Jupiter in the news
Idalia’s Damage Tied to How Fast It Intensifies
“Forecasts for rapid intensification used to be rare, but as scientific knowledge and forecast skill continue to incrementally improve, we can expect to see more such forecasts,” said Rich Sorkin, chief executive of Jupiter Intelligence, which tracks climate risk.
Climate risk guarantees home insurance policies will keep getting more expensive
“In some cases, homeowners won’t be able to get coverage, or they will have to pay more, or they will have less reliable coverage,” said Rich Sorkin, chief executive of Jupiter Intelligence, a climate risk analytics company.
Bloomberg MapLab: Tracking Marine Heatwaves
Here’s how scientists measure the extreme temperatures currently scorching 44% of the world’s oceans. “You can kind of think of El Niño and La Niña as a toggle war in the tropical Pacific,” said Hillary Scannell, an oceanographer and data scientist at Jupiter Intelligence. With La Niña, “cold water gets upwelled along the South American coast and that cold ocean temperature kind of acts as air conditioning to the climate system.” Now that that’s over, El Niño is taking over with its warm waters, disrupting atmospheric circulation and weather worldwide.
What Fannie Mae is doing about climate risk's impact on mortgages
Climate risk can be tough to quantify, but doing so has grown in importance due to regulatory attention and increased difficulty obtaining property insurance coverage for it. In response, Fannie Mae Chief Climate Officer Tim Judge is using his background in analytics and modeling to try to predict and address its impact on the government-sponsored enterprise's sizable mortgage portfolio.
Verdict in Oregon wildfires case highlights risks utilities face amid climate change
A jury verdict that found an Oregon power company liable for devastating wildfires — and potentially billions of dollars in damages — is highlighting the legal and financial risks utilities take if they fail to take proper precautions in a hotter, drier climate. Josh Hacker, chief science officer at Jupiter, said of lawsuit damages. “This is an enormous challenge. Now it’s biting them. And in the end it’s going to bite all of us, because they have to recover that expense.”
Top Climate Change Execs to Watch in 2023
Jeff Ward, Jupiter's Global Public Sector Climate Account Executive, has been named one of WashingtonExec’s Top Climate Change Execs to Watch in 2023. The list highlights industry executives who are dedicated to creating solutions, building sustainable infrastructures, making geospatial data more accessible, and applying their environmental science expertise to help the White House on climate change initiatives.
Past no longer guide to the future on weather-related construction risks
A panel at Commercial Risk’s Construction Risk Management Europe conference highlighted how climate change is impacting construction risk management, noting how historical data is a poor indicator of future trends. Stuart Large, business development director at Jupiter, said that historical data might show a trend for higher weather-related losses over the last 20 or 30 years. But he added that given the pace of losses from most perils is accelerating, models are a much better indicator for future trends.
Fannie Mae climate-risk analytics provider revealed
Fannie Mae revealed it has been working with a set of climate risk analytics from Jupiter Intelligence to assess its portfolio of over 17 million single- and multifamily assets to quantify the extent to which its holdings are exposed to potential damage from natural disasters.
40 AI Startups To Watch Out For in 2023
Jupiter was named one of the top 40 AI startups to watch in 2023.
Investors Rain Funding Down On Climate Prediction Startups
Jupiter Intelligence, a climate analytics platform, works with companies in the real estate industry to help them to plan for weather-related issues to homes or housing insurance plans. It can also provide those in the banking sector with insights on how climate change may impact portfolio assets.
Emissions disclosure rules loom for government contractors and they're not happy
As emission disclosure rules loom, government contractors aren't excited about what's ahead.
Biden’s push to disclose climate risks hits wall of industry resistance
Biden’s push to disclose climate risks hits wall of industry resistance. Big business is bucking President Biden’s efforts to use SEC rules and the purchasing power of the U.S. government to reveal and reduce climate emissions.
New study identifies climate-related mortgage slump
Research shows major lenders are not adapting to reflect the growing risk of a climate-related mortgage slump. The analysis from Bain & Company and Jupiter Intelligence involved 50 of the largest banks from across the world which adhere to the Financial Stability Board’s TCFD.
