Verisk expands its resilience and sustainability analytics with new Climate Risk Dataset
19 Octubre 2023 - 3:11AM
Verisk expands its resilience and sustainability analytics with new
Climate Risk Dataset
Verisk (Nasdaq: VRSK), a leading global data analytics and
technology provider, has added a new Climate Risk Dataset to its
growing suite of sustainability and resilience analytics to provide
powerful, geospatial insight into one of the most pressing issues
facing global business today. The Dataset, launched by its risk
intelligence business Verisk Maplecroft, has been developed as an
end-to-end solution for insurers, corporates, banks, and investors
to identify exposures to current and future climate risks across
global operations, supply chains and portfolios.
Created by an in-house team of climate scientists, and based on
the latest climate model projections, the Climate Risk Dataset
features newly released Climate Scenarios, which assess how
physical risks, such as heat, precipitation, drought, and sea level
rise, evolve over time across different emissions pathways. In
addition, the Dataset includes global risk indices covering
climate-related socio-economic vulnerabilities and an array of
transition issues to deliver a comprehensive assessment of all
aspects of climate risk the world over.
“Navigating the direct and indirect impacts of climate change is
an imperative for multinational organisations if they are to build
resilience to a heating world,” says Verisk Maplecroft’s Director
of Climate and Resilience, Dr Richard Hewston. “This is dependent
on effectively identifying, managing, and reporting climate risk
exposures – a complex task that needs credible data you can
trust.”
The Climate Risk Dataset covers 32 hazards and issues globally.
Its Climate Scenarios encompass 16 physical climate risks across
seven time periods and three emissions pathways. This amounts to
over 330 global climate hazard risk indices with subnational
granularity to assist with the identification of risks to assets
and specific locations. The Dataset also includes subnational
socio-economic indices measuring the adaptive capacity of nations,
the sensitivity of societies to climate change, and overall climate
vulnerability, alongside national-level transition indices
quantifying risks associated with emissions, climate litigation,
carbon policies, and environmental regulations.
The depth and breadth of the data will help companies:
- Perform global risk assessments across operations, supply
chains and portfolios
- Align with climate reporting standards, such as the Task Force
on Climate-related Financial Disclosures and the European
Sustainability Reporting Standards (ESRS)
- Stress test resilience, insurance and investment
strategies
- Identify commercial opportunities in new and existing
markets
- Isolate areas of low resilience and develop effective
mitigation measures
- Understand legal and regulatory challenges stemming from the
energy transition
- Assess the socio-economic impacts of climate change
worldwide
While many companies are beginning to create mitigation plans
for physical threats, ‘cascading’ climate risks are largely going
under the radar. With data covering over 170 environmental,
political risk, and human rights issues, Verisk Maplecroft’s
research into the interconnected nature of risk can also enable
companies to identify where secondary climate impacts, such as food
insecurity, migration, economic stability, and civil unrest, will
emerge.
“From exposure to climate hazards and their ‘cascading’ impacts,
to responses to the energy transition and rising regulatory
obligations, companies need to demonstrate, convey, and instill
confidence in their current and future performance,” adds Hewston.
“The Climate Risk Dataset has been developed to help them do just
that.”
About Verisk Verisk (Nasdaq: VRSK) is a leading
strategic data analytics and technology partner to the global
insurance industry. It empowers clients to strengthen operating
efficiency, improve underwriting and claims outcomes, combat fraud
and make informed decisions about global risks, including climate
change, extreme events, ESG and political issues. Through advanced
data analytics, software, scientific research and deep industry
knowledge, Verisk helps build global resilience for individuals,
communities and businesses. With teams across more than 20
countries, Verisk consistently earns certification by Great
Place to Work and fosters an inclusive culture where
all team members feel they belong. For more,
visit Verisk.com and the Verisk Newsroom.
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