Climate action for professional bodies

Co2 to Net Zero - IFoA joins Professional Bodies Climate Action Charter

What do professional bodies want? CLIMATE ACTION!

When do they want it? NOW!

I am pleased to announce that the Institute and Faculty of Actuaries (IFoA) has signed up to the Professional Bodies Climate Action Charter (the Charter).

The IFoA has taken a strong position on sustainability, working to become carbon neutral and to support actuaries in their understanding of climate risks and opportunities so that they incorporate this in their advice. Sustainability is a prominent theme of IFoA President Louise Pryor’s presidency. Pryor believes the IFoA can be a “force for social good”

By signing the Charter, IFoA pledges to support and empower members to deliver practice in line with global climate commitments and to drive sustainable growth. Many of the specific undertakings align with our existing commitments under the Green Finance Education Charter, the IFoA's Climate-Related Risk Taskforce, IFoA's Climate Change Statement, and the objectives of IFoA’s Sustainability Board.

The Charter is being spearheaded by E3G, an independent European climate change think tank with a global outlook. It creates a collaborative environment for all professions to translate climate politics, economics, and policies into action. ICAEW, the Institution of Environmental Sciences, the Royal Society of Chemistry, the Professional Associations Research Network, the Institute of Materials, Minerals, and Mining, and the Society for the Environment have also signed up to the Charter.

In order to navigate the complexities of addressing climate change, it will be important for professional bodies to collaborate. Joining this network will support this, as it provides IFoA with access to a forum for interdisciplinary learning, cooperation, and urgent action on climate change.

The lead-up to COP26 next month has shone a spotlight on the urgent action required to achieve a net-zero future. Actuaries, as well as the wider financial sector, have a pivotal role to play on the journey to sustainability. If you’re looking for ways to get involved with the IFoA’s work on sustainability, you can view the current Sustainability Volunteer Group opportunities here.

If you’re don’t feel quite ready to volunteer yet and are looking for support or guidance on climate change, the climate change resource library is a good place to start. The Sustainability Board curates the resource with relevant and current information for actuaries.