How climate change could hit your mortgage
Banks are preparing to model the impact of climate change on their mortgage books at the level of individual blocks rather than postcodes. Bain and Jupiter are working together to model the risk of climate perils for financial institutions at a level of every 90 square meters.
Mortgage giant Fannie Mae tackles climate risk, but changes to underwriting may take several years
CNBC coverage of how Jupiter is working with Fannie Mae to figure out just how to factor climate risk into home values and mortgage underwriting and its implications for the nation’s nearly $12 trillion mortgage market.
Here Are 3 Big Areas Where AI Is Cropping Up In Agtech
“AI-based systems can give much more predictive insight to what the likely risk ranges are for farmers,” said Jason Pontin, a partner at DCVC and investor in Jupiter. “You can buy better financial products, like insurance products, since you’re literally betting the entire farm.”
Helping Society Mitigate Effects of Climate Change
CHANCE asked Katherine Bennett Ensor, president of the American Statistical Association, to interview Rich Sorkin, CEO and co-founder of Jupiter Intelligence, for his insights about mitigating physical climate risks around the globe.
How Jupiter embraces ESG to accelerate growth
Jupiter CEO, Rich Sorkin, speaks with MPower Partners about the critical role ESG plays in business growth and performance including crucial culture benefits —both internally within the company and externally to customers, shareholders, and community, as well as government, business leaders and public policy makers.
Never Seen Anything Like This': CRE Assesses Impact Of Hurricane Ian
Bisnow spoke with Jupiter CEO Rich Sorkin about the impact on Florida’s commercial real estate and insurance from Hurricane Ian and climate change. “Codes will only go so far in aiding newer buildings as the intensity of storms continues to increase with climate change.”
A retirement safe from climate change? Ask the tough questions about real estate and property insurance
Jupiter CEO Rich Sorkin speaks to MarketWatch about the critical need for climate analytics in the insurance industry and the concept of “duration mismatch.”
Millions Worldwide Suffer ‘Climate Whiplash’ As Extreme Drought Gives Way To Floods
The HuffPost reports on the multiple concurrent and sequential weather and climate events around the world referencing Rich Sorkin, Jupiter CEO as an industry expert. “There’s a cautious scientific perspective where you can look at the data and it’s clearly getting warmer and we’re seeing increased extreme events and economic costs, but you can’t tie any one event back to climate change in a scientifically rigorous way…. There is also an awful lot of support for global warming being the driving event for the increased intensity and frequency of severe events and perspective from those who say the world is burning down and yesterday was too late to do anything about it.”
Aon and Jupiter partner to boost climate risk analysis for financial institutions
Commercial Risk covers Jupiter’s new partnership with Aon and explores how Jupiter will assist Aon’s clients in quantifying climate risks.
More CRE Firms Are Putting a Price on Their Climate Exposure
“If you hold a mortgage, or a commercial loan for real estate, even if you assume that it’s going to get refinanced, you have to evaluate what the economic environment is going to be at the time it’s refinanced,” Sorkin added. “Now people don’t price [climate risk] in, but they will in 10 years.” —Jupiter CEO Rich Sorkin speaks with Commercial Observer about the expanding requirements and demand for “climate intelligence” to inform investment decisions.
Jupiter Intel inks climate risk deal with Boston Consulting Group
Axios covers Jupiter’s new collaboration with Boston Consulting Group and speaks with Jupiter CEO Rich Sorkin about the company’s partnership strategy.
Why Natural Catastrophe Models are Still Missing Climate Change
Meghan Purdy, Jupiter’s Lead Climate Product Manager, joined a panel of experts to discuss fundamentally changing the approach to natural catastrophe modeling.
The Climate Risk Analytics Software Scene is Expanding
Jupiter CEO Rich Sorkin speaks to GreenBiz about how Jupiter is expanding to meet the growing interest and requirements in climate analytics and insights. Increasing number of global companies use Jupiter’s flagship ClimateScore to assess the physical impact of what Sorkin calls “climate pollution.”
Exclusive: Jupiter Intelligence raises $54 million
“Jupiter is one of the leading corporate players working to help reduce the climate risks to the public and private sectors,” says Axios in their continuing coverage of Jupiter’s Series C investment round, while Jupiter CEO Rich Sorkin reveals that the company is developing new services and plans to add 50 people to its workforce.
