WTW ushers in next generation of climate risk technology with launch of Climate Quantified™
June 03 2024 - 3:30AM
WTW (NASDAQ: WTW), a leading global advisory, broking and solutions
company, today unveiled ground-breaking technology capable of
quantifying the financial impact of climate change with an
unprecedented level of precision. Climate Quantified™ offers
‘anywhere, anytime’ access, transparently assessing how and when
physical and transition risks impact a company’s operations and
assets, through to their revenue and enterprise value.
The Software as a Service (SaaS) online tool
also evaluates the impact of climate risks on an organisation’s
customers and supply chain partners, as a necessary component of
understanding financial impact of climate risks. Assessing where a
business creates value and their exposure to a changing operational
landscape from climate risks brings a new level of clarity to
support strategic and operational decision-making.
By analysing the interactions and
interdependencies between climate risk factors and their impact on
business models, including physical risks, supply chain
vulnerabilities and regulatory changes, Climate
Quantified™ offers a far more robust analysis of financial
risk impact when compared to the more limited screening and
assessment of emissions alone.
Peter Carter, Head of Climate Practice at WTW,
said: “Whether assessing the impact of drought, tropical cyclones,
river floods or commodity price changes, Climate
Quantified™ is class-leading in its ability to measure the
physical and transition risks impacting a company’s assets and
products. By combining advanced, high-resolution climate data with
our in-house risk engineering, WTW offers a sophisticated solution
that quantifies risk in financial terms.”
Key capabilities of Climate
Quantified™ that support Chief Risk Officers and Chief
Sustainability Officers, with a focus on building resilience to
physical risks and managing the transition to net zero,
include:
-
Enables companies to quantify the financial impacts of climate
change on a portfolio of assets and products, whether owned or
belonging to a third party (e.g. supplier).
-
Quantifies asset property damage, business interruption and
exposure value today and under future scenarios associated with
drought (and water stress), tropical cyclone, riverine flood and
commodity prices.
-
For each product category and scenario, Climate
Quantified™ measures the impact of transition risk on revenue
and costs, plus the impact of managing or passing those costs
through to customers.
-
Designed to support business planning, due diligence, strategic
decision-making and compliance with evolving regulatory
requirements (e.g. CSRD, IFRS).
Ben Fidlow, Global Head of Core
Analytics at WTW, said: “Companies face increased losses from
physical risk and are assessing the need for investment and
transformation for the move to a low-carbon economy. Armed with a
clear, transparent and real-time view of the financial risks to
their business provided by Climate Quantified™, companies are well
placed to anticipate and respond quickly to emerging risks, make
better investments, reduce their reliance on vulnerable locations,
strengthen supply chains and protect their people. The outcome is
to ensure capital is allocated at the right time to protect against
climate-driven uncertainty and volatility.”
About WTW
At WTW (NASDAQ: WTW), we provide data-driven,
insight-led solutions in the areas of people, risk and capital.
Leveraging the global view and local expertise of our colleagues
serving 140 countries and markets, we help organisations sharpen
their strategy, enhance organisational resilience, motivate their
workforce and maximise performance.
Working shoulder to shoulder with our clients,
we uncover opportunities for sustainable success - and provide
perspective that moves you.
Learn more at wtwco.com.
Media contactAndrew Collis, +44
(0) 7932 725267 | andrew@acolliscommunications.com
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