by Giampaolo Crenca and Frank Schiller
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Giampaolo Crenca, Vice Chairperson of the Actuarial Association of Europe | ||
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Frank Schiller, Member of the Board of the Actuarial Association of Europe |
Climate change and its consequences present unprecedented risks for the financial industries – as well as for humanity. Inaction is not an option.
The climate crisis is already urgent: in 2020 global heating saw temperatures pushed to 1.2°C higher than preindustrial levels, with clear impacts on weather events and natural phenomena.
It is widely accepted that a rise beyond 1.5°C will be disastrous, and that crossing the 2°C threshold will lead to catastrophic and irreversible effects.
Disclaimer:
This article represents the opinion of the authors, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 34 – June 2023
