STRATEGY DEVELOPMENT THROUGH SYSTEMIC INSIGHTS
Understanding Actors’ Landscape and Opportunities for Engagement
Collaborators
Meridian Institute, Accelerator for Systemic Risk Assessment (ASRA)
Geography
Global
COLLABORATORS
Accelerator for Systemic Risk Assessment (ASRA) is a new initiative dedicated to advancing systemic risk assessment frameworks.
Meridian Institute is a non-profit consultancy that guides collaboration on societal challenges with a focus on environmental issues. Meridian supported ASRA by mapping the landscape of actors engaged in systemic risk efforts and identifying opportunities for future engagement. Maria Balcazar Tellez, as a Meridian Affiliate, led the mapping efforts.
Summary
ASRA is a new initiative dedicated to advancing systemic risk assessment frameworks by mobilizing a global network of risk professionals and thought leaders to enhance resilience to multifaceted risks like climate change, geopolitical conflict, and technological risks.
In the summer 2024, the Accelerator for Systemic Risk Assessment (ASRA) sought to better understand how key actors across key sectors—including insurance, institutional investing, and national and local governments—understand, manage, and respond to systemic risks. This project identified strategic opportunities for ASRA to support the mainstreaming of systemic risk assessment. Through targeted interviews and desk research, opportunities emerged on how ASRA could embed systems thinking into institutional decision-making.
Challenge
As ASRA launched its mission to mainstream systemic risk assessment as the backbone of policy and decision-making, it was interested in understanding influential stakeholders across sectors. Working with Meridian Institute, we aimed to understand how various actors—including insurers, institutional investors, and national and subnational governments—perceive systemic risks to uncover potential entry points for collaboration. The project focused on opportunities and actions that could help decision-makers manage complex, interconnected risks, such as those posed by climate change, geopolitical conflict, and technological risks associated with the rise of AI and automated technology.
Process
Stakeholder Interviews
ASRA and Meridian identified key stakeholders through a collaborative workshop. This resulted in a narrowed focus on 15 individuals from high-priority sectors for in-depth interviews. The interviews aimed to reveal sectoral trends, stakeholder priorities, and potential alignment with ASRA’s mission to advance systemic risk assessment.
Desk Research
Complementing the interviews, desk-based research focused on mapping relevant organizations, initiatives, and individuals across sectors such as national governments, multilateral organizations, and transformational finance. The research led to the creation of a comprehensive database cataloging 153 key actors and sectoral insights.
Insight Generation
Interviews revealed several critical themes, including the growing concern over climate risks among mayors and city governments, the need for insurers to update risk models to reflect systemic risks, and the disconnect between innovative systems thinking and practical policy-making.
Project Outputs
Recommendations for Engagement Strategy
A set of strategic recommendations, pinpointing opportunities for collaboration with institutional investors, insurers, and local governments.
Database of Key Actors
A comprehensive database was created, listing 153 individuals and organizations relevant to the systemic risk landscape. This database included details on actors' priorities, opportunities for engagement, and potential for collaboration with ASRA.
Key Insights
Climate Change as a Central Risk: Climate change surfaced as a dominant theme across sectors. We identified climate as an entry point for engaging key actors including Chief Resilience Officers (CROs), city networks, Outsource Chief Investment Officers (OCIOs), and pension plan administrators.
Bridging the Science-Policy Gap: Innovative systems thinking, particularly in academic and philosophical circles, often remains disconnected from real-world policy-making. An opportunity to help bridge this gap by developing decision-making frameworks and communication tools that translate scientific knowledge into actionable strategies for policymakers was identified.
Engagement with Institutional Investors: Institutional investors, particularly pension funds, were identified as having long-term time horizons, positioning them well to adopt systemic risk frameworks. Engaging with these actors can catalyze broader systemic change across smaller investors and contribute to sustainable financial practices.
Insurance Industry’s Role in Risk Management: Insurers are already adjusting premiums and withdrawing from high-risk markets due to climate change, signaling systemic risks. However, there is still room for greater coordination between insurers and other financial institutions.
Youth and Religious Communities: There is a growing recognition of the importance of youth involvement and the influence of religious communities in shaping public perceptions of systemic risks.
