The war against your own brain: cognitive biases and climate change

Tue 25 Jul 2023 -
13:00 - 14:00

As regulation and general cultural trends head towards a net-zero world, the question is raised as to why some companies and investors may be slower to react than others. Our brains have a predisposition to perceive information through a filter of personal experience and preferences; therefore, ‘rational’ decisions may be overlooked in preference to more familiar or automatic thinking. In the context of climate change this means that we may have some bizarre reactions to the risks we face and the solutions we adopt.

In this talk, we will explore:

  • the underpinning psychology
  • how identifying biases can facilitate the journey to net zero
  • some examples of the unusual reactions to the climate crisis
  • approaches for challenging these biases, both internally, with clients and with consumers
  • how the actuarial profession can provide stewardship in this area.

Read Nicola Kenyon’s blog on this topic: Cognitive bias as a barrier to tackling climate change

Watch the recording

Featured Speakers

Nicola Kenyon is Head of Insurance Investment and ALM at Hymans Robertson. She has responsibility for co-ordinating all work related to credit risk, illiquid assets, market risks, investment strategy, SAA, ALM and ESG/responsible investment.

Nicola has a wide range of experience in the life insurance industry with previous roles spanning reporting and ALM at Aviva, debt origination and ratings advisory at TradeRisks, Solvency II approvals, internal credit ratings and illiquid assets at PwC and, most recently, in looking to establish a later-life lending business.

Scott McGruther-Johnson is a Consultant in Hymans Robertson’s Insurance and Financial Services practice. He has a particular focus on risk and capital, and investments and asset liability management. He has experience working on a variety of projects including data migration, remediation and model development.

Before joining Hymans Robertson, Scott spent nine years working for outsourcers in the life and pensions industry with experience in conventional, unit-linked and with-profits books of business.

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