A Flood of Risk
$15 billion in damages; record insurer losses; a 10-year high in payouts, all in the first half of 2021 and even before Hurricane Ida has been factored in. In the face of a rapidly changing climate, Jupiter helped FEMA develop Risk Rating 2.0 using climate risk modeling. “I think most people inside FEMA would like to be moving much faster than they have the resources or permission to do,” Jupiter CEO Rich Sorkin told The American Prospect.
Climate risk firm Jupiter picks up major investor to jump-start an Asian expansion
Axios’ Andrew Freeman has coverage of MPower’s investment and Jupiter’s expansion in the Japanese market.
Adapt Or Die: Preparing For The Next Phase of Climate Crisis
“When you’re down to adapt or die, most people will eventually adapt,” says Jupiter CEO Rich Sorkin in a wide-ranging interview about the future of climate resilience with Forbes. Are you and your firm prepared?
The climate crisis is here. Are insurance companies keeping up?
“What I think is going to wind up happening is that the banks are going to be so far ahead of the insurance companies.” Marketplace talks to Jupiter CEO Rich Sorkin about the company’s efforts to push insurers to adapt to the realities of climate change using geospatial data.
Business booms at climate risk start‑up as threat from extreme weather grows
The growing threat from extreme weather has businesses taking a greater interest in climate risk. In an exclusive report, The Washington Post explores Jupiter’s success working on resilience planning for organizations and how that has led to a 10‑fold increase in contracts at the start of 2021. The Post’s piece showcases Jupiter’s growing list of influential clients in the private and public sectors and looks at how Jupiter helps climate experts, businesses, and governments prepare for climate change.
Betting on Florida real estate could be a big mistake
Rising sea levels threaten Florida property values over the next few decades, and “almost none of this risk is reflected in prices,” says Jupiter CEO, Rich Sorkin. Business Insider investigates the looming crisis, turning to Jupiter’s special report on the situation in Miami-Dade for insight.
Biden taps ocean scientist Rick Spinrad to run NOAA
Jupiter would like to congratulate Rick Spinard on his new role as head of NOAA. “His exemplary record previously leading NOAA Research and the National Ocean Service will prove important in NOAA’s forward progress and leadership in both oceanographic and atmospheric endeavors as well as any responsibility NOAA may have for a National Climate Service, which Jupiter also strongly supports,” CEO Rich Sorkin told the Washington Post.
Lloyd’s Lab announces its sixth cohort with a focus on product simplification and climate
Jupiter is excited to have been selected to join Cohort 6 of the exclusive Lloyd’s Lab accelerator. Our selection as one of eleven companies out of almost 200 applicants makes a strong statement about the important role of climate analytics in the insurance sector more broadly, and specifically at Lloyd’s—the insurance capital of the world.
Extreme Winter Weather Causes Texas Risk Crises
“Out-of-date assumptions need to be updated. Severe events are happening more frequently and with greater impact already, and continuing to get worse at an accelerating rate.” Jupiter CEO Rich Sorkin speaks with Risk Management Magazine about the lessons learned from the 2021 Texas blackouts.
Texas Freeze Triggers Global Plastics Shortage
The February 2021 Texas power outages brought the world’s largest petrochemical complex to a standstill, forcing more plants in the Gulf of Mexico region to shut down than during Hurricane Harvey. Jupiter has been monitoring the risks to Texas’s industries for some time. Now, The Wall Street Journal speaks with CEO Rich Sorkin for Jupiter’s insight into the existing and evolving challenges the Gulf region faces.
Insurance companies face a climate reckoning
Climate & Capital Media highlights Jupiter’s report on flood risks in Miami-Dade County and the benefits of the “high-definition” climate risk modeling that Jupiter provides.
Arrogance and Nature’s Deadly Hand
Four years ago, almost no large companies were thinking about the impact of climate change on their businesses. Finally, many are. Jupiter CEO Rich Sorkin shares his thoughts on climate planning and recovery in the wake of the 2021 Texas blackouts.
Deadly Texas blackout shows our vulnerability to coming climate extremes
“Without that planning and investment, a hellscape will be upon us,” says Rich Sorkin, as the Washington Post turns to Jupiter for insights into power grid climate resilience after the devastating winter blackouts in Texas.
