TPR welcomes climate science report

Today (Tuesday) the Joint Forum on Actuarial Regulation published an extensive report on understanding the science of climate change.

David Fairs, TPR’s Executive Director of Regulatory Policy, Analysis and Risk, said:

“From worsening storms to increased risk of fire and flood, this report on the science of climate change makes for shocking but essential reading.

“All pension schemes, regardless of size, are highly likely exposed to climate-related risks and opportunities. Trustees already have access to our guidance in this area but will also need the support of skilled, competent and knowledgeable advisers.

“We welcome work to help improve actuaries’ understanding of climate-related risks and opportunities, so they are better equipped to help trustees manage, and ultimately protect, savers’ retirements.”