Growing frequency of extreme weather catastrophes alongside regulatory ESG and climate reporting requirements is driving demand for analytics
RMS has launched a new suite of Climate Change Models to help customers assess the near and long term impacts of climate change on physical assets and their businesses.
According to RMS CEO, Karen White, “With increasing board-level attention, stakeholder scrutiny, and regulatory pressure, businesses need to operationalise climate change analytics to make better decisions and enable better transparency. It is clear that the financial impacts of climate change are not solely a ’future problem’.
“The increasing incidence of wildfires, floods and hurricanes mean that climate change insights need to be incorporated into financial decisions that are being made today, in parallel with long term strategic planning and meeting increasing regulatory, environmental, social and governance (ESG) and TCFD reporting requirements, and investor and customer demands.”
”This necessitates a climate change framework and models fully consistent with today’s catastrophe risk analytics and one which addresses the challenges posed by physical climate change risk and its broad impact across all relevant time scales – from today through to the end of the century.”
Most RMS models already incorporate the impact of climate change up, but the new models take existing capabilities further with forward-looking predictive insights and analysis.
They will be generally available in June for major peril models North Atlantic Hurricane, Europe Inland Flood and Europe Windstorm. Further models and geographies will follow this initial model suite launch.
The RMS climate change solutions also include climate change specialist advisory and consulting expertise and regulatory, ESG and TCFD support.