Smart Innovators: Climate Risk Digital Solutions
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Executive Summary
Demand for climate risk management has grown in recent years, due to current and upcoming climate disclosure regulations, changing climate policy landscapes, and investor demand, alongside the rising number of costly extreme weather events. Firms are increasingly turning to digital solutions to help them identify, monitor and address their climate risk exposure. This report provides buyers of climate risk digital solutions with a benchmark of 24 different providers across five categories of capabilities: physical risk analysis; transition risk analysis; financial and operational impact quantification; real-time risk planning for weather; and TCFD-aligned reporting and benchmarking. Executives should use this report to compare the relative capabilities of vendors, to inform their software purchasing decisions.
Table of contents
Climate Risks Threaten Firms’ Long-Term Viability And ProfitabilityIntroducing The Climate Risk Digital Solutions Market
Core Capabilities Include Physical And Transition Risks, Impact Quantification, And Benchmarking
Climate-Risk-Specific Providers And Financial Services Firms Dominate The Space
Providers Innovate With New Capabilities To Meet Market Needs
Three Factors Firms Should Consider When Choosing Climate Risk Digital Solutions
Table of figures
Figure 1. Multiple Challenges Are Driving Climate Risk Digital Solutions UptakeFigure 2. Selection Process For Identifying Vendors In Smart Innovators Analysis
Figure 3. Climate Risk Digital Solution Providers Capabilities Assessment
Figure 4. Climate Risk Digital Solutions Capabilities And Definitions
Figure 5. Firms Plan To Invest In Transition And Physical Risk Analysis At Equal Rates
Organisations mentioned
Acin, Bank of England, Baringa, BCG, BlackRock, BP, Capgemini, Cervest, Chevron, ClientEarth, Climate X, ClimateAI, Conning, Ecometrica, Eight Versa, Entelligent, European Central Bank (ECB), European Commission, ExxonMobil, Follow This, GRESB, Gro Intelligence, Guidehouse, Hawaiian Electric, ICE, Institutional Shareholder Services (ISS), Insurance Bureau of Canada, International Energy Agency (IEA), Jupiter Intelligence, Manifest Climate, McKinsey & Company, Moody’s, Nestlé, Network for Greening the Financial System (NGFS), One Concern, Ortec Finance, Planetrics, Risilience, Risk Frontiers, Risk Management Solutions (RMS), riskthinking.AI, risQ, S&P Global, Shell, Sustainalytics, Task Force on Climate-related Financial Disclosures (TCFD), The Climate Service, Urgentem, US National Centers for Environmental Information (NCEI), Verisk, World Gold Council, XDI SystemsAbout the authors
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