The impacts of climate change on the long-term viability of public and private pension plans

加拿大人在养老基金中的投资超过3万亿美元，数百万加拿大人依靠私人和公共养老金计划退休。但是，气候变化除了影响死亡率、出生率和移民模式外，还可能影响经济各部门的增长，从而破坏公共和私人养老金计划的可行性。为了解决这些问题，魁北克退休计划将与蒙特利尔魁北克大学和西蒙弗雷泽大学的研究人员合作，实现以下目标：（1）创建一个基于气候的方法来模拟和评估养老基金的风险（即，（2）培训精算师和风险管理人员成为气候变化领导者，特别是在养老金方面，（3）在养老金风险管理实践中加快实施气候举措。本研究提案中提出的方法将使精算师能够评估气候风险，特别是养老金方面的风险，从而使加拿大受益。这将反过来保护数百万从私人和公共养老金计划中受益的加拿大人的储蓄。它还将通过提供适当的手段来培训养老金和投资精算师，通过降低未来退休加拿大人的风险和减少我们的碳足迹的资产分配，使他们成为气候变化方面的领导者，从而使我们的经济受益。预计这一伙伴关系将带来的知识转让也将通过提高对这些问题的认识，成为实施气候举措的跳板。

With more than $3T invested in pension funds, millions of Canadians rely on private and public pension plans for their retirement. But by potentially impacting growth in various sectors of the economy, in addition to affecting mortality, natality and immigration patterns, climate change could disrupt the viability of public and private pension plans.To address these issues, Retraite Québec will work in collaboration with researchers from Université du Québec à Montréal and Simon Fraser University towards the following goals: (1) create a climate-based methodology to model and assess risk in pension funds (i.e., investment, inflation, demographic, and insolvency risks), (2) train actuaries and risk managers to become climate change leaders, especially in the pension context, and (3) accelerate the implementation of climate initiatives in pension risk management practices.The methodology put forward in this research proposal will benefit Canada by making it possible for actuaries to assess climate risk with a special focus on the pension context. This will in turn protect savings of millions of Canadians who benefit from private and public pension plans. It will also benefit our economy by providing proper means to train pension and investment actuaries to become leaders in climate change through risk reduction for future retired Canadians and asset allocation reducing our carbon footprint. The knowledge transfer expected as a result of this partnership will also serve as a springboard for the implementation of climate initiatives by raising awareness on the issues.