Climate Intelligence: Key to Resilient Banking

Bank of England (BoE) stated that banks and insurers that fail to manage climate risks as a “first-order” issue could face a 10% to 15% hit to annual profits and higher capital requirements.

As a silver lining, we are fortunate to live in a time when technology is advanced. Artificial Intelligence is one of the most transformative technologies and one of the most promising possibilities for environmental and ecosystem well-being.

To help alleviate climate risks, adaptation to climate intelligence is crucial.

Climate Intelligence is a data-driven methodology that allows algorithms to make accurate predictions.

To carefully assess and come up with efficient strategies against climate-related events, it is important to seek help from promising companies with intelligent solutions and smart data. CLIMATIG provides a service that gives reliable forecasts of climate change impact on a particular geolocation.

Climate disaster is the greatest environmental threat of our time, and financial institutions should know how to be better prepared in these situations. Responsibility for financial and macroeconomic stability implicitly or explicitly lies with the central bank, which therefore ought to address climate-related and other environmental risks on a systemic level.

Banks must adapt to climate intelligence to arrive at an accurate forecast and sustainable solutions in eradicating the drastic effects of extreme weather events.

Clients are every day more conscious of sustainability factors and they prefer banks that demonstrate that they are committed to doing well by doing good.

CLIMATIG equips organisations with the technical tools necessary to speed this vital revolution in how businesses and economies tackle climate risks.

CLIMATIG is powered by smart and trusted climate data with clear and concise predictions which can accurately create financial forecasts attached to climate risks like drought, strong winds, floods, forest fires, etc. With such functions and advanced climate intelligence, a financial institution can be a leap ahead among many others in mitigating climate risks and reaching the objectives of the Paris Agreement.

 

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