Climate Risk and Sustainability Course

While the scientific consensus is that climate change associated with global warming is in progress, the scale and timing of its impacts are uncertain. The effects of climate change could potentially have a wide-ranging impact on health and mortality, physical assets, and financial markets.

The areas of actuarial work in which climate-related risks play a role are many. They include, for example, both assets and liability issues in pensions and insurance.

Actuaries cannot ignore climate change risks. Increasingly key stakeholders (for example company boards and regulators) are also expecting actuaries to consider the potential impact of climate risks.

It is therefore the IFoA’s goal that climate-related risk is understood and considered by our members in the same way as other major risks such as interest rate risk and mortality risk.

How

This is an 8-week online course. The estimated weekly study time commitment for the course is 8 to 10 hours. This course has been designed to be taken anywhere in the world.

More information about the course is contained in the Climate Risk and Sustainability Course General Information booklet.

Read the booklet (160 KB PDF)

 

Who

The course is open to all our members: Fellows, Associates, Affiliates, and students, whatever your background or experience in this area. No prior knowledge is required. 

 

What

The purpose of this course is to provide members who complete the course with an understanding of:

  • the main concepts of climate risk and sustainability relevant to actuaries
  • how those concepts are relevant and what impact they might have on actuaries’ work
  • how to apply these concepts in their work

It is not intended that the successful completion of the course would make an actuary a climate risk or sustainability expert.  

The course should be seen as an enabler to stimulate interest and a potential platform for further study.

 

The course

The course is broken down into 9 manageable modules. Modules 1 to 4 and 6 to 8 are self-study modules, while modules 5 and 9 are half-day online seminars that have to be attended.

  • Evidence of Man-made Climate Change and its Physical and Transitional Impacts
  • The UN, NGOs, Other stakeholders and Sustainability
  • Task Force on Climate-Related Financial Disclosures (TCFD) and Financial Regulation
  • Economics and Sustainability
  • Intergenerational Issues
  • Strategy and Risk Management
  • Climate Models / Modelling
  • Reporting and Communication
  • Closing seminar including group presentation and discussion.

View the full syllabus (290 KB PDF)

 

Dates and booking

Booking for April 2024 is now open until 20 March.

Book now

2024 course dates

The dates for the 2024 courses and the seminars for each are:

  • 10 January to 13 March 2024 (booking now closed) | Seminars: 7 February (module 5) and 13 March (module 9)
  • 17 April to 19 June 2024 (booking open from 24 January to 20 March 2024) | Seminars: 15 May (module 5) and 19 June (module 9)
  • 17 July to 18 September 2024 (booking open from 24 April to 19 June 2024) | Seminars: 14 August (module 5) and 18 September (module 9)
  • 2 October to 4 December 2024 (booking open from 10 July to 4 September 2024) | Seminars: 30 October (module 5) and 4 December (module 9)

To receive the certificate, attendance at both seminars is required.

Register your interest

You can register your interest in courses later in 2024 and we will update you nearer the time. By completing this expression of interest form you will be given priority booking and notified about the course you are interested in. This happens before we notify the wider membership that bookings are open.

Course cost

The cost is £580*, which includes:

  • access to all materials
  • participation in 2 group seminars
  • certificate of attendance

*A reduced rate fee is available which is £375 to members who qualify for the discount. Details about reduced rates are available on our exam and other fees page.

 

Frequently asked questions

To find out more about the course, read our FAQs.