The partnership will make Riskthinking.AI’s comprehensive climate and economic data sets available for stochastic modelling of Physical and Transition risk.
New York, NY and Toronto, ON, September 19, 2022: Linux Foundation’s OS-Climate, the nonprofit organization providing open-source data and software tools for climate-aligned finance and investing, and Riskthinking.AI, a leading climate risk management company, today announced a strategic partnership to make stochastic climate risk data available to OS-Climate members.
Riskthinking.AI’s ClimateWisdomTM data platform is built on a corpus of over 6 petabytes of historical and forward-looking climate and economic data, covering the period 1850 to 2100. Its platform aligns projections from every credible global climate model, all experiments on those models, all transition scenarios, as well as all socio-economic data into a single, comprehensive data repository. Of 100,000+ datasets in this repository, Riskthinking.AI will make 17,000+ data sets freely available to members through either the OS-Climate data commons or through the ClimateWisdomTM API. Access will also include any updates and additional data sets that Riskthinking.AI ingests in the future.
Truman Semans, CEO of OS-Climate, said: “Our partnership with Riskthinking.AI will be a major
enabler of our member firms’ ability to anticipate and understand how a changing climate may impact their assets across the world. Riskthinking.AI is the first and only organization to have collected, aligned, and provided secure API access to the full array of credible climate and economic projections. We know our members will find tremendous value in this data.”
Ron Dembo, CEO of Riskthinking.AI, said: “We are honored to partner with OS-Climate on this important initiative. ClimateWisdomTM is unique in its ability to address the stochastic nature of climate change, and offers our clients unparalleled insight into the uncertainty surrounding the future impact of climate stress. We are proud of the data platform our team has developed, and we look forward to working with OS-Climate members as they manage the radical uncertainty of climate change.”
The ClimateWisdomTM data series will be available via secure API feed beginning September 2022. OS-Climate member firms interested in accessing the data series can do so via the Global Data Commons.
For more information and full access to ClimateWisdom™ – its 100,000+ datasets and its accompanying analytics engine – please contact Ted Obenchain, SVP at Riskthinking.AI.
Linux Foundation’s OS-Climate 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 uses the open collaboration approach that delivered rapid COVID vaccines, applying that to solve data gaps now blocking rapidly scalable transition of capital toward a resilient Net Zero economy.
Members contribute their data scientists, modellers, and software developers to cooperative projects building the OS-Climate Data Commons, a federated library of libraries of corporate and factor data, plus analytics tools to derive the actionable metrics crucial for asset allocation, portfolio construction, security analysis, credit analysis, corporate engagement, strategic planning and transition investment by corporates, and financial sector supervision. For more information visit OS-Climate.
Led by Dr. Ron Dembo, former founder and CEO of Algorithmics Inc., Riskthinking.AI produces the only financial risk ratings that truly account for the full uncertainty of climate stress. Unlike climate risk companies that attempt to predict the future, Riskthinking.AI uses sophisticated probability models, augmented by AI and the world’s largest climate and economic data set – ClimateWisdomTM – to help companies and investors manage the extreme uncertainty of climate change. Their stochastic solution is unique in its ability to probabilistically model the entire range of scientific uncertainty surrounding the risk factors relevant to any asset, wherever that asset is located, across the entire surface area of the planet. Their approach is used by companies and investors across the world to measure and manage financial risks and understand the likelihood of gains vs. losses across any asset type, class, or sector. For more information visit Riskthinking.AI.
Members and Community
OS-Climate’s asset owner, asset manager, bank, technology, financial data, and ‘real economy’ corporate members are Airbus, Allianz, Amazon, BNP Paribas, BNY Mellon, EY, Federated Hermes, Goldman Sachs, London Stock Exchange Group, Microsoft, the UN-convened Net Zero Asset Owner Alliance ($10.6 trillion AUM), Ortec Finance, Red Hat, and S&P Global. NGO and academic Members include CPI, Open Climate Foundation, Polytechnique, and the World Benchmarking Alliance. Research NGOs sharing human capital and world-leading insights with OS-Climate include the World Resources Institute, RMI, and the London School of Economics through the Transition Pathways Initiative. Other data partners include Jupiter Intelligence, Riskthinking.AI, and Urgentem.
About the Linux Foundation
Founded in 2000, the Linux Foundation and its projects are supported by more than 2,950 members. The Linux Foundation is the world’s leading home for collaboration on open source software, hardware, standards, and data. Linux Foundation projects are critical to the world’s infrastructure including Linux, Kubernetes, Node.js, ONAP, Hyperledger, RISC-V, and more. The Linux Foundation’s methodology focuses on leveraging best practices and addressing the needs of contributors, users, and solution providers to create sustainable models for open collaboration. For more information, please visit linuxfoundation.org.