Several reports have been generated in association with the recent Conference of the Parties #28 (COP28), held from 13 November 2023 to 13 December 2023 in Dubai.   This is the second in a series of articles explaining the key messages in some of these reports. It examines the Emissions Gap Report 2023[1], a companion […] The post Emissions Gap Report 2023 appeared first on Actuaries Digital ..read more

A series of reports generated in association with the recent Conference of the Parties #28 (COP28) includes the Production Gap Report 2023[1]. This report initially published by the UN Environment Programee in 2019, tracks the disparity between governments planned fossil fuel production and the levels required to limit global warming to 1.5°C as outlined in […] The post The Production Gap appeared first on Actuaries Digital ..read more

To avoid catastrophic climate change, the world’s economy must be transformed. Societal norms and lifestyles will have to change radically, and businesses must find ways to service their customers without leaving a carbon footprint. Companies that are unwilling, or unable to make these changes are thus susceptible to transition risk through climate policy, technological innovation […] The post Is Climate Transition Creating a ‘Social’ or ‘Minsky’ Green Bubble? appeared first on Actuaries Digital ..read more

The Australian Actuaries Climate Index (AACI) results for spring 2023 show the country experienced warm, dry conditions heading into summer. This was particularly pronounced in the south-west. The latest AACI recorded the 33rd consecutive positive value in the spring of 2023, indicating that the frequency of extreme weather was above the reference period average of […] The post AACI Shows Australia Experienced Warm and Dry Spring in Lead Up to Summer appeared first on Actuaries Digital ..read more

In the current climate crisis, there is a stark gap between science and action. The UNSW Institute for Climate Risk and Response seeks to bridge this gap as Professor Ben Newell partners with leaders to navigate uncertainties and drive impactful change. To understand issues in bridging the gap, Ramona Meyricke speaks to Professor Ben Newell […] The post Empowering Decision-Making in a Changing Climate appeared first on Actuaries Digital ..read more

For 2023 Actuary of the Year, Rade Musulin, COP28 made clear the need for actuarial and risk management experts in the Climate and Sustainability arena. I was honoured to once again represent the global actuarial profession (and, of course, the Institute) at the recently concluded 28th Conference of the Parties to the UN Framework Convention […] The post COP28 UAE: Phasing Down Fossil Fuels but Phasing Up the Profession’s Profile appeared first on Actuaries Digital ..read more

The Climate and Sustainability Working Group (CSWG) has recently released a Climate Change Technical Paper (TP) for Appointed Actuaries. This TP is designed to inform and educate Members about climate risks and opportunities that may be relevant for Appointed Actuaries of insurers in fulfilling their statutory duties. It is an update of the Climate Change […] The post Climate Change and Appointed Actuaries appeared first on Actuaries Digital ..read more

Actuaries Institute 2023 Public Policy Year in Review. Reflecting on 2023, the actuarial profession can take pride that yet again it has been at the heart of many important public policy debates this year: inequality; disability; insurance affordability and sustainability, especially in home insurance and disability income insurance; climate change and broader capital S sustainability […] The post Catalyst for Change appeared first on Actuaries Digital ..read more

The world’s leading authority on climate change, the Intergovernmental Panel on Climate Change (IPCC), has long warned that unless urgent action is taken, we are on course to experience irreversible and catastrophic environmental consequences of global warming.  The world’s leading authority on climate change, the Intergovernmental Panel on Climate Change (IPCC), has long warned that […] The post Financial Risks of Climate Change: Piranhas or Red Herrings? appeared first on Actuaries Digital ..read more

The latest Australian Actuaries Climate Index (AACI) recorded the 32nd consecutive positive value in the winter of 2023, indicating that the frequency of extreme weather was above the reference period average of 1981-2010 across Australia. This was primarily driven by the extreme high temperature index, which was the highest ever recorded for winter across the […] The post A Record-Breaking Winter and Signs of an Extreme Summer appeared first on Actuaries Digital ..read more