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October 7, 2015

Energy Seminar 4 – Energy, economics and climate change: an actuarial view

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Fossil fuels have powered economies since the industrial revolutionand still do so. However, it is now known that most important cause of man made climate change is carbon dioxide emission from burning fossil fuels. Restructuring the energy supply away from fossil fuels is a huge challenge for economies. This talk takes a risk based view of climate change from an insurance practitioner. Also it looks at a possible barrier to development of long term solutions, which is the historical accident in the 19th century that led to the incomplete incorporation of thermodynamics into economic theory.

Oliver Bettis BSc FIA FCII

Oliver Bettis. February 2015Oliver is a fellow of the Institute and Faculty of Actuaries (IFoA), the professional body for the actuarial profession in the UK, and is a fellow of the Chartered Insurance Institute. He chairs the research committee for the IFoA’s Resource and Environment (R&E) Board. He served a two year term as the first chair of the R&E Board. which was formed in 2013 to investigate climate change and other environmental issues. Oliver is the senior pricing actuary for a UK subsidiary of a large global reinsurance company. Pricing insurance business that was affected by climate change led to his interest in this subject.

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