BIP joins OS-Climate Governing Board and will co-lead the Development
and Market Adoption of the Open Source Physical Risk & Resilience
Project
15 May 2024 – LONDON – BIP, a leading multinational consultancy firm, announces today
that it is joining OS-Climate (OS-C), a Linux Foundation-backed open source project that is
building the breakthrough technology and data platforms needed to more fully integrate the
impacts of climate change in global financial decision-making and risk management.
BIP’s Johnny Mattimore will join the OS-C Governing Board and BIP will co-lead with
BNP Paribas the further development of the open source architecture and end-user tooling
for Physical Risk and Resilience (PRR), one of OS-C’s flagship projects. This will include
the measurement, monitoring and management of the future valuation risk embedded in
physical assets related to climate risks and associated sustainability risks, commencing with
Mortgages.
Johnny Mattimore commented: “OS-C has a long-standing commitment to solving the
valuation problems facing the financial system from climate risk. It has been at the forefront
of developing the open source layers of architectural componentry to solve this problem.
OS-C has emerged as a leading accelerator for mass market integration of climate and
sustainability into the existing financial system infrastructure. At the core of this is a set of
foundation building blocks for leveraging open data to help the wider market deliver:
● an agile, secure, cloud-native architecture;
● for reporting, analysis and risk;
● that supports the delivery services at high speed, large scale and lower cost.
This problem is one of the greatest challenges and opportunities of the next decade. I
believe that adopting open source is the only way one can achieve a viable solution in a
timely, affordable and consistent manner.”
Alistair Lovegrove, Chief Strategy Officer BIP UK: “This is a landmark strategic decision for
BIP as we embark on a further commitment to finding the best solutions for our clients. The
development of open source is central to solving the many business problems that are
complex and costly for our clients. Solving the integration of climate and wider sustainability
data into traditional finance is a huge challenge for the market. By combining the leading
open source capabilities of OS-C with client’s preferred proprietary tooling, we can deliver
significant and differentiated value for all of our clients and benefits for the wider market.”
Truman Semans, CEO OS-C, commented: “We believe this important new relationship with
BIP will significantly boost OS-C’s ability to drive repricing across markets. Working together
with BIP, OS-C can have much greater climate impact through large-scale adoption across
financial services and business activities. The development and refinement of digital public
goods that OS-C creates with its members and collaborators and wraps this open capability
around expert advisory for BIP’s clients.”
Matt Sandoe, OS-C Physical Risk Lead, commented: “BIP will be a significant accelerating
force within the Physical Risk & Resilience project. It is completely aligned with our vision of
a common layer of modular, open code serving the needs of financial institutions. Johnny
has a deep and broad understanding of the problems facing the market. He brings many
decades of experience and highly innovative thinking to the existing pool of talent already at
OS-C and I look forward to further advancing our success through this collaboration.”
Michael Tiemann, OS-C Project Lead, commented: “The Open Source community always
welcomes those who understand the core principles of Open Source collaboration and
especially those who are ready to make Open Source contributions. BIP’s vast technical
resources and strategic perspective and capabilities will greatly increase the impact that the
OS-Climate community can bring to sustainable finance. I’m particularly excited to welcome
Johnny as a co-lead of the Physical Risk and Resilience project. Municipalities, corporates,
and investors all stand to gain by having reference models and transparent methodologies
for evaluating risk and planning greater resilience in a rapidly changing climate.”
– Notes –
About BIP
BIP is a leading multinational consultancy firm employing over 5,000 people worldwide. Its
professionals offer management consulting and digital transformation services and lead
companies in researching and adopting innovative technological solutions. For more
information, go to: https://www.bip-group.com/
About OS-Climate
Linux Foundation OS-Climate (OS-C) is a breakthrough initiative creating a transparently
governed public utility of open data and open source tools for climate-aligned finance
investing, business, and regulation. OS-C has established an Open Source collaboration
community to build a data and software platform that will dramatically boost global capital
flows into climate change mitigation and resilience. As an Open Source collaboration
community, our goal is to build analytical tools and a data commons platform which enables
the access, generation and structuring of relevant, global datasets. The platform, data, and
tools work in combination to generate vital information that can inform climate-related
decision making. For more information, go to: https://os-climate.org
Press Contacts
BIP: George Tresnan
george.tresnan@bip-group.com
OS-Climate: Truman Semans
tsemans@linuxfoundation.org