How climate change could spark the next home mortgage disaster
Jupiter Intelligence CEO Rich Sorkin said banks are using his firm’s services to “understand the safety of a mortgage asset over the mortgage’s expected life cycle.” Sorkin added that his company has seen “a huge uptick in interest” from insurance, asset management and real estate companies.
The Great Disrupter
“As Rich Sorkin, head of Jupiter Intelligence, a consultancy, argues: ‘In ten years there won’t be a large entity anywhere on the planet that does not have a handle on its climate risk. Consumers, shareholders and employees won’t stand for it.’”
The World Is Too Slow in Dealing With Climate Risks—Expert
“Currently, the world overall is repeating the mistakes of the COVID pandemic and the Global Financial Crisis – it is too slow to recognize and respond to enormous and imminent impacts on citizens and corporations,” says Rich Sorkin, CEO of Jupiter.
Two North America insurtechs named to Zurich Innovation Championship global finals
Zurich North America Insurance has selected Jupiter as one of two finalists to represent North America in the Zurich Innovation Championship. The global competition is designed to create collaborations between Zurich and insurtechs and bring new ideas and energy to the forefront.
Japan's MS&AD to predict climate-change impact on companies
Jupiter will use its technology to help the insurance group predict the financial effect of natural disasters such as floods.
Report: Gulf energy facilities face "imminent" climate risk
A new report warns three Houston-area petrochemical facilities are “highly vulnerable” to costly impacts from climate change. Jupiter estimated the plants would see three to eight times more damage from “extreme” flood events within the next 10 years.
Gulf chemical plants unprepared for increasing flood risk from climate change: report
In the report, Jupiter notes that the “very functionality” of the properties could be threatened in the coming decades if designs are not upgraded to prepare for climate change and could result in millions of dollars in equipment damages.
My Climate Journey Episode 90: Jupiter CEO, Rich Sorkin
Jupiter CEO Rich Sorkin discusses climate change, adaptation & resiliency, and more with Jason Jacobs on this episode of the My Climate Journey podcast.
Climate change puts Houston’s electricity network at risk
“What’s as alarming is the real possibility, if not probability, that utility operators who rely on FEMA data are either ignoring or badly underestimating the scope of the actual flood risk they face,” Jupiter CEO Rich Sorkin said.
The New Due Diligence: Understanding the Climate-Related Vulnerabilities of Our Infrastructure
Jupiter CEO Rich Sorkin writes in POWER Magazine about how climate effects are expected to have outsized impacts on the infrastructure and operations of major public utilities in the coming decades.
Two New Reports Explain Just How Susceptible Florida Real Estate Will Be to Climate Change
As Jupiter CEO Rich Sorkin sees it, the reality of what the real estate market is in for if climate change continues unabated has yet to sink in.
Q&A: "Things will blow up" if you ignore climate risks
Jupiter CEO Rich Sorkin sat down with E&E News in Houston last week to discuss the intersection of energy, politics and climate change. Sorkin said the majority of companies Jupiter speaks with don’t question whether climate change is happening, but some still aren’t ready to act.
Reports: Flooding risks could devalue Florida real estate
Jupiter’s projections for Miami-Dade County feature prominently in the Associated Press’s report. Several major news outlets picked up the news wire, including the New York Times, Washington Post, U.S. News & World Report, ABC News, Beaumont Enterprise, San Francisco Chronicle, Houston Chronicle, and Sacramento Bee.
As seas rise, your coastal home in Florida could lose value. One report says 15% by 2030
In a Miami-Dade-focused report from Jupiter Intelligence, researchers found that moderate flooding of about a foot will affect nearly double the number of homes by 2050.
Over the Rainbow
Jupiter is the start-up to keep an eye on, especially if you believe in Arthur C. Clarke’s maxim that “any sufficiently advanced technology is indistinguishable from magic.”
Jupiter Intelligence Shows Companies How Climate Change Will Impact Them
Jupiter Intelligence uses human and artificial intelligence to help companies look into the future and see the potential impact of climate change on their businesses. “The world needs that kind of information,” says CEO Rich Sorkin. “The world is not moving fast enough to reduce climate change. The impact of climate change is getting worse every year.”
