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On climate data for climate related financial disclosures

Harilaos Loukos
Harilaos Loukos
Harilaos LoukosClimate/Weather entrepreneur

Talk given at the Sustainable Finance Forum Europe in Paris on March 2019

On climate data for climate related financial disclosures

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On climate data for
climate related financial disclosures
Harilaos Loukos – CEO theclimatedatafactory.com
Sustainable Finance Forum Europe, Paris, March 2019
WHAT WE DO
We are a commercial climate data provider
IPCC climate model data for impact studies
4300 cities and 100 countries
>450 users from >95 countries
Working with scientists, physical risk consultants, engineers ..
TCFD CONTEXT
ASSESSING PHYSICAL RISK
On assets, operations, supply chain, demand, workforce ..
Company X is
impacted by
changing climate
Asset managers
evaluate impact
on asset price
Company X
evaluates cost of
changing climate
1 2 3
“..the physical risks are not only overlooked in
valuation models, but often completely omitted
from forward-looking strategic and risk
management disclosures”
EY Global Climate Risk Disclosure Barometer 2018
Ad

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On climate data for climate related financial disclosures

  • 1. On climate data for climate related financial disclosures Harilaos Loukos – CEO theclimatedatafactory.com Sustainable Finance Forum Europe, Paris, March 2019
  • 2. WHAT WE DO We are a commercial climate data provider
  • 3. IPCC climate model data for impact studies 4300 cities and 100 countries >450 users from >95 countries Working with scientists, physical risk consultants, engineers ..
  • 4. TCFD CONTEXT ASSESSING PHYSICAL RISK On assets, operations, supply chain, demand, workforce ..
  • 5. Company X is impacted by changing climate Asset managers evaluate impact on asset price Company X evaluates cost of changing climate 1 2 3
  • 6. “..the physical risks are not only overlooked in valuation models, but often completely omitted from forward-looking strategic and risk management disclosures” EY Global Climate Risk Disclosure Barometer 2018
  • 7. TCFDs quality rating (100 scale) From EY Global Climate Risk Disclosure Barometer 2018 19 Asset Management 27 Financial Sector 33 Non financial Sector
  • 8. OUR 2 CENTS GUESS
  • 9. Recommended by TCFD but without practical guidance except referring to CMIP5 version of the data, scenario RCP8.5 and key variables The IPCC climate model data are hard to access and handle
  • 10. IPCC climate models data volumes Data storage, access, and processing has become a challenge 2 PB IPCC Report 5 2011/13 0.04 PB IPCC Report 4 2005/7 >100 PB IPCC Report 6 2019/21
  • 11. Physical risks assessments require accessible, quality and reliable climate data
  • 12. FILE MERGING CALIBRATION QUALITY CONTROL REMAPPING SAMPLING FORMATING READY TO USE DATA RAW DATA Physical risk modeling needs processed daily climate data What we do for our users
  • 13. Challenge your TCFD consultants on the climate data they use Build in-house knowledge about IPCC climate data Make sure to use up-to-date and processed data TAKE HOME MESSAGES Practical guidance and reference climate data for TCFDs remains an open question