Climate change risk management

Expertise and analysis from the Government Actuary’s Department (GAD) can help government manage climate change-related financial risks. We are building networks across government to look at how climate scenario analysis can be used as a risk management tool.

GAD and other organisations recognise the need for continued work on risk management around climate change. At the department’s recent Forum for Public Actuaries event, the Prudential Regulation Authority and the Pensions Regulator spoke about how they’re taking steps to ensure insurance companies, financial institutions and pension funds manage climate change risks appropriately.

Scenario analysis

Scenario analysis is a helpful tool to highlight these risks even where they are highly uncertain, such as the exact nature of the risks from the physical impacts of a changing climate and the route we will take to transition to a low carbon economy. It entails constructing possible narratives for how the future might unfold and assessing their impacts on the risks facing an organisation or government.

Actuarial expertise

GAD’s lead actuary in climate change issues, Rich Haines said: “We’ve been exploring a range of scenarios, including pathways for global actions expected to limit global warming to 1.5 degrees above pre-industrial levels. We’ve also looked at a pathway in line with currently announced policies of governments around the world, expected to lead to global warming of more like 3 degrees.

“These scenarios have very different implications for how the economy may evolve, and how global temperature rises, and carbon use reduction may impact on a range of factors which impact on financial risk, such as asset returns and life expectancy.”

Improving understanding

As GAD marks its centenary year, we reflect on our achievements over the past 100 years and look forward to the increasing range of areas where we use our expertise to assist our clients. This includes climate change where there are financial (and other) risks to individuals, businesses and government and uncertainty over possible outcomes.

Considering implications from different climate scenarios can break down seemingly intractable problems into more focused considerations and help improve understanding. This can help decision makers consider the possible range of impacts, build resilience and respond quickly to changing circumstances. We expect this sort of analysis will be helpful to large asset holders such as pension funds and financial institutions, but also to government departments responsible for managing risks to the country’s future finances.




UN Human Rights Council 41: general comment on Ukraine

Thank you, Mr President,

The United Kingdom would like to make a General Comment on L9 entitled Cooperation with and assistance to Ukraine in the field of human rights.

The UK welcomes Ukraine’s constructive engagement with this Council.

Ukraine’s open engagement with this Council and with OHCHR in the country continues to be exemplary. We welcome Ukraine’s continued willingness to participate openly and constructively in HRC debates and allow for an open and frank discussion on their human rights challenges at the HRC. We recognise that it is not easy to open up for such scrutiny and discussion on the human rights situation in one’s own country on a regular basis and we commend the Government of Ukraine for its transparency and willingness to discuss its situation so openly.

In this balanced and technical draft we have before us, Ukraine asks for the continuation of OHCHR assistance to their country in the field of human rights, including OHCHR assessments and regular dialogues at the HRC, for another two years. We welcome Ukraine’s wish to extend this assistance for another two years – a clear demonstration of their readiness to find long-term solutions and of their commitment to improving their human rights situation, particularly in the context of the illegal annexation of the Autonomous Republic of Crimea and the city of Sevastopol.

The UK has co-sponsored this draft resolution. We urge all members of the HRC to join us in supporting Ukraine’s request for assistance and cooperation.

Thank you, Mr President.




Thank you message as £1 billion A66 consultation closes

More than 2,000 people attended public consultation events across Cumbria, County Durham and North Yorkshire with others giving their views online and by post. Comments were received on a variety of options which include constructing bypasses around key villages, building new lanes alongside existing sections of the road, and improving busy junctions at Kemplay Bank roundabout in Penrith and with the A67 at Barnard Castle.

The consultation was launched on Thursday 16 May by Transport Secretary Chris Grayling and closed last night (Thursday 11 July). Public consultation events with plans of the potential options on show were held in Penrith, Appleby, Gilling West, Richmond and Barnard Castle.

Highways England senior project manager Matt Townsend said:

The general mood across the 20 consultation events was enthusiasm for the project which is encouraging – but it was also reassuring that people felt they could raise any concerns or suggestions and provide us with genuine local intelligence and insight.

We’d particularly like to thank the communities which hosted the consultation events for their hospitality and warm welcome – we’ve had nothing but enthusiasm and support.

The plan now is to take a detailed look at all the feedback and identify any themes or consistent concerns and feed that into the process as we work to bring forward our preferred options for each section of the road.

Highways England is developing plans to fully dual the remaining six single carriageway sections, which total 18 miles of the complete 50 mile route. This will provide improved benefits to journey time reliability, safety, network resilience and connectivity for nearby villages and towns.

The A66 is both a nationally important road, linking Penrith in Cumbria with Scotch Corner in North Yorkshire, and a key regional route. It is a hugely important route for freight traffic across the United Kingdom and as the main link to the Lake District and North Pennines to the East of England.

Upgrading the A66 route will provide enormous benefits to people living locally but will also change the way people travel round the UK, improving connections from Scotland to the east coast of England and Belfast’s port traffic, via Stranrear, onwards to ports including Hull and Felixstowe.

An announcement on the preferred route will be made next spring – accompanied by a report on this year’s consultation and further statutory consultation and planning stages.

More information is available on our website.

General enquiries

Members of the public should contact the Highways England customer contact centre on 0300 123 5000.

Media enquiries

Journalists should contact the Highways England press office on 0844 693 1448 and use the menu to speak to the most appropriate press officer.




New Defra Chief Scientist appointed

Professor Gideon Henderson has been appointed by Defra to be the department’s new Chief Scientific Adviser (CSA).

