Statement: Canada’s Chief Actuary continues to severely underestimate climate risks to the CPP

In its 32nd Actuarial Report on the Canada Pension Plan (CPP), published on Monday, Canada’s Office of the Chief Actuary (OCA) has again failed to consider the increasing potential for systemic climate-related financial risks in its “baseline” assessment of the sustainability of the CPP.  The harsh reality is that the future health of programs like the CPP is dependent on a stable climate. A precautionary warning from actuaries is needed to make this clear for decision-makers.