Climate Change Could Cause a New Mortgage Default Crisis
Jupiter, a climate advisory group, recently showed me the type of modeling it is performing for banks and insurance companies in the US. Using a synthetic portfolio of 100,000 residential mortgages in southern Florida — based on the exposure of a real bank — Jupiter forecasts a tripling of losses from flood damage in the next couple of decades.
Climate Corner Office: Rich Sorkin, Jupiter Intel CEO, Believes Climate Predictions Will Be Big Business
The Weather Channel talks to our CEO about how merging climate models, high definition mapping, and cloud computing can help businesses add climate change predictions to their investment decisions.
How does one commercialize Earth observation?
One company that specializes in Earth observation is Jupiter Intelligence. It provides services to help customers understand how they will be affected by changes in the Earth system such as climate change. We spoke to Rich Sorkin, Jupiter’s CEO, to learn more about the firm.
The race is on to predict climate risk, and these tech startups are in the lead
CNBC spotlights Jupiter in an interview with CEO Rich Sorkin for its Rising Risk series on climate change. “If you were a major corporation 10 years ago and somebody said ‘cyber risk,’ chances were a lot of people would say, ‘What’s that?’ Now every large entity on the planet, business, financial services, governments, they are managing to cyber risks. It’s just a fundamental part of their business,” Sorkin said. “And the same thing will be true with risk from severe weather, accounting for the climate change that’s already occurred and is inevitably coming over the next several years as well.”
The Real Cloud Wars: The $6 Billion Battle Over The Future Of Weather Forecasting
Two-year-old Jupiter Intelligence…combines weather data with information about an area’s environment and terrain to create “climate risk assessments.” Any company with a warehouse in a low-lying area wants to know how many square feet it might lose to sea-level rise and when that loss might happen. The company’s insurer wants to know that too.
Companies Can Predict Climate Catastrophes for You—as a Service
If you run a business, or maintain a city, or plan power plants or highways or bridges, you’d like to know how bad things are, and how bad they’re going to get. That’s what Jupiter and other “climate services” companies sell. Jupiter explicitly incorporates climate change into its models for catastrophe risk, both proprietary and public, and then offers that knowledge to the kind of people who might lose money when the floods, fires, storms, and heat waves really kick in.
Tech Offers a Virtual Window into Future Climate Change Risk
AI and supercomputing are rapidly shifting the way disaster planners, regulators and insurers gauge climate hazards. “I would say the last two years have represented dramatic change that vastly exceeded even our expectations about how things would evolve,” said Rich Sorkin, chief executive officer of Jupiter Intelligence, a Silicon Valley-based firm staffed by senior scientists and engineers from the U.N. Intergovernmental Panel on Climate Change, NOAA, the National Science Foundation and the National Center for Atmospheric Research.
Climate Changed: Wall Street Embraces Weather Risk in New Era of Storms
Rich Sorkin, chief executive officer for the analytics firm Jupiter Intelligence saw the writing on the wall 10 years ago. That’s when he founded a company he named Zeus to do 30-day forecasts for the power sector and commodity traders, using the then-nascent trend in enterprise computing. “For a variety of reasons we were a bit too early,” Sorkin said. But the effort served as a “warm-up” for what’s now Jupiter, born in 2017. Since then, Sorkin has assembled a roster of climate science all-stars including Josh Hacker from the National Center for Atmospheric Research, Elizabeth Weatherhead, a specialist in arctic climate, and Alan Blumberg, a researcher in how coastal cities and their oceans get along. The goal: Provide clients with local weather projections on time scales ranging from hours to decades.
Nephila invests in climate risk data analytics specialist Jupiter
Jupiter recently raised a $23 million Series B funding round in which Nephila Capital participated, alongside other insurance and reinsurance industry stalwarts including Mitsui MS&AD, QBE, as well as private equity specialists and venture funds. “These investments from leaders in the energy, infrastructure, insurance, financial services and consulting industries underscore the urgent need to regularly quantify and assess climate-related physical risk using forward-looking analytics,” explained Rich Sorkin, CEO and Co-Founder of Jupiter. “Influential investors from the U.S, EU, Asia and Australia highlight the global nature of Jupiter’s business and the rapidly growing demand for Jupiter’s broad portfolio of high-resolution, AI-enabled climate risk applications. Jupiter’s elastic exascale computing provides unlimited capacity, enabling hyper-local risk analyses for the entire planet.”
