Management Board has approved a change of name for the Resource and Environment Board.
After seven years under its present title, from now on the board will be known as the Sustainability Board. Use of the term ‘sustainability’ fits better with the board’s purpose and its growing focus on issues such as the UN Sustainable Development Goals. It also offers a better fit with global conventions.
The board’s updated terms of reference were also approved. These affirm the purpose of the board as being to “create meaningful engagement by all actuaries, their clients and wider stakeholders in understanding, and then in addressing, the risks and uncertainties for economic and financial systems arising from climate change and other sustainability issues. The board seeks to be a centre of expertise and leadership for the IFoA in climate change and other sustainability issues and aims to help identify, educate and raise awareness of the need for such issues to be addressed.”
The new chair of the Sustainability Board, Nick Spencer, said: “This is an exciting time to be leading the board. Over the last year, the board has expanded to 16 members, has refreshed its purpose, strategy and objectives, and strongly supported the IFoA signing the Green Finance Educational Charter. As the world begins its recovery from the pandemic, focusing on long-term sustainability rather than short-term solutions is going to be essential. The Sustainability Board, together with the broader profession, will strive to support all actuaries in these efforts and to be at the centre of these discussions.”