Actuaries Institute Podcast

Andrew Doughman (Reinsurance Underwriter and Client Manager at Hannover Re) questions Sharanjit Paddam (Principal of Actuaries and Consultants at Deloitte) on his thought leadership paper “Climate Risk Disclosure, Financial Institutions Feel the Heat” (co-authored by Stephanie Wong)Climate change raises real risks and opportunities for financial institutions which need to be identified, managed and disclosed. Sharanjit states “I think there's an opportunity to renew your business in a really good way. And to build a capability that talks about, how do we manage risks across the organizations, and how do we think about opportunities?” Australian Institutions are ill-prepared for the impact of rising temperatures and extreme weather events and the effects these will have on their balance sheets. Sharanjit talks about “the East coast low we had in Sydney back in May 2016. And where we saw a number of backyards of properties at the, at Collaroy disappear into the sea”. First home buyers and those who have investm