Strategic Focus: Five Ways Financial Services Firms Get Value From Climate Financial Data And Analytics
23 Feb, 2024
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Executive Summary
The financial sector is increasingly leveraging climate financial data – a market that is poised to grow from $450 million in 2022 to over $1.3 billion by 2028. This surge is being driven by stakeholders demanding sustainable, net-zero-aligned strategies. Key applications encompass guiding investment strategies for institutional investors, enhancing asset manager engagements, informing asset owners and private equity investment decisions, aiding banks with risk assessment, and developing sustainable financial products. This Strategic Focus report helps leaders at financial services firms see how peers are using climate financial data to work towards climate and net zero goals, while addressing challenges in data management and application.
Climate financial data have the power to reshape financial sector priorities
Financial firms ramp up use of climate financial data, due to stakeholder pressure
The five primary applications of climate financial data and analytics
Climate data providers are innovating to support each buyer type
Financial firms ramp up use of climate financial data, due to stakeholder pressure
The five primary applications of climate financial data and analytics
Climate data providers are innovating to support each buyer type
Figure 1. Five use cases of net zero data and analytics
Principles for Responsible Investment (PRI), Crown Castle International, Japan Government Pension Investment Fund, Task Force on Climate-related Financial Disclosures (TCFD), ABP, Goldman Sachs, California Public Employees Retirement System (CalPERS) , BlackRock, Prudential Financial, Ping An Insurance, Santander, Vista Equity Partners, Allianz, Bloomberg, Harvard University, S&P Global, KKR, HSBC Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, Legg Mason, Yale University, Government Pension Fund of Norway, PIMCO, Ontario Teachers’ Pension Plan, State Street, Willis Towers Watson (WTW), Neuberger Berman, Stanford University, riskthinking.AI, UN Net-Zero Asset Owner Alliance (NZAOA), Geode Capital Management, Franklin Resources, Man Group, Vanguard, Vivid Economics, Princeton University, China Investment Corporation, Fidelity Investments, Risilience, Morningstar, Moody’s, Wellington Management, Annaly Capital Management, Wells Fargo, BNP Paribas, Bank of America, EQT, Prologis, T. Rowe Price, Blackstone, The Carlyle Group, Schroders, HDFC Bank, Sphera, Thoma Bravo, Warburg Pincus, Bain Capital, Science Based Targets initiative (SBTi), Morgan Stanley, Capital Group Companies, Barclays, TPG Rise Climate, Nuveen Investments, Persefoni, Legal & General, Munich Re, Lazard Asset Management, MSCI, Macquarie Group, J.P. Morgan, Watershed, Invesco, Amundi, Royal Bank of Canada, Citigroup, FTSE Russell
About the Authors
Adam Barnard
Principal Analyst
Adam is a Principal Analyst in the Verdantix Net Zero & Climate Risk practise. Prior to joining Verdantix, Adam was a Director at an environmentally focused US investment …
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Ryan Skinner
Research Director
Ryan is a Research Director at Verdantix, where he leads a team of analysts delivering research, data and advisory services that help clients navigate the fast-evolving landsc…
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