Climate change is a risk management problem on a global scale: even 1.5°C of global warming could trigger multiple climate tipping points and multi-metre sea level rise, which may be irreversible.
Delivering a stable climate for future generations will require removing historic emissions. We will have to go beyond net zero and actually remove greenhouse gases from the atmosphere using both technological and natural solutions.
As part of the IFoA’s sustainability thought leadership, we have partnered with the Climate Crisis Advisory Group to produce a joint report, Climate Emergency – tipping the odds in our favour (bit.ly/IFoA_Tipping_odds), which looks at how actuarial risk management techniques can be applied to the climate change problem – including in terms of mitigating the extreme risks of climate breakdown.
The report was launched at an event at Holyrood on 10 September by Sandy Trust, former chair of the IFoA Sustainability Board and group director of organisational risk at M&G.