![Risk.net](https://www.risk.net/sites/default/files/styles/print_logo/public/2018-09/print-logo.png?itok=1TpHrpuP)
New climate change risk-screening service launched
Service aims to identify the impact of climate change on a firm’s operations
NEWARK, CA – Risk Management Solutions (RMS) has developed a new service to identify the potential physical impacts of climate change on a company’s property and operations. The RMS Climate Change Risk Screening Service uses RMS’s proprietary natural catastrophe models together with climate model output to stress test the impact of future potential scenarios on business portfolios.
Information on the effects of climate change is combined with a range of physical and operational vulnerability measures – for example, a company’s capacity to adapt, its resiliency, and the sensitivities of its suppliers – to identify ‘hotspots of future risk’. The output is a detailed matrix of both qualitative and quantitative data on key risk factors for each property and operation within a portfolio, alongside a ranking of the properties most at risk to help prioritise adaptation needs.
“Climate change, and the global political and public response to it, presents a range of threats and opportunities for corporations in terms of their risk management, growth strategies and brand positioning,” says Celine Herweijer, director of the RMS climate change practice. “The issue is shifting from a peripheral corporate social responsibility concern to a topic for strategic deliberation among executives and investors worldwide. While investors and risk managers can increasingly analyse the financial implications of climate policy, we have witnessed a demand for a tool to evaluate the physical impacts of climate change adaptation, and developed the new screening service to meet this need.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Risk management
AI could cut time for money laundering checks by 99%
Leading crypto exchange rolling out large language model for enhanced due diligence checks
Counterparty risk model links defaults to portfolio values
Fed’s Michael Pykhtin proposes using copula models to capture effects of margin calls on default risk
Clearing members cry foul over restrictive FICC rule change
Draft interpreted as attempt to obstruct rival clearing houses entering US Treasuries market
More data urged for effective counterparty credit risk management
Disclosure of client positions may not be commercially realistic, expert warns
US Fed reveals its five use cases for generative AI
Internal sandbox used to assess viability and risks; coding and content generation on the agenda
House of cards? The $3 trillion (non-systemic) real estate risk
Regional banks share the bulk of US commercial real estate exposure, but the sector’s downturn doesn’t faze them
US election a ‘classic inflection point’ – Rory Stewart
Risk Live: Podcaster and former politician talks geopolitical risk and UK politics in keynote speech
FRTB data-quality issues persist amid shifting start dates
Even the standardised approach poses tricky market and reference data challenges