Professor Henderson, currently a Professor of Earth Sciences at the University of Oxford and until recently its head of department, will join Defra in October this year.

He will replace Sir Ian Boyd, who is leaving Defra after seven years in the post.

Environment Secretary Michael Gove said:

Sir Ian Boyd’s contribution to Defra’s work has been invaluable, and I am immensely grateful for all the advice he has provided over the past seven years, informing key government policies.

I warmly welcome Professor Henderson to the role and look forward to working with him and seeing his positive impact on science in the department going forward.

It is absolutely crucial that all our policies are based on sound scientific advice to ensure we are addressing the UK’s most pressing environmental issues in a targeted and innovative way, and Defra’s Chief Scientific Adviser is vital to this process.

Commenting on his appointment, Professor Henderson said:

I am thrilled to be joining Defra at a time when the environment is such a strong priority and there is an ever-growing public level of environmental awareness.

The UK faces many challenges – among them responding to climate change and helping meet a net zero emissions goal, as well as ensuring our food’s security and realising the goals of the 25 Year Environment Plan.

I look forward to working closely with colleagues to help achieve these ambitions with the support of the UK’s excellent scientific research.

Tamara Finkelstein, Permanent Secretary at Defra, said:

High quality science is central to everything this department does, as our recent investment in a Systems Research Programme reinforces.

I am delighted that Gideon Henderson is joining us as the new CSA for Defra, bringing with him strong experience in geochemistry, ocean sciences and climate. I look forward to working with him as part of the Defra executive committee and as a leader of our superb scientist community.

Sir Patrick Vallance, Government Chief Scientific Adviser, said:

Congratulations to Professor Gideon Henderson FRS on his appointment as the new Defra Chief Scientific Adviser. He is an exceptional scientist and brings a wealth of knowledge and experience to this vital and varied role in a key department for science.

I would like to extend a warm welcome to Gideon to the network of Chief Scientific Advisers across government and I look forward to working with him.

The CSA sits on Defra’s Board and is responsible for overseeing the quality of evidence that the department relies on for policy decisions. The CSA also provides Ministers with scientific advice and sets the priorities for scientific research and evidence-gathering.

Biography

  • Professor Henderson has been Professor of Earth Sciences at the Department of Earth Sciences in the University of Oxford since 2006. He has also jointly held positions as Senior Research Fellow at University College, Oxford since 2012 and as Adjunct Associate Research Scientist at the Lamont Doherty Earth Observatory of Columbia University since 1999.

  • His awards include the 30th Annual Plymouth Marine Science Medal 2016, European Union of Geosciences outstanding young scientist award in 2001, and the Leverhulme Prize Fellowship in 2001. In 2013 he was elected a Fellow of the Royal Society (FRS).

  • As of 2019, he is the chair of the Royal Society Global Environmental Research Committee, a NERC Member of Council and a Member of the Royal Society Science Policy Expert Advisory Committee. He has also recently been appointed chair of the National Oceanographic Centre (NOC) Association Board, overseeing the body formally tasked with ensuring good science and infrastructure interaction between the NOC and the broad UK oceanographic community.

  • His research uses geochemistry to understand surface earth processes, particularly those relating to climate, the ocean, and the carbon cycle. Two major themes have been the use of past climate to assess climate issues relevant to the future, and assessment of the cycles of metals in the modern ocean, including contaminants and nutrients. His present work includes researching the potential and risks of accelerating natural processes to removal CO2 from the atmosphere.

  • He holds a PhD from St John’s College, Cambridge, and gives regular keynotes at international conferences in geochemistry, ocean sciences and climate.




UN Human Rights Council 41: introductory statement on Syria

Thank you Mr President,

The UK has to the honour to present draft resolution L.25 on the human rights situation in the Syrian Arab Republic, on behalf of a group of states: France, Germany, Italy, Jordan, Kuwait, Morocco, the Netherlands, Qatar, Turkey and the United Kingdom.

Mr President,

It is with deep regret that we are again compelled to present a resolution on the human rights situation in Syria. But the grave human rights situation continues to demand a response by this Council.

This draft resolution reflects recent developments on the ground, which must be of concern to us all, including the ongoing crisis as a result of military action in Idlib. Since April, shelling and air strikes have resulted in 350 deaths and the displacement of over 300,000 people. These are violations causing suffering on a massive scale.

It is simply unjustifiable that 25 health facilities and 45 schools are reported to have been damaged due to airstrikes. And, in some cases these airstrikes took place despite the facilities sharing their coordinates with the UN deconfliction mechanism. As a result of these attacks, 49 health facilities have stopped or suspended all services, leaving the 3 million civilians in Idlib even more vulnerable.

The resolution also reflects the latest findings of the UN Commission of Inquiry on Syria, and includes new language expressing concern regarding the use of landmines by all parties to the conflict and on the need for all parties to search for missing persons in line with UN Security Council Resolution 2474, led by Kuwait. The resolution also reflects recent developments in OPCW investigations into the use of chemical weapons.

The negotiation process for this resolution has been open and transparent, and we have reflected many of the key concerns raised by states during the informal negotiation process. Once again we would like to thank member states for their constructive participation.

Mr President,

This text should be adopted without a vote being called. As we have said before, this resolution should enjoy the support of all at this Council. We urge all member states to put the plight of the Syrian people first, to support the UN-led political process under the auspices of the Special Envoy of the Secretary General, and adopt this text by consensus.

In the event we must have a vote on this text, we urge all delegations to vote in favour of the text as drafted.

Thank you, Mr President.