Humanity as the Titanic: Actuaries, get into that wheelhouse!
It is clear that we, humanity, are not doing enough to address the risks and opportunities of climate change. In finance – investment, insurance and banking – we are bedevilled by the not-fit-for-purpose NGFS/CBES climate scenarios. The good news is that a tipping point in finance is at hand. And actuaries can, and must, accelerate its arrival. How? We must enter the wheelhouse. When? ASAP. With what? With our risk and uncertainty skills (and a dash of public interest ‘fairness’). We need to help out the economists, and support regulators and policymakers. Perhaps the best opportunity of our careers! The talk will: explain why the NGFS/CBES climate scenarios need to evolve, building on the work of the RWCS (Real World Climate Scenarios) initiative offer narrative scenarios as part of the way forward (and mention who is starting to use them) – narratives eat modelling for breakfast promote positive tipping points increase your personal agency, your willingness and ability to act, and thus your agency in your network introduce EEIST thinking turn the US IRA subsidies discussion inside out (nature has been subsidising humanity) check you have checked out TAS100.
Speakers: Sandy Trust and Mike Clark.
Chair: Sophie Wright