Last year, nearly 200 countries recognised climate change to be one of the greatest risks facing our world today and agreed to accelerate action by signing the Glasgow Climate Pact at COP26.
During the Summit, the role of the financial sector was highlighted, with governments around the world acknowledging the need to adapt their economies for net-zero.
As long-term risk managers, the likelihood of future changes and the measures taken by governments to try to deal with them are of crucial interest to actuaries and the wider financial industry.
One year on, delegates joined Holyrood Communications and the Institute and Faculty of Actuaries as we:
- Reflected on what has been delivered so far from the Glasgow Climate Pact and the implications for actuaries
- Considered the challenges for COP27, which took place in Sharm El-Sheikh in November 2022
- Assessed the impact of key political challenges – such as the pandemic response and the cost-of-living crisis – on progress being made in Scotland
- Discussed how Scotland can transition into a global leader for green and sustainable financial services
- Explored how the actuarial profession can lead change in the financial system to serve the public interest in the management of climate-related risk and capitalise on the economic opportunities that such a transition presents