The risks from climate change create uncertainty and threaten the stability of Canada’s ecosystems and economies, and the health of Canadians. An increase in insurance losses from extreme weather events as well as changes in mortality and morbidity rates due to an impact on health and longevity all become possible.

Actuaries ensure insurers are aware of the potential costs associated with climate change. Through their unique skills and expertise, actuaries consider the risks of climate change to ensure that insurance companies, social security programs and other companies have long-term financial viability. They also:

  • develop solutions to mitigate the risks associated with climate change in a transitioning economy;
  • establish the rates of insurance policies and ensure assets are available when they’re needed; and
  • assist insurance companies and pension funds with being socially and environmentally responsible through their policies and investments.

As Canada and the world are faced with risks like global warming, extreme weather events, sustainability goals and transitioning to net-zero carbon, actuaries have a critical role to play in helping Canadians build a better, more stable financial future.

Climate Change and Sustainability Resources