4 minute read
Editorial
Sustainability of the earth’s resources is a crucial issue that is being considered by governments and other key stakeholders worldwide. Countries across the globe and their economies are at diff erent stages in their evolution, with a number of them experiencing expansion while others are seeking to return to growth. This is bringing about new challenges where supply and demand factors are rapidly changing and will necessitate innovative solutions. For example, new and renewable sources of energy are being explored. This brings with it a requirement for adaptation on the part of individuals and businesses.
Electric cars are a simple illustration. They may have deemed to have been reserved for niche markets, yet their presence is starting to grow. As a result, requirements for further change follow – charging stations in convenient locations, for instance. Global leaders must strongly consider the needs of future generations and sustainability.
My personal belief is based on working towards creating a legacy upon which future generations can build. Without appropriate planning, the world’s natural resources could quickly become depleted. Actuaries have a great set of skills that can contribute to this diverse topic, working with other specialists in modelling a wide range of outcomes.
In this month’s edition, we have a number of articles by actuaries who work in the fi elds of sustainability economics and the modelling of electricity markets. It is truly encouraging to know that our profession is branching into what might be called ‘non-traditional’ actuarial markets.
One area of the actuarial skills base that is considered in this edition is catastrophe modelling (p29), citing an opportunity for us to grow our expertise. Continuing on the theme of skills, the CEO’s comment (p10) looks at the results of IFoA research into important qualities for actuaries – well worth a read. We are fortunate to have access to a wide range of opportunities to contribute to society while also building great careers – this is clearly driven by the skills and training required to become an actuary. We truly are debtors to our profession.
Deepak Jobanputra
editor@theactuary.com
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Peter Tompkins (chairman), David Campbell, Matthew Edwards, Martin Lunnon, Marjorie Ngwenya, Sherdin Omar, Richard Purcell, Andrew Smith, Nick Silver Published by the Staple Inn Actuarial Society The editor, The Institute and Faculty of Actuaries and Staple Inn Actuarial Society are not responsible for the opinions put forward in The Actuary. No part of this publication may be reproduced, stored or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the copyright owners. While every effort is made to ensure the accuracy of the content, the publisher and its contributors accept no responsibility for any material contained herein. Important information for contributors to The Actuary By submitting content for publication you confirm that: (a) You (and/or other named contributors) are the sole author(s) of the content submitted; (b) The content you submit is original and has not previously been published (unless you specifically advise us to the contrary); (c) You haven’t previously licensed the use of the content you submit; (d) So far as you are aware, the content submitted will not infringe any third-party rights, be defamatory or in any way illegal. © SIAS June 2013 All rights reserved ISSN 0960-457X
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Deepak Jobanputra believes drafting a roadmap of sustainability will off er many actuarial opportunities
