Two score and two years
That is how long I have worked, i.e. 42 years. I mention this because on 31 July, 2025 I retired. How do you sum up four decades of deadlines? Four decades of friendships? Four decades of mind boggling technical advances? Speaking of which AI was making inroads in my work as I left.
I was an editor in my final job. I fail to see how AI can do what I did. For instance, I took a 40-page paper with 78 footnotes and, over the course of 1.5 years working with two different authors, I reduced it to 12 pages and maybe 10 footnotes. Could AI see the problem with the original? And work with multiple teams to refine and clarify the points we wanted to make? Below are the first and tenth versions. The tenth version was very much down to my input and writing.
First draft: Why addressing system level Physical climate risk is important for investors
Systemic risk is any event that has the potential to destabilise and cause a collapse in the financial system. Climate-related financial risks are systemic because they impacts from will likely affect every business in all sectors and across the world. Impact from climate hazards will be subject to tipping points and likely to be correlated, non-linear and irreversible. It has been recently concluded that six of the nine planetary boundaries have been transgressed and crossing these boundaries can increase the risk of generating large-scale abrupt or irreversible environmental changes. Therefore, there is a potential that climate-related financial risks may occur on a much greater scale compared to other risks that financial firms currently assess and manage. According to a study conducted by the investment management firm Blackrock in 2019, investors are currently underestimating physical climate risk in their portfolio.
Tenth draft: Relevance to investors
Investors have a fiduciary duty to assess and manage financially material risks. Evidence is growing of the impact of climate change on asset values and long-term portfolio performance. As a result, investors are increasingly viewing – and assessing – climate risk as a material risk.
The work of adapting and increasing resilience to climate change falls to company management, however investors have a role to play. They can assess their investments’ exposure to physical and transition risks. They can engage with investees to encourage implementation of appropriate adaptation measures. They can invest in companies developing technologies that enhance climate resilience (see Investor Action for more detail).
It should never have taken 1.5 years, but that was down to internal problems on the first team developing the paper, which I ultimately said couldn't go ahead. Baton passed to the second team, which had a better grasp of the topic.
I was at the PRI for 6.5 years, originally as a coordinator for Climate Action 100+ but mostly as an editor. On a video call on my last day, I got to chat with not only my colleagues but three people who had left the PRI. It was a real treat to see everyone. My goodbye gifts were all very thoughtful. A subscription to The Atlantic, a voucher for QFT movie theatre, a blue tooth speaker, flowers and chocolates. It was a fantastic way to end my career. My goodbye card was all you could ask for in the way of being recognised and valued for your contributions. As my friend Lola pointed out, not many people get to end their career feeling grateful for having interesting work to do and so many wonderful people to share the journey with.
It wasn't all roses and sunshine. I think I was a difficult employee when frustrated, and I was often frustrated by poorly designed processes or pointless meetings or difficult bosses. I didn't leave Vanguard after 15 years on a cloud of happiness. I would give myself credit for setting a high standard for the projects I worked on but score myself poorly on diplomacy, patience, even team spirit. I am glad I made it to the finish line.
The week after I retired I played in four golf matches. This photo taken the day after I retired:
I didn't play well that day but I enjoyed the craic. Over the past two weeks I've been to four Belfast Tradfest event. One highlight was Belfast musician Neil Martin playing a beautiful air he wrote for a friend on the cello.
Hearing Piaras O Lorcain and Iarla Ó Lionáird sing was another highlight. Iarla sang a song in the film Brooklyn, when men came to a shelter for food at Christmas. Here's Ann O'Dwyer and myself at a pub for a session.
Lady Captain's Day was 8 August. I was meant to leave the next morning for the US. My flight was cancelled so I spent the morning rebooking flights, rental car, hotel, Dublin bus. I took the taxi to the bus to the plane the next day. Flying to Chicago, then a second flight to Columbus. I wasted a lot of time getting the rental car then wasted more time trying to find out if my previous night's hotel booking successfully carried over to the second night. The computer was down so I finally decided to just drive two hours to my mother's. I arrived safely after 21 hours of travel. All of my angels were looking out for me.
Early August