The Australian Actuaries Climate Index (AACI) for the summer of 2024/25 shows high sea levels and warm temperatures in Western Australia. Sea levels continue to be elevated across Australia. The Southern and South Western Flatlands (West) cluster, which covers Perth and the surrounding area, observed the highest sea level index value ever. The Bureau […]

Although we may be entering a new era of ‘greenhushing’, events such as the devastating LA wildfires and Tropical Cyclone Alfred remind us that climate risk is not going away. In fact, reports show that previous Northern Hemispheric summer was arguably the hottest for the last 125,000 years, and full year of 2024 exceeding 2023’s […]

Actuaries spend a lifetime learning skills that make them a valuable part of many financial services and public policy teams. Learning happens in a wide range of ways, including university courses, studying for exams, attending webinars, earning microcredentials, serving on professional committees, working on projects in new areas or collaborating with academics. New areas of […]

Nearly five years since it was last updated, the Institute has revised and enhanced its Public Policy Statement on Climate Change. This reflects recent submissions to the Government and industry bodies in this rapidly developing area, along with heightened interest, passion and leadership from actuaries working in this field. Climate change poses serious risks but […]

This session brings insights from board members, leading actuaries, global thought leaders and general insurance experts to challenge the status quo and provide inspiration for how the role of the actuary will evolve in coming years.

As sustainability becomes a central focus in corporate strategy, businesses are eager to showcase their environmental credentials to appeal to investors, consumers and regulators. But not all that glitters is green. The rise of greenwashing–the exaggeration or fabrication of eco-friendly practices–has become a significant challenge, eroding trust and distorting critical data […]

Last August, the Climate and Sustainability Practice Committee provided an update that Australian Sustainability Reporting Standards were in the process of being finalised, and ran the profession through the content of the key standard: AASB S2 Climate-related Disclosures. In this article, we’ll take you through the voluntary standard AASB S1 General Requirements for Disclosure of […]

The recent wildfires in California have left a trail of destruction with over 15,000 structures destroyed, multiple deaths and displacing over 100,000 people[1]. Estimated economic losses are in the range of USD $130 billion to USD $150 billion[2]. Industry analysts estimate insured losses to vary between USD $20 billion to USD $45 billion, making this […]

This statement highlights key public policy positions of the Institute relating to climate change.

How do complex views on decarbonisation create investment opportunities? In the third episode of Investment Ideas, Decarbonisation, Nicolette Rubinsztein AM, incoming Chair of Greenpeace and financial services non-executive director, speaks with Jan Swinhoe about Australia’s energy transition and how diverse views on decarbonisation create opportunities for investors. Key areas discussed include: The role of gas […]

The Australian Actuaries Climate Index (AACI) for spring 2024 shows extreme high sea levels and unusually warm minimum temperatures. The AACI shows that sea levels were unusually high in the spring of 2024. This was especially notable in the Monsoonal North region, which covers most of the northern part of Australia, where the highest ever […]

For 2023 Actuary of the Year, Rade Musulin, COP28 made clear the need for actuarial and risk management experts in the Climate and Sustainability arena.

The actuarial profession has been building its capacity and profile in climate and sustainability. Rade Musulin represented the Institute at COP29 as the International Actuarial Association’s delegate, identifying new opportunities for the profession. I was once again honoured to represent the global actuarial profession at the 29th Conference of Parties (COP) climate summit, held this […]

Over the past year, the Actuaries Institute has traversed a wide range of public policy topics with great social purpose impact. From advocating for responsible AI standards to addressing home insurance affordability and Indigenous Data Sovereignty, the Institute’s public policy initiatives reflect our dedication to serving the public interest, including through thought leadership. Key activity […]

The Institute is highly supportive of inclusion of ‘Climate change adaptation and resilience’ as one of the six headline ambitions for the taxonomy. We support its inclusion as a DNSH criteria, through consideration of a physical climate risk assessment using at least two relevant scenarios. We are concerned there is no clear timetable for when adaptation and resilience will be considered and believe delaying creates significant risks for insurance affordability, the required investment and action on adaptation and resilience, and the overall costs of the net zero transition.

The Australian Actuaries Climate Index (AACI) for the winter of 2024 shows extreme high and low temperatures in all regions of Australia after winter heatwave. The AACI shows that winter 2024 brought extreme weather in almost all areas of the country. Tasmania recorded its second highest composite index value ever, with only the spring of […]

With the first Global Nature Positive Summit to be held in Sydney in October 2024, now it’s the perfect time to assess Australia’s biodiversity challenges.

The global economy is fundamentally reliant on a healthy and functioning natural world. From the raw materials that fuel industries to the ecological processes that regulate climate and water resources, nature provides a vast array of services, often termed ecosystem services. These services underpin trillions of dollars in economic activity yet are frequently overlooked in […]

A lot of people are keen to improve the environmental“friendliness“of their home. This can be a particular challenge for multi-owner apartment buildings. Verve, a Sydney apartment complex, has actively been pursuing a variety of solutions. Since its opening in December 2009, the complex’s environmentally conscious strata committee and building manager, Mode Management[1], have led […]

The finalisation of Australian climate reporting standards will be an important catalyst for organisations to understand and manage their climate-related risks and opportunities.