Insights that turn Climate risk Data
into resilience

At first glance, droughts and floods appear to be opposite natural processes that cannot occur simultaneously. But delve deeper, and you'll discover that they are siblings, birthed by a common parent – a warming atmosphere. Just as siblings with dissimilar personalities can coexist in the same family, a region can simultaneously grapple with drought and be susceptible to flooding.

This is a historic month in the U.S. for climate change disclosures - California crossed the first legislative hurdles to establish the first climate disclosure rule in the U.S. The state assembly and senate passed two bills targeting climate disclosures: SB253 mandates greenhouse gas disclosures and SB261 mandates climate-related financial risk disclosures. Both bills are now in the Governor’s office awaiting approval within 30 days of passing the senate votes. Governor Newsom was quoted saying that he will sign both bills after cleaning up some of the language.

Here are the most significant climate-related news and events that unfolded in August, highlighting the pressing need for global action to mitigate and adapt to the changing climate.

The extreme heat we are currently experiencing is proof of the impact of climate change as cities across the world are scorching, delivery drivers are looking at striking due to extreme conditions, and people are becoming ill. This heat issue from climate change is expected to persist and worsen as time goes on if we don’t course correct. One industry (in addition to many) that Jupiter believes will be impacted is outdoor sports including baseball. Will people stop attending games or will open air stadiums change their game times to cooler times of day? Will concession stands see fewer employees or more of them becoming ill from heat stroke? These economic impacts remain to be seen, but we do know that the record-breaking extreme heat we are experiencing now is a baseline for what is to come.

The top climate related news headlines for July

June 2023 witnessed several significant events, heatwaves and progress toward climate disclosures. Here’s a summary of the top 5 news mentions for the month of June.

As the impacts of climate change continue to manifest in myriad ways, some businesses are turning to global climate models (GCMs) for physical climate risk data and analytics. But there is growing evidence that GCM data, if used directly, can lead to inaccurate risk analysis and, consequently, flawed business decisions.

The construction industry is facing tremendous challenges due to inflation and the threat of a recession, but the quiet and looming threat is climate change, and it is one that will lead to great changes for the sector moving forward.

In the month of May, climate news centered around alarming rising temperatures and the impacts of climate change on various industries including oil and gas, insurance and financial services.

Strategic steps organizations can take to prepare for tomorrow’s climate change risks today

In recent years, there has been a growing awareness of the risks posed by climate change to financial institutions and their mortgage portfolios. As a result, we've seen a rise in climate and sustainability initiatives being added to traditional risk roles.

A guide for leaders looking to adopt climate change risk management practices

The Climate Resilience Maturity Index consists of five levels. At the earliest stage of maturity are “novices” with a limited understanding of the risks of climate change to the business. At the most advanced stage are data-driven “cutting edge” companies that have incorporated climate risk into their overall business strategy and are using climate data for value creation, a competitive advantage, and growth strategies. Organizations that are beginning to understand climate change risk to the business fall into the novice or intermediate levels of The Climate Resilience Maturity Index.

In a recent Jupiter webinar, our experts discuss the effects that organizations are already seeing across their value chains and how they are approaching climate adaptation strategies.

The top climate risk news highlights for April

Climate Change-Driven Extreme Heat Already Poses a Serious Risk. A Future Visitor to Zion National Park Examines Its Impact on the Park’s Microclimates.

In this podcast, Josh Hacker discusses why climate change is relevant for companies, what they can do about it, and how Jupiter Intelligence is leading the way. We unpack the various types of climate risks, the role of machine learning, and the validation process.

Want to see how prepared your organization is for the effects of climate change? Find out your level of risk and resilience and get expert insights on how to better safeguard your company’s investments in the new eBook from Jupiter, The Climate Resilience Maturity Index.

The latest climate news for March emphasizes the urgent need for immediate action. Every day, scientists, governing and standards bodies, and financial agencies warn that climate change poses severe threats to global economic stability, and reporting on those risks is key to building resilience.

Understand the importance of TCFD bottom-up climate risk reporting and how physical risk metrics fit in.

