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The Actuary The magazine of the Institute & Faculty of Actuaries

IFoA launch initiative to help implement UN sustainability goals

The Institute and Faculty of Actuaries (IFoA) has today launched an initiative to explore how the profession can help achieve the UN’s Sustainable Development Goals (SDGs).

IFoA calling for global discussion on SDGs ©Shutterstock
IFoA calling for global discussion on SDGs ©Shutterstock

The 17 overarching goals, and 169 individual targets, are designed to end poverty, protect the planet, and ensure prosperity for all by 2030 through the participation of everyone in society.

It is expected that the financial services industry will play a vital role, with the IFoA now calling on actuaries to submit a proposal outlining how they can best contribute to implementing the goals.

“This will help to create a framework for collaborating with others and provide more specific direction for those working in our profession,” IFoA president, Marjorie Ngwenya, said.

“Actuaries are experts in providing answers to complex questions around long-term global risk. We hope submissions will help to shape ideas and provide structure on how to channel that expertise.”

The IFoA said companies and investors have started mapping their objectives and activities to the SDGs, contributing to the goals through investment decisions and asset allocations.

This is particularly true in the insurance sector, which has given the most specific commitments to achieving the goals.

In order to ensure that actuaries are doing their part, the IFoA is asking the profession: “How are actuaries relevant to the SDGs and how can they contribute to the goals being met?”

Submissions can include:

Practical examples of actuaries considering SDGs in their work
Evidence that demonstrates the impact of the SDGs on the actuarial profession, as well as the industries they work in
Evidence that demonstrates how the profession can help clients and employers contribute towards implementing the SDGs.

“The aim is to contribute towards solutions which eradicate poverty and hunger, tackle climate change, and ensure access to education and work for all,” Ngwenya continued.

“To have the best chance of answering our question on the SDGs, we would like this to be a truly open and global discussion.

“We are an organisation with members all over the world and we work closely with many actuarial bodies in other countries. We hope to tap into this wealth of knowledge and expertise over the coming months.”

The deadline for submissions is 23 March 2018.

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