in Glasgow. Read this blog to find out more about her COP26 experience. She is active as a volunteer for the actuarial profession, and is currently a member of the IFoA Sustainability Board and co-chair of the IFoA Sustainability Early Careers Board.
John is an actuary with a varied background in pensions and investments. He is also a CFA charterholder, and has recently completed the CFA ESG module. John has worked for the Government Actuary’s Department for the last seven years, currently leading on Business Development across the large department that sponsor Public Service Pensions Schemes, with a particular focus on DLUHC and Cabinet Office. John spent 19 months on secondment at UKGI, heading up the student loans modelling team there. Prior to joining GAD John spent 12 years in Australia and 2 years in New Zealand before that, having previously qualified as an actuary with Aon Consulting in the UK. John has been a member of the IFoA Sustainability Board for the last three years, with a focus on education for both trainee and qualified actuaries. He is a keen cyclist, squash player and runner; a foodie and wine lover; traveller and francophile.
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.