A finance system for long term prosperity
Prof Aled Jones commended as part of the Frank Redington essay competition at the Institute of Actuaries
November 2022
CUSP co-investigator and Director of the Global Sustainability Institute at Anglia Ruskin University received a commended for his essay on what a sustainable and economic finance system for the public interest could be as part of the Frank Redington Prize at the Institute of Actuaries (IFoA).
The recommendations outlined in the paper partly originate from a workshop hosted with the IFoA at Staple Inn in May 2019, as part of the IFoA’s partnership with CUSP exploring the future of finance. Aled Jones and Nick Taylor led the that workshop on behalf of CUSP and continue to provide input through the Research Thought Leadership Committee under the Sustainability Board.
The workshop brought together twenty-five individuals from across the finance sector including senior and junior members of the IFoA as well as invited members from the Institute of Chartered Accountants of England and Wales (ICAEW). Individuals came from regulatory bodies, professional bodies, financial organisations, consultancies and networks with job titles ranging from Chief Investment Officer to Senior Pricing Actuary. Three roundtable discussions were held to explore issues around the short-term nature of the sector and the tools that are used within the profession to inform advice.
The workshop findings helped inform the development of various models and outputs under CUSP including our paper on Finance for a future of sustainable prosperity, published in the journal AREA. Ongoing work with the IFoA continues with a focus on how finance can contribute and underpin the net zero transition as well as what a fair and equitable finance sector looks like and explorations of emerging risks such as biodiversity.
