Strategic Focus: Five Ways Financial Services Firms Get Value From Climate Financial Data And Analytics
Adam Barnard
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
ABP, Agricultural Bank of China, Allianz, Amundi, Annaly Capital Management, Bain Capital, Bank of America, Barclays, BlackRock, Blackstone, Bloomberg, BNP Paribas, California Public Employees Retirement System (CalPERS) , Capital Group Companies, China Investment Corporation, Citigroup, Crown Castle International, EQT, Fidelity Investments, Franklin Resources, FTSE Russell, Geode Capital Management, Goldman Sachs, Government Pension Fund of Norway, Harvard University, HDFC Bank, HSBC Bank, Industrial and Commercial Bank of China, Invesco, J.P. Morgan, Japan Government Pension Investment Fund, KKR, Lazard Asset Management, Legal & General, Legg Mason, Macquarie Group, Man Group, Moody’s, Morgan Stanley, Morningstar, MSCI, Munich Re, Neuberger Berman, Nuveen Investments, Ontario Teachers’ Pension Plan, Persefoni, PIMCO, Ping An Insurance, Princeton University, Principles for Responsible Investment (PRI), Prologis, Prudential Financial, Risilience, riskthinking.AI, Royal Bank of Canada, S&P Global, Santander, Schroders, Science Based Targets initiative (SBTi), Sphera, Stanford University, State Street, T. Rowe Price, Task Force on Climate-related Financial Disclosures (TCFD), The Carlyle Group, Thoma Bravo, TPG Rise Climate, UN Net-Zero Asset Owner Alliance (NZAOA), Vanguard, Vista Equity Partners, Vivid Economics, Warburg Pincus, Watershed, Wellington Management, Wells Fargo, Willis Towers Watson (WTW), Yale University
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 …
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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