F.A.Q.

Climate Intelligence is business intelligence obtained through algorithms built from past, present, and predictive data.

It is used by decision-makers in both the public and private sector to adapt to climate change and mitigate risks attached to it.

There are many use cases for Climate Intelligence.

If you’re part of the private sector for example, you can use Climate Intelligence to make a more robust investment strategy. You can check the cost of maintenance for certain properties without spending a huge amount of time on manual research and accurately plan how much manpower you’ll need in the next couple of years.

On the other hand, if you’re from the public sector, you can generate science-backed budget and policy proposals for public establishments and future projects.

You can use CLIMATIG to assess climate hazards for any location within Europe an Mediterranean. (More regions coming soon!)

Climatig is designed for stakeholders in the following industries:

1. Banking

With Climatig, banks can identify and accurately measure the costs of natural catastrophes, leading to better planning and faster decision-making.

2. Insurance

Insurers can identify, measure, and take action against the greatest climate risks; wildfires, drought, floods, hurricanes, coastal flood and more. Insurers can narrow the protection gap by providing accurately priced policies – protecting customers, the economy, and their balance sheets.

3. Real Estate

Climatig can help real estate players identify mispriced assets, find resilient properties, and maintain existing assets amidst climate hazards. With these insights, decision makers can confidently adapt to climate change, build resilience, and manage risks.

4. Government Agencies

Climatig can move government agencies to action by helping them identify, measure, and analyse climate risks; cutting down on years’ worth of research & manpower needed to start protecting supply chains, infrastructure, and properties (both private & public).

5. Agriculture

The farming industry can use Climatig to generate cost predictions, optimize resilience planning, and analyse how climate hazards are set to affect operating costs. With the complexities of climate science out of the way, farmers can focus on more important things such as monitoring crop & soil quality and temperatures, and increasing their yields. This way, key decision makers could protect our farmers and communities from impending supply disruption and food insecurity.

6. Facility Management

Facility managers must leverage technology beyond smart locks and digital security systems. By integrating climate-intelligent solutions such as Climatig, facilities managers can adapt and respond to ever-changing environmental conditions for the long-term.

7. Homeowners

With Climatig, homeowners can calculate the future costs of maintaining their property should there be a flood, hurricane, or drought.

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RCP (Representative Concentration Pathways) scenarios are scenarios of greenhouse gas emissions developed by the IPCC (Intergovernmental Panel on Climate Change). These scenarios represent an assumption of the future climate, that is, an assumption about the movement of the concentration of greenhouse gases in the future.

RCP4.5 is, according to previous research, the “most probable” scenario. This is an intermediate climate scenario of greenhouse gas emissions where the assumption is that the greenhouse gas emissions will peak around 2040, then decline.

RCP8.5 is generally taken as the basis for the worst-case climate scenario of greenhouse gas emissions where the assumption is that the greenhouse gas emissions will continue to rise throughout the 21st century.

The Climatig Score is a composite risk index for a specific hazard. For example, the Climatig Score for heavy precipitation gives the risk of heavy precipitation for a specific asset (in a selected climate scenario and for a selected time period). Climatig Score values are between 0 and 100, where 0 indicates minimum risk and 100 maximum risk.

In order to calculate the Climatig Score, the results of climate models are used for the selected scenario (RCP4.5 or RCP8.5). Variables such as the total daily amount of precipitation, mean, minimum and maximum daily temperature, relative humidity, etc. were obtained from these climate models for the selected time period. Various climate indices which give us information about the frequency, length or the magnitude of an extreme event are then calculated. In addition to climate models, data from satellites were also used. For example, we get information about the distance of the asset from the forest, river or sea, or the type of soil from satellite data.

When viewing the results for one of the assets, you can get more detailed information about a specific hazard (and the climate indices related to it) by simply clicking on the name of the hazard. By clicking on location settings, you can see the main information about your asset obtained from satellite data.

If your asset is at elevated risk of a climate hazard, seek for advice on adaptation or protection measures you can consider reducing this risk.

Climatig cost is the change in costs (increase or decrease) due to the consequences of climate change compared to the reference historical period, in a selected period of time, assuming a selected climate scenario.

To calculate Climatig Cost, we use the calculated climate risks with entered asset’s cost data to create estimated cost predictions for the future. This calculation takes climate change into consideration, for the selected climate scenarios and time period.

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