Wed 26 Jul 2023 - Since 1970, the Earth’s wildlife populations have fallen by almost 70% – a result of deforestation, excessive human consumption, and life-choking pollution. Significant impacts are now found across 75% of the global land surface and 66% of the global ocean area and over 85% of wetlands have been lost. One million species are threatened with extinction. And whilst the Economist have upped their dependency estimations to nearly 50% of our economy and class biodiversity loss as a top 5 global risk - can any of our economy exist without food, oxygen or water?
The trajectory and impact of biodiversity loss are uncertain. The consequences are projected to be large, although the timings and exact outcomes are unknown. The financial consequences, arising from physical and transition risks are also likely to be large. Thus, Biodiversity and Nature-Related Risks is a critical topic for actuaries to understand and embed in their work.
This webinar will formally launch the new Institute and Faculty of Actuaries' Biodiversity and Nature-Related Risks (BDNRR) Policy. The session will explore:
This webinar is part of a broader program of efforts that is extremely timely and extremely relevant to all actuaries.
Biodiversity and nature-related risks for actuaries: An introduction by Lucy Saye FIA, CERA, BVetMed MRCVS
Explore biodiversity resources at the IFoA on our biodiversity lifelong learning page.
Professor Aled Jones is the inaugural Director of the Global Sustainability Institute (GSI) at Anglia Ruskin University. The GSI is an internationally recognised research institute, with a group of 40 individuals. Prof Jones’ work in climate finance has been recognised by the State of California and he has received a key to the city of North Little Rock, USA. He is a Co-Investigator on the ESRC Centre for the Understanding of Sustainable Prosperity (CUSP), the AHRC Debating Nature’s Value network and the UK Government funded Economics of Energy Innovation and System Transition.
Prof Jones’ research particularly focusses on the finance sector and government and how they will respond to the impacts of global resource trends, biodiversity loss, and climate change. He was made an Honorary Fellow of the Institute & Faculty of Actuaries in 2018. He chairs the Biodiversity Working Party on behalf of the Institute. Prof Jones has a PhD from the University of Cambridge.
Chair of the IFoA Sustainability Board and member of the Economics Member Interest Group
Lucy is a dual qualified actuary and veterinary surgeon and chair of the IFoA sustainability board. She works in the Actuarial, Insurance and Banking team at Deloitte focusing on sustainability for insurance clients.
She co-authored a report on climate change tipping points for the IFoA and is the author of the IFoA's biodiversity practical guide.
Senior Consultant Milliman
Nick is a sustainability risk and strategy advisor with over 30 years of experience across 20 countries. He helps insurers, pension funds, and investors understand and embrace the complexity and uncertainties that we all face in sustainability. He leverages systems thinking to develop decision-useful scenarios and to identify pragmatic actions that build resilience to key goals and thus help create solutions for a world at risk.
Nick is a prize-winning thought leader on integrating climate risks into actuarial work and the author of practical guides for climate, biodiversity and inequality. He is past Chair of the member of the IFoA Sustainability Board, a past IFoA Council Member and leads the IFoA Biodiversity Scenario Workstream.
He is a member of Milliman’s Climate Resilience Initiative (MCRI), and an advisory board member for Pensions for Purpose and the A4S Natural Capital Guide. He is an Ambassador for the Diversity Project.
Matt has 30 years of experience working as an actuary in the life and general insurance industry. After a long career at Watson Wyatt, Matt joined Aviva in 2009 where he held the role of Group Chief Actuary until January 2022.
Matt’s responsibilities in this role covered all aspects of the Group’s actuarial methodology in respect of both Life and General Insurance. In addition, Matt led the development of data science and the embedding of climate risk within Aviva’s Risk management Framework. Matt plays an active role in the UK actuarial profession and was elected to the Council of the Institute & Faculty of Actuaries (IFoA) in 2016, before joining the Regulation Board in 2018.
More recently Matt has been closely involved in the profession’s response to climate change, the development of the IFoA’s Diversity, Equity & Inclusion strategy.