Working Group on Climate Risk & Sustainable Finance no text

Leadership

Ms. Saigeeta Bhargava

Chairperson

Mr. Amit Garg

Mentor

Mr. Vimal Mishra

Mentor

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Members

1. Mr. Abhishek Rastogi

2. Ms. Ritu Kotnala

3. Ms. Aishwarya Agarwal

4. Mr. Avanish Bankar

5. Mr. Piyush Jain

6. Ms. Shilpi Jain

7. Ms. Srishti Grover

8. Mr. Kevin Punmiya

9. Ms. Siddhi Kedia

Executive Assistant

1. Ms. Binita Rautela, General Manager

Functions

1. Promote Actuaries’ Role in Climate Risk: Enhance the role of actuaries in the field of climate risk by integrating the latest developments into actuarial training and curriculum and fostering collaborations between corporates and universities for research and case studies
2. Develop Syllabus and Certification Courses: Work with the Education/Examination Committees to design and produce syllabi and content for certification courses on climate risk, incorporating climate risk modules in actuarial exams and continuing education programs.
3. Generate Employment Opportunities: Support the creation of employment avenues for actuarial students and professionals, particularly in data science, insurance, and other industries impacted by climate risk.
4. Conduct Research and Publish Findings: Create case studies and engage in research activities in collaboration with industry stakeholders.
5. Offer Continuing Professional Development (CPD): Work with other AGs of GI/Life/Health/Banking to identify related emerging issues and design and conduct CPD programs, including seminars, webinars, and workshops, aimed at enhancing the climate risk-related skills of actuarial professionals.
6. Develop Climate Risk Methodologies and Tools: Create tools and methodologies for assessing and quantifying climate risks specific to the insurance and financial sectors.
7. Collaborate with Regulatory Bodies: Work with regulatory authorities to establish and refine climate risk disclosure standards for actuarial work, and integrate it into traditional actuarial work.
8. Establish Best Practices and Standards: Set guidelines for climate risk analysis, including ESG factors and data collection standard.
9. Advise on Climate-Related Insurance Products: Provide guidance on developing new insurance products to address climate-related risks and opportunities.
10. Facilitate Knowledge Exchange: Foster knowledge-sharing between actuaries and climate scientists to improve climate risk modeling techniques and offer insights on how climate change affects mortality, longevity, and other key actuarial assumptions.

The Work plan and Timelines will be:

1. This Working Group will meet periodically (atleast four times a year) with atleast 2 meetings collaborating with AGs of GI/Life/Health/Banking either through conference call or face to face.
2. This Working Group will report to the Research and Innovation Committee and/ or to the President

Updated on 21st January, 2025.