Verisk and S&P Global Energy partner in data-share to bridge climate risk intelligence gap

S&P Global Energy, a division of S&P Global, and Verisk, a strategic data analytics and technology solutions provider, have joined forces in a data-sharing collaboration designed to provide climate catastrophe exposure data and insights for the financial and insurance sectors.

Verisk’s physically based near-present climate catastrophe risk data will be integrated into S&P Global Sustainable1 Climanomics physical climate risk platform to quantify the insured and uninsured financial impacts of future climate and near-term natural catastrophe events. 

Vantage and S&P Global believe the partnership will offer a strong, auditable foundation for both insurance and financial institutions to manage climate risk with greater precision than previously possible.

Additionally, the S&P Global Sustainable1 climate-adjusted inland flood data will be incorporated with Verisk event simulations to generate a set of future-projected climate events modelled for the first time through 2050. This dataset will be delivered through Touchstone, Verisk’s catastrophe risk modeling platform, to translate the impact of climate change on flood event intensity and insurable loss, enabling estimation of future changes to portfolio risk due to climate change for insurers. 

Rob Newbold, president of Verisk catastrophe and risk solutions, said: “Financial institutions are under pressure to quantify climate risk with accuracy and transparency. By combining Verisk’s state-of-the-art catastrophe models with S&P Global Energy’s climate risk analytics, we’re empowering the market with a credible, and auditable foundation for strategic decisions addressing climate and physical risks.”

Thomas Yagel, head of Sustainable1, S&P Global Energy Horizons, said: “We’re committed to innovation, and we’re excited to offer this new risk solution to our clients and the marketplace to help them model and mitigate physical risks. Together, we’re helping clients increasingly move from reactive climate-related compliance to proactive resilience—setting a new standard for how the industry approaches risk in a changing world.” 

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