S&P Global acquires The Climate Service

Dr Richard Mattison, President, S&P Global Sustainable1.

S&P Global has acquired climate risk modelling platform The Climate Service.

The ratings and data firm will add The Climate Service’s climate data, models and analytics to its existing suite of ESG solutions, Sustainable1.

The Climate Service, founded in 2017, developed the Climanomics platform to quantify climate risk.

It provides modelled transition risk and physical risk analysis in financial terms. Physical risks include extreme temperatures, drought, wildfire, coastal flooding, cyclone, and water stress. Transition risks the platform covers include changing legal, regulatory, and market conditions. The outputs are aligned with recommendations from the Task Force on Climate-related Financial Disclosures.

“More than ever, investors and companies seek evidence-based insights, high quality data and advanced analytics to support the decisions driving their strategies linking sustainability and business performance,” says Dr Richard Mattison, President, S&P Global Sustainable1.

He adds, “We are delighted to introduce the best-in-class offering of The Climate Service to S&P Global’s ESG solutions, bringing an additional layer of critical insight to our leading suite of climate analytics. Our comprehensive coverage across global markets combined with in-depth ESG intelligence provides financial institutions, corporations and governments with the clarity and confidence to make decisions with conviction.”

“We are passionate about providing the market with the essential information it needs to make smart decisions in the face of climate change,” says James McMahon, CEO, The Climate Service. “Together with S&P Global, we will take our climate risk capabilities to the next level and be able to deliver insights at scale that the world urgently needs.”

©Markets Media Europe 2021

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