2024 SOA ImpACT Conference - Session 7E: Climate Risk Track Session F: Climate ERM – Putting it all Together! 10.29.24 Recording

Over the course of ImpAct conference, we have taken you on a journey to understand the impact of climate change to the insurance industry. We have examined the risks to the industry both on a short and long term. We looked at tools and approaches, both on the liability and asset sides, to address this emerging risk. Evidences have shown, not only the need to incorporate climate risks is pressing, as an industry, we shall recognize the responsibilities to lead the evolution. This session aims to put everything together and explore progress on company’s ERM process to incorporate climate risks and enterprises’ attempt to provide sustainability information to audiences in need. We will discuss the latest development in international standard on sustainability disclosure. We will diagnose the challenges on implementation and effort to resolve them. We will compare the requirements and latest development across different jurisdictions and possible cross learning among them. To conclude, we will land on what opportunities present to the actuarial community! At the end of this session, participants will be able to: • Discover requirements on sustainability reporting standards across different jurisdictions • Appreciate the challenges and progress to integrate climate risks in company’s ERM approaches • Comprehend actuaries’ opportunities and responsibilities to contribute