
“Are we moving fast enough for that? No.” (24:26)
In this episode, our guest speaker André Choquet, current Chair of the Climate Change and Sustainability committee of the Canadian Institute of Actuaries (CIA), details his journey in the actuarial and investment industries and explains how it led him to make responsible investing his mission. He goes on to explain his views that whether to making changes faster or not “really depends on what kind of future you want” (24:02) and outlines how responsible investments can be set up to generate profits in a sustainable way. To conclude the episode, Mr. Choquet discusses the speed at which new regulations are coming into play, gives us some hope with new programs implemented in universities and actuarial exams, and provides insightful advice for future professionals. Be sure to give it a listen!
Here are some links to sources discussed in the podcast:
- Criticism of actuaries in early 2000s by the proponent of Financial Economics: see https://www.soa.org/globalassets/assets/library/newsletters/pension-forum/2003/january/pfn-2003-vol14-iss2-bader-gold-a.pdf
- Learn about David Suzuki: see https://davidsuzuki.org/
- Ontario legislation that required pension plan to include in their SIPP a statement about ESG factors: see http://www.fsco.gov.on.ca/en/pensions/legislative/Pages/sipp.aspx
- How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need by Bill Gates: see https://www.amazon.ca/How-Avoid-Climate-Disaster-Breakthroughs/dp/0735280444
- Climate Change and Sustainability Resources of the CIA: see https://www.cia-ica.ca/ccsc-resources
- Russel Investments Brochure on Responsible Investing: see https://russellinvestments.com/-/media/files/us/institutions/brochures/responsible-investing.pdf?la=en&hash=EB6D67C7346B54BD580A617AF7A20C13941EB803
- Article on AXA’s CEO’s statement: see https://www.greenbiz.com/article/axa-4c-warming-makes-world-uninsurable
- Article “Independent Senator Rosa Galvez introduces bill to align Canadian financial sector with climate commitments”: see https://rosagalvez.ca/en/media/press-releases/press-releases/cafa-introduction/
- OSFI documentation on FRFI climate risk management: see https://www.osfi-bsif.gc.ca/Eng/fi-if/in-ai/Pages/clrsk-mgm_let.aspx
- Four papers from the International Actuarial Association on climate issues: see https://www.actuaries.org/iaa/IAA/Publications/Papers/Climate_Issues/IAA/Publications/Climate_Issues.aspx?hkey=12b3d553-9ca0-4c64-85c2-b3df3b4faa3e