Wed 11 Oct 2023 - The transition towards a low-carbon economy is a global challenge, requiring global solutions. There is broad recognition of the need to manage this transition in a just and inclusive way, yet there is limited emphasis in mainstream discussions on exactly how difficult this process may be with regard to emerging markets. Countries across the world will need to overcome their own specific challenges, and may not be able to decarbonise at the same pace, or via the same methods. Taking country-specific challenges into account is key to meeting the goals of the Paris Agreement in a sustainable way.
On top of these challenges, there is growing criticism that the standard climate risk scenarios prescribed by regulators are not fit for purpose – when might these scenarios not work, and more broadly, is climate risk adequately priced in the financial markets?
Please join us for this thought-provoking webinar, where our esteemed subject matter experts, Professor Lapman Lee, Mike Clark and Tina Mavraki provide informative insights into various regional perspectives for managing and putting a price on climate risks, across the insurance and pensions sectors.
You can watch the recording of this webinar on the IFoA's Virtual Learning Environment (VLE). Watch recording.
Prof. Lapman Lee is a Professor of Practice (ESG, FinTech, Governance) and convenor of the HK Polytechnic University Corporate Sustainability & Sustainable Finance Center (CESEF). He advises Asian policymakers, listed and private companies on Board climate change governance, corporate sustainability, diversity equity & inclusion, ESG reporting and risk management, and strategic communications and PR, and (green) technology.
He leads the climate and ESG value proposition for life and non-life insurers in Asia at Willis Towers Watson with a focus on the triple role of insurers as risk underwriter, long-term return-focused investor, and responsible employer. He has been conducting ESG related interviews and sharing sessions with HK CEOs of AIA, AXA, and HSBC Life.
Lapman is a Vice Chair of the British Chamber Financial Markets Committee and was a Board member of the HK FinTech Association with a focus on InsurTech.
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…
Tina Mavraki is a portfolio non-executive board director and strategic adviser, and an ESG change-maker. Her 25-year executive career spans global capital markets, physical supply chains, and investment management in C-suite positions.
Tina is a Chartered IoD Director. She is non-executive director of global energy and metals producer Mytilineos SA, and private-equity-led US First Bauxite LLC. She also sits on the ESG EMEA advisory board of leading executive search and advisory firm Stanton Chase International. Her advisory portfolio includes US$ 8.5 billion US debt fund White Oak, the Children’s Investment Fund Foundation on climate, and the ECODA Director Circles (the European Confederation of Directors Associations).
On thought leadership, Tina produced for the FCA governance recommendations for climate implementation, and climate-focused executive remuneration. For the EBRD, she authored ESG governance manuals for banks and private equity firms.
In her executive career with Morgan Stanley and Citi, Tina managed debt portfolios and advised European Debt Management Offices. In physical supply chains, she led multiple transactions in emerging markets. She led strategic co-financing agreements in investment management. She advised the State of Maharashtra, India, on renewable policy and solar tariffs.
Tina is a Fellow of Chapter Zero UK. She is a CFA charter holder and an accredited corporate mediator with CEDR.
Tina holds a BA and MA in PPE from Oxford University, and an MSc in Finance from LBS.
Zhixin Lim is the Actuarial Head of Projects at HSBC Insurance. He writes about technology and business on his personal blog Odds&Ends.