(Image source: NASA.)
Jupiter (San Mateo, Calif.), a provider of predictive data and analytics for climate risk and resilience, has launched ClimateScore Global, which the vendor describes a next-generation climate risk analytics tool that provides physical risk assessment for any point on the land surface of the planet through the year 2100. Designed to support decision-making across a wide range of industries, ClimateScore Global is designed to predict future physical risk from flooding, extreme heat, high wind, drought, wildfire, hail, and earthquake. When ClimateScore Global is combined with Jupiter’s high-resolution ClimateScore Planning suite, they form the only global to street-resolution climate risk analytics solution, the vendor asserts.
“ClimateScore Global’s scope and granularity enables users across numerous industries and the public sector to project how a portfolio of assets may be affected by climate change: the perils it will be exposed to, the driving segments and locations, and how that will change over time and across varying carbon emissions scenarios,” a vendor statement says. “ClimateScore Global incorporates dozens of the scientific community’s most authoritative climate models coupled with machine learning, land use and elevation data, and models for hydrology, wildfire, severe weather, and other variables.”
Features of ClimateScore Global include the following, as described by the vendor:
- Metrics to directly measure flood, wind, heat, wildfire, drought, hail, and earthquake physical risk, each offered at multiple customizable return periods and peril thresholds, and put into context for users via scores and benchmarks by region
- Best-in-class spatial resolution available worldwide, tailored to required use cases and providing a single, consistent solution for quantifying climate risk for globally distributed companies, supply chains, and portfolios
- Data available at five-year increments from 2020 through 2100, enabling medium-term and long-term projections of future risk
- Directly maps physical climate risk to financial impact by peril, region, asset, or sector
- Supports multiple climate change scenarios to quantify how risk responds to different political responses to climate action
- Delivery of data via on-demand reports, APIs, industry-standard data science tools, and interactive applications
Jupiter reports that its existing customers, including Tokyo-based MS&AD, have already deployed the ClimateScore Global platform to better understand the impact of long-term physical risks to their portfolio as well as their clients.
“Our clients need to quantify climate-related risk at the asset level across their portfolios over time and based on different scenarios, which is in accordance with Taskforce on Climate-Related Financial Disclosure (TCFD) recommendations,” comments Terumi Nakamura, CEO, MS&AD InterRisk Research & Consulting. “We’re looking to Jupiter and ClimateScore Global to help us model probable impacts of perils from extreme weather at hyperlocal resolution, based on different emissions scenarios. It is very attractive that their service allows us to analyze potential natural hazard risks on flood, high wind, and extreme heat today and for every 5 years through to 2100.”
Intelligently Managing Capital Planning
ClimateScore Global help firms intelligently manage their capital planning and strategy issues and address rapidly increasing physical risks and regulations as well as shareholder demands, including increased TCFD reporting, according to Rich Sorkin, CEO of Jupiter. “In an era where a pandemic has severely disrupted the global economy and revealed the fragility of supply chains, it will be especially important to focus on this next set of critical risks as the economy recovers,” he says.