By Neil Dissanayake
In ACC’s discussion paper 2, we introduced the idea of climate solvency. In this paper we draw a comparison with insurer solvency which highlights the urgency of the situation and the need for credible committed actions to address it. We suggest some practical actions that insurers and investors can take to help in tackling the climate emergency.
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In this article, Tim den Dekker proposes how actuaries should use their unique skills to help tackle the climate emergency. Strong conceptual parallels can be drawn between existing accounting and actuarial concepts in managing risk in the insurance industry and those required to do the same for the global climate. These close conceptual parallels point to a clear opportunity for actuaries — who already oversee and sign-off many aspects relating to the solvency management of insurance companies as a core competency — to be suitably up-skilled take on a central role in the solvency management of the global climate.
Continue reading “Applying insurance solvency skills to climate solvency: How actuaries can step up to the climate emergency”