Climate-related data, tools and services have become critical in understanding global financial and company climate change risks

June 3, 2020
Since the Task Force for Climate-related Disclosure (TFCD) launched in 2015, the financial sector has been on a path to examine climate-related risks in lending, investments and insurance underwriting decisions, as well as downstream business clients
In effect, the TFCD represents a medium for bringing climate risk assessment to mainstream society. TFCD recommendations advocate for consistent and comparable climate-related risk disclosure for all financial and non-financial companies. It focuses on four key areas for assessment:

  1. Governance – of climate-related risks and opportunities

  2. Strategy – actual and potential climate-related risks

  3. Risk management

  4. Metrics and Targets

Simply put, climate-related data, tools and services have become the critical component to understanding global financial and company climate change risks. 

Oasis Hub has been working with our providers to bring a diverse range of climate change scenario data and tools to the market. Many of our commercial and academic sector providers are gearing up to supply the growing market for reliable, high quality, climate-related data and tools. As a result, Oasis Hub are now able to offer our members a range of climate hazards; flood, precipitation, temperature, soil moisture, sea-level rise, drought and water scarcity, wildfire, agricultural, windstorm and loss & damage – climate-related data, based on (greenhouse gas concentration pathways) RCP 2.6, 4.5 & 8.5 climate scenarios. 

Many specialist SME’s have been able to gear up their operations rapidly to assist companies globally on their stress testing and physical risk modelling needs. Furthermore, our specialist SME’s are also often able to tailor the resolution requirements needed for a diverse range of testing scenarios, from testing localised mortgage portfolios to large scale supply chain impact scenarios. Thus, local, national, international climate-related impact scenarios can be created for all levels and size of businesses and portfolios. This can also satisfy the needs of many large companies to compare and verify their risk with different data sources/ risk assessments.

Given Oasis Hub’s remit as a data hub and collaboration portal we are now able to provide data and services aggregation, specific to your business risks, thus helping you understand the range and best source of data for your particular risk assessment needs. We continue to grow our data web to supply all resolutions of data from local to global. We are able to collaborate with companies looking to climate risk assess their business operations, ensuring local, national and global climate-related risk assessments are possible, thus ensuring resilient and sustainable businesses in the future.  

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