The 3 rd Younger Members Convention. 29-30 November 2004, The Chesford Grange Hotel, Kenilworth. Can Actuaries Save the World?. Keith Lawrence Nautilus Consultants www.nautilus-consultants.co.uk. Laurie campbell photography. The solution?. “University offers \'Swampy\' degrees
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29-30 November 2004, The Chesford Grange Hotel, Kenilworth
Can Actuaries Save the World?
“University offers \'Swampy\' degrees
A Scottish university is offering courses in how to be an eco-warrior.
Students will learn the arts of environmental activism such as chaining themselves to trees, digging tunnels and launching campaigns.”
… many environmental issues occur over the long-term, and are highly uncertain in nature
1. Impacts on insurance companies & pension funds
… e.g. climate change affects general insurance claims
2. Actuarial skills and tools are relevant
My experience of moving from conventional actuarial work into the environmental field
a) Risk management
b) Option value
c) Portfolio management
analyse the likely consequences
identify mitigation strategies
control residual risks
How to manage a portfolio of investments over time, to meet an objective.
Objective: Sustainable Development:
“Economic and social development that meets the needs of the current generation without undermining the ability of future generations to meet their own needs”The Brundtland Commission, 1987
Can think of 3 types of capital to manage: