Actuaries Institute to host climate risks seminar

Actuaries Institute to host climate risks seminar | Insurance Business Australia

Actuaries Institute to host climate risks seminar
The Actuaries Institute, in cooperation with the Earth Systems and Climate Change (ESCC) Hub, will hold the first in a series of seminars on climate-related risks faced by financial institutions on October 24 in Sydney.

The seminar series, called Climate Risk Fluency, will bring together experts in climate risk science from the Commonwealth Scientific and Industrial Research Organisation (CSIRO), the Bureau of Meteorology (BoM), and university research teams, as well as staff working in companies’ risk, financial, corporate responsibility, and sustainability teams.

The first seminar will explore how climate risks may affect financial institutions; examine the disclosure recommendations made by the Task Force on Climate-related Financial Disclosures (TFCD) to the financial sector; and provide an overview of available climate risk data – its key sources, how to use them, strengths and weaknesses, and the models and techniques in bridging the knowledge gap.

The first in the series of seminars will feature Emma Herd of Investor Group on Climate Change; Tim Andrews of Finity; Nick Wood of Climate Policy Research; Sharanjit Paddam of Deloitte; Serena Blanch of CBA; Dr Karl Braganza of BoM; John Clarke of CSIRO, and Andy Pitman of the University of New South Wales.

The next seminars are intended to provide participants with a deeper understanding of the current state of knowledge for specific types of hazard. There are also plans to examine how stress scenarios can be used to consider the climate risks organisations are facing.

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