The IFoA acts in the public interest by responding to consultations where actuarial expertise can inform the debate. Recently, the IFoA has responded to several consultations on topics related to sustainability.
The IFoA acts in the public interest by responding to consultations where actuarial expertise can inform the debate. Recently, the IFoA has responded to several consultations on topics related to sustainability.
The first of these was a response to the joint consultation on the Infrastructure Finance Review from HM Treasury (HMT) and the Infrastructure and Projects Authority. The review examined the UK government's tools for supporting the flow of private investment into UK projects, to help build infrastructure fit for the future. The IFoA's response acknowledged that a greater focus on sustainability considerations could change investment priorities and help to reduce infrastructure investment shortfall.
The Treasury Committee's inquiry into decarbonisation of the UK economy and green finance scrutinised the role of HMT, regulators and financial services firms in supporting the UK's transition to a low carbon economy. While tools and techniques for understanding and responding to climate-related financial risk are continually being developed and evolving, there are still barriers to green finance. This includes the failure of decision-makers within firms to recognise that responding to climate risk is a shared responsibility. Green finance and investment must be viewed as a priority by those at senior levels if it is to be delivered successfully.
The Financial Conduct Authority's (FCA) discussion paper on intergenerational differences sought to understand the issues faced by three generations of consumers - Baby Boomers, Generation X and Millennials - so that it can ensure financial markets work well and meet the needs of each. The IFoA considers intergenerational fairness to be a key priority and welcomed the FCA's increasing efforts to view regulatory policy decisions through an intergenerational lens.
You can read these and other responses via the IFoA's consultation responses page: bit.ly/2kPKcUU
