Climate Services for Finance, Lessons Learned and Feedback from the Private Sector

Abstract: The financial and real estate sectors are increasingly interested in understanding their risk to the impacts of climate change. This is due to both increasing regulation from government and regulatory bodies as well as a recognition of the large impacts that climate change can have on profits and business operations. However, these industries are not well placed to generate the necessary climate insights.

Climate X is a private sector provider of climate risk data. We aim to address the gap between academic research and information that is useful for our clients. Using our in-house multidisciplinary team of climate and hazard scientists, we build in-house hazard models coupled with publicly available geospatial and climate model data. We engage with academic research to inform our products, covering hazards from floods and storms to geohazards and wildfires.

This presentation will address how we use publicly available data and build on academic research to provide useful and usable data to our clients. I will cover the specific needs that our clients have, the key requirements that we have identified for our products to be useful to the financial and real estate sector and how we have addressed these. I will finish with takeaways for the academic community to make research more relevant to end users and decision makers.

Biography: Sally is a Senior Climate Scientist at Climate X. She works in a multi-disciplinary team of climate and hazard scientists addressing hazards from flooding to landslides. Climate X provides risk projections for the financial sector, enable banks and other institutions to better quantify their exposure to changing risks from natural hazards due to climate change. Building on the best research, they aim to bridge the gap between academia and the financial sector and extract meaningful value from climate data for their clients.