The Role of Actuaries in addressing Sustainability

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Now is an important time for the profession. Can we rise to the challenge in addressing some of the greatest uncertainties of our lifetime?

The 2020 crises, COVID-19, climate change, bio-diversity loss, credit crisis, social injustice, health and income insecurity are in the foreground.

I spoke to this spirit at the ERM Committee meeting of ASSA last month. I discussed frankly about the difficult decisions we have to make – how we can be more explicit in our public interest role. Using VSMD (Vision, Skillsets, Mindsets and Domains) Strategy as a context – I dwelled into the innovative mindset required to venture into digital world, and the systemic mindset to tackle the sustainability and big issues of our time. Diversity of thinking is the key.

Our past Presidents asked us to have more Courage and Imagination. In Uncertainty, we need Judgement above all. Courage and Imagination have to be exercised with good Judgement.

I said thought leadership is critical in this inflexion point. Our public interest responsibility is now being tested. As a profession we must rise to the challenge. Our actions will define this generation.

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