9 big things: The climate change startups are coming
This week brought one early example, in the form of Jupiter Intelligence, which raised a $23 million funding led by Energize Ventures. Headed by an impressive team that includes a Nobel Prize recipient and two members of the C-suite with ties to Google, Jupiter is a provider of AI-powered weather prediction data designed to help its customers—such as insurance companies and governments—know when and where climate disasters might strike. Hurricanes and massive floods can cause billions of dollars in damage, and Jupiter offers a chance to mitigate some of that risk.
Jupiter raises $23 million for climate risk analytics
Data analytics company Jupiter Intelligence works with public sector agencies and private companies in real estate, insurance, energy and infrastructure to help them assess and plan for climate-related risks. The company has secured $23 million in Series B funding backed by energy-focused investment firm Energize Ventures, impact investor SYSTEMIQ, and insurance firms QBE, Mitsui MS&AD and Nephila.
Jupiter Intelligence, a startup that sells climate change impact data to governments and private industry, raised $23 million in Series B funding led by Energize Ventures. Why it’s the BFD: Because our failure to effectively mitigate climate change means that we now must deal with its consequences. “Jupiter has aggressively hired top talent from government climate labs, both for its executive ranks and at the staff level, and is especially well-positioned to tackle systemic risk for the insurance sector. It’s no accident that insurance companies, especially the major reinsurers, have been advocating for climate action long before many politicians did; they’re afraid of sinking under a rising tide of natural disaster costs.”
Jupiter raises $23 million to tell businesses and governments how climate change will destroy them
As natural disasters increase in frequency and severity, cities and the businesses that reside in them are mobilizing to understand how best to prepare for the climatological challenges they’re going to face — and increasingly they’re turning to companies like Jupiter Intelligence for information.
A startup brings climate-change modeling down to the street level
Rich Sorkin is the founder and CEO of Jupiter Intelligence, a startup delivering hyperlocal climate predictions using cloud computing.
Grave Climate Realities Do Little To Dissuade Builders Chasing Profits, Population On The Coasts
Jupiter is a company staffed in part by climatologists and other scientists and provides climate change risk assessments for projects and government agencies.
Climate impacts grow, and U.S. must act, says new report
“It joins the mounting evidence about the scope and magnitude of climate-change impacts,” says Jupiter Intelligence director Julie Pullen, an ocean scientist at Jupiter Intelligence who reviewed an earlier version of the report. And because the report drills down into the local-scale impacts, Pullen adds, it gives Americans a realistic view of exactly how climate change influences their day-to-day experiences.
"It’s likely to happen again in our lifetime." Are Horry County’s flood maps out of date?
Richard Sorkin, co-founder of Jupiter Intel, said politics and other factors can keep government-provided maps from being the most comprehensive flood maps available. Jupiter works to create flood maps using the latest in cloud-computing technology to account for all factors that lead to flooding. The company has a team of experts, including a Nobel Prize winner, that works with governments and companies to provide the most up-to-date information on property risks.
Message from Jupiter CEO, Rich Sorkin: How Jupiter’s advanced science and technology is helping New York City prepare for the risks of a changing climate
Today we are pleased to announce our partnership with Brooklyn College and an extended team of academic and private institutions to study urban flooding in New York City and measures to improve resilience. Jupiter is leading the scientific modeling, essential to comprehending current and future rain and flood scenarios. The team has already completed its first milestone, a proof of concept, and is actively using Jupiter’s scientific models on our ClimateScore™ cloud computing platform.
The Internet Is Drowning: Rising seas imperil the delicate web of IRL cables and power stations that control the internet.
“We live in a world designed for an environment that no longer exists,” says Rich Sorkin, the co-founder of Jupiter Intelligence, a company that models climate-induced risk. Accepting the reality of what future will look like, he says, is key to planning for it—and studies like this, he says, highlight just how quickly we’ll all have to adapt.
4 Tech Startups that are Fighting for Coastal Climate Resilience — and Winning
Jupiter Intel’s models, satellite data and sensors help community planners, developers and city officials anticipate challenges such as sea level rise, erosion and impermeable pavement. The company, which has raised $10 million in venture capital funding so far, can predict flood risks down to specific properties, for the near future and years out.
Diving into the Future
It is what could be defined as the “resilience issue”, the understanding and predicting of the risks related to climate change and their impacts on the horizon of the public and private sector. Jupiter is a startup, which offers services, predictions, and analyses to city officials, insurance companies, businesses, and any other actor in the public arena who deals with urban planning in coastal areas.
Venture Adaptation: Jupiter Intel and the Emerging Business of Climate Change
Doug Parsons of America Adapts talks with Rich Sorkin, CEO and Co-Founder of Jupiter Intel, about the company’s history and Rich’s short- and long-term goals in this emerging field. Doug and Rich discuss developing businesses in the adaptation sector and how businesses can use smart climate planning to avoid a repeat of the 2008 financial meltdown.
A New Era In Modeling Catastrophic Risk
Jupiter Intelligence provides climate change and weather event risk-prediction services. The company’s solution is built on a cloud-based platform designed specifically for the rigors of climate analysis. The Jupiter ClimateScore Intelligence Platform links data, probabilistic and scenario-based models and advanced validation in an integrated environment.
Startups in the spotlight: Jupiter, Zesty and Discord
A San Mateo startup, Jupiter, is hoping to reduce future devastation caused by floods and severe weather by helping developers and cities predict where the problem areas could be. “The world has been very slow to respond to the science and the events of the last few years that make it crystal clear that in certain parts of the world, risks are getting worse,” said CEO Rick Sorkin.
As Climate Costs Grow, Some See a Moneymaking Opportunity
Predicting how climate change will alter the weather is becoming a flourishing business. The consumers are property owners and businesses that fear a rise in extreme weather — hurricanes, floods or heat waves, for example. Last year set a record for U.S. losses at over $300 billion. Rich Sorkin is seeking them out. Sorkin is CEO of a new company called Jupiter. “Our approach is, look, we’re in the risk business,” he says. What Jupiter sells is risk assessment. How you can dodge the climate bullet? Sorkin’s pitch is blunt: “Hugely important, globally significant, gigantic economic problem, not currently being addressed.”
How a small start-up firm wants to revitalize climate change research
Where the Trump administration sees waste, the small but rapidly expanding Silicon Valley climate services firm Jupiter Intel sees opportunity.
Is your land at risk for sea rise? More firms want to sell South Florida the answer.
New Silicon Valley startup Jupiter — boosted by $10 million in venture capital funds — will soon arrive on the South Florida scene to test its climate change calculating software.
New Silicon Valley Startup Warns Businesses How Climate Change Will Affect Them 50 Years On
Jupiter uses predictive cloud computing models to inform business owners how climate change will affect their operations in the future.
A Startup Could Reveal How Climate Change Will Affect Your Business in 50 Years
Jupiter, a startup based in Silicon Valley, is working on combining data and predictive modeling using cloud-based supercomputers to show businesses the potential impacts of climate change.
What Land Will Be Underwater in 20 Years? Figuring It Out Could Be Lucrative.
As companies around the world grow concerned about the risks of climate change, they have started looking for clarity on how warming might disrupt their operations in the future. But governments in the United States and Europe have been slow to translate academic research on global warming into practical, timely advice for businesses or local city planners. Now some private companies, like Jupiter, are trying to fill the gap.
This Startup Calculates The Climate Risks For Specific Blocks And Buildings.
As floods, heat waves, and other damaging natural phenomena increase, it’s important for developers and city planners to understand the effects. Jupiter offers incredibly detailed maps of a post-climate change world.
Climate change could put businesses underwater. Start-up firm Jupiter aims to come to the rescue.
This week, a high-powered, well-funded start-up company has barged onto the scene to help businesses and governments confront their increasing vulnerability to climate change and weather disasters.
[Press Release] Jupiter Launches New SaaS Application and Significant Enhancements to ClimateScore Global
Jupiter, the trusted leader in climate risk analytics, today announced significant enhancements to ClimateScore™ Global, the company’s climate risk analytics offering that provides decision-ready insights to understand exposure, predict operational and financial risks and build resilience to the impacts of climate change.
[Press Release] Jupiter Partