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Thursday 15 October 2020

IBM forms FS risk partnership with The Climate Service

IBMIBM has announced a global alliance with The Climate Service as it looks to help financial services clients to quantify the risks faced due to climate change. The Climate Service is a specialist in climate risk analytics and provides services to investors and corporate clients via its TCS Climanomics software platform.

As a result of the partnership, IBM is making TCS Climanomics available to its clients via Red Hat OpenShift on the IBM Cloud. The alliance should provide organisations with dedicated tool with which to price climate risk and to meet the reporting requirements of the Task Force on Climate-Related Financial Disclosures (TCFD).

In the face of COVID-19 it’s perhaps easy to forget the greatest threat facing our planet, however, market participants are increasingly seeking ways to effectively quantify the growing risks associated with climate change. As a result, demand for offerings such as the TCS Climanomics platform is only likely to grow and IBM's partnership looks astute.

Meanwhile, in a similar vein, I was struck yesterday by the opening lines of an address delivered by Fujitsu CEO, Takahito Tokita. “In a time of great change, Fujitsu’s role is to help realize a more sustainable world by building trust in a new society”. As leaders increasingly realise we are in the midst of something truly seismic, some are perhaps re-assessing not only their technology priorities but their overall “purpose” (see: Financial Services SITS Prospects for a Post-Covid World.

Posted by: Jon C Davies

Tags: ibm   theclimateservice  

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