On Jun. 6, UK IFoA issued risk alert, climate change scenario analysis.
UK IFoA issued risk alert to all members on climate change scenario analysis.
Risk Alert
Data on climate change is evolving rapidly and there is a risk, when using current published scenarios, that an actuary will underestimate climate risk.
States challenges, limitations users should be aware of when interpreting results.
Actuaries should note climate may change more quickly than some models predict.
Builds on 2022 risk alert that climate change drives material financial risks; actuaries should appropriately consider, clearly communicate impact of climate change.
Regulators
UK IFoA
Entity Types
IB; Ins
Reference
PR, 6/6/2024; ESG
Functions
Actuarial and Valuation; Compliance; Environment; Financial; Reporting; Risk