Hampered by a historical focus and other shortcomings, cat models can’t adequately quantify future risk in a rapidly changing climate. Analytics based on best-in-science climate models give insurers a far-sighted assessment of climate-driven impacts.

The statistical sciences have had, and will continue to have, a critical impact on climate analytics as a growing field. Climate change is already affecting broad swaths of society and is projected to continue and, in many cases, increase in the future. Climate risk analytics is emerging as a powerful tool to help companies, governments, and other entities understand their climate risk and build resiliency in response.

The top climate risk news highlights for February

Learn more about the Fed’s first step to ensuring banks understand and manage the risks of climate change including climate-induced events such as floods, wildfires, hurricanes, heat waves and droughts, and the impacts these have on their loan portfolios and commercial real estate holdings.

How Your Business Can Begin Its Climate Journey Right Using Physical Risk Data

Jupiter January Climate News Wrap-Up

‍A Critical Analysis Of Regional Climate Models Reveals That They Cannot Be Assumed To Be More Accurate, Or More Useful, In Quantifying Future Risk From Extreme Weather.

Moving The Needle On ESG And Climate Risk, An Expert Panel Recap from the Energy Risk Conference 2022

A Recap of 2022’s Weather & Climate Disasters and a Plea for Action

In 2023, Pressure From Regulators, Investors, And The Public Will Build Momentum For Climate Risk Disclosure.

What Climate Science and Physical Risk Data Can Reveal About Your Vulnerability to Climate Change—and How to Improve Resiliency

Climate data, integrated into engineering workflows, can help electric power utilities optimize risk management, capital plan

The IEA leveraged Jupiter’s climate physical risk metrics in order to quantify the financial impact on a cohort of four critical energy infrastructure sites

The EU Taxonomy regulations' influence extends beyond the European Union’s borders.

The EU Taxonomy is the centerpiece of the European Union’s Sustainable Finance Package, and assessing vulnerability caused by physical climate risk is an important activity confronting reporting companies.

How to make your way through the competing—and often confusing—claims of the rapidly growing risk data labyrinth.

ClimateScore Global Significantly Expands Metrics for Heat, Chronic Winds, and Precipitation

While Transition Risk And Emissions Reduction Take The Focus In The Inflation Reduction Act (2022), Physical Risk Assessment, Mitigation, And Resiliency Are Integral To Its Mission

Jupiter’s market-leading, best-in-science physical climate analytics are crucial to prompt, satisfactory SEC compliance.

For disclosure purposes, the SEC categorizes two types of climate-related risks: transition risks, due to the shift to a low-carbon economy, and physical risks, caused by climate-change-related alterations to the physical environment that lead to severe and frequent natural disasters.

Several customers have already published TCFD disclosures that are explicitly powered by Jupiter metrics.

The SEC Is Changing The Landscape Of Climate Risk Disclosures Required From Companies And Organizations to include scenario analysis.

How the SEC Proposal Is Changing The Landscape Of Climate Risk Disclosures Required From Companies And Organizations.

The SEC has changed the climate risk disclosure landscape.

Jupiter Advocates That Top US Regulator Require Banks To Manage Climate Risk Based On Objective And Transparent Data

“What was a global advocacy movement is now firmly rooted in prudential oversight activities”

This series regularly highlights the evolving worldwide regulatory policies surrounding the reporting of climate risk exposur

Climate change analytics enables firms to adopt a robust, sustained view of both risk and opportunity. A recent collaboration

AR6 Is A Call To Action: Climate Change Impacts Are Pervasive, More Pernicious Than Previously Thought, And A Present Danger That Demands Bold, Intelligent Decisions.

Companies Must Take Critical First Step in Improving Risk Management and Averting Potential Economic Calamity

Jupiter has consistently recommended that the federal government consider requiring the incorporation of future conditions into the design and construction of any physical asset it owns, funds, subsidizes, or regulates.

Risk-averse planners and investors should consider the scenario that the AMOC weakening is a product of climate change.

As climate perils threaten society’s economic arteries and critical infrastructure, power companies, insurers, and financial institutions around the world work with Jupiter to understand their changing thresholds and address the impacts of climate change.