5 October 2020News

JBA Risk Management launches Climate Change Analytics tool for financial institutions

JBA Risk Management has launched Climate Change Analytics (CCA), a platform designed to help financial institutions and investors to understand the potential long-term impacts of climate change, and to meet regulatory requirements.

Global regulators have discussed imposing new requirements around climate change stress testing for both insurance and the wider financial services.

CCA allows users to conduct property screening, regulatory stress testing, impairment charge assessment and portfolio management based on long-term property devaluation due to climate change.

The platform comprises the full range of representative concentration pathways (RCP) climate scenarios and represents every five-year time period from 2025 until the end of the century.

The data is available in a format that can be easily applied to in-house data at property-level for high resolution flood risk analysis, JBA said.

Vanessa Balmbra, property and financial sector specialist at JBA, said: “We’ve combined our extensive flood science expertise with the insights learned from our experience in global re/insurance and our long-standing relationships with the UK banking sector. We’re confident this resultant data will help global organisations plan for their future and understand possible flood risk under different climate scenarios.”