
New climate change risk-screening service launched
Daily news headlines
NEWARK, CA – Risk Management Solutions (RMS) has developed a new service to identify the potential physical impacts of climate change on a company’s property and operations. The RMS Climate Change Risk Screening Service uses RMS’s proprietary natural catastrophe models together with climate model output to stress test the impact of future potential scenarios on business portfolios.
Information on the effects of climate change is combined with a range of physical and operational vulnerability measures – for example, a company’s capacity to adapt, its resiliency, and the sensitivities of its suppliers – to identify ‘hotspots of future risk’. The output is a detailed matrix of both qualitative and quantitative data on key risk factors for each property and operation within a portfolio, alongside a ranking of the properties most at risk to help prioritise adaptation needs.
“Climate change, and the global political and public response to it, presents a range of threats and opportunities for corporations in terms of their risk management, growth strategies and brand positioning,” says Celine Herweijer, director of the RMS climate change practice. “The issue is shifting from a peripheral corporate social responsibility concern to a topic for strategic deliberation among executives and investors worldwide. While investors and risk managers can increasingly analyse the financial implications of climate policy, we have witnessed a demand for a tool to evaluate the physical impacts of climate change adaptation, and developed the new screening service to meet this need.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Risk management
Op risk data: Stanford fraud haunts banks for billions
Also: Helaba’s crank capital relief; TSE stock price sanction; 1MDB mauls Mudabala. Data by ORX News
Hacked off: banks demand answers after Ion cyber attack
Clients left in the dark about ransomware attack that disrupted futures trading last month
Digital exposure makes fraud management a vital responsibility for financial institutions
Fraud management and detection continue to be an increasing area of concern for financial institutions worldwide
UBS takeover of Credit Suisse to trigger higher G-Sib surcharge
At 14.2%, UBS’s CET1 capital ratio is more than sufficient to absorb the deal
Nasdaq exec criticises VAR models in erratic energy markets
FIA Boca 2023: Model being adopted by rivals is “bad choice” for unpredictable assets, says exchange tech official
Ice exec rejects cloud for critical infrastructure
FIA Boca 2023: SVP Bland “can’t imagine” outsourcing critical infrastructure; DRW’s Wilson warns of concentration risk
Dealing with multi-currency inventory risk in FX cash markets
A market-making model that considers correlation, transaction costs and market impact is presented
Top 10 operational risks: focus on third-party risk
Ion hack deals industry painful reminder on drawbacks of outsourcing