Smart Innovators: Physical And Transition Risk Services

Executive Summary

After the Taskforce for Climate-related Financial Disclosures (TCFD) stipulated that large firms identify and quantify the physical and transition risks they face – and particularly as this reporting became the law in many jurisdictions – sustainability teams began turning to consulting firms and specialists to help them with these time-consuming and often technically challenging reports. Now, as the effects of the climate emergency make themselves felt in declining nature services and both chronic and acute natural disasters, these farsighted reporting exercises have come to feel more like survival plans – strategic guides for maintaining viability and profitability even in the short term. Consulting offerings have adapted in kind, taking on more business analysis and converting findings into implementation and adaptation. This report examines 12 of the largest providers of climate risk services, assessing their offerings across six primary dimensions to enable decision-makers to understand where innovation is occurring within the consulting space around physical and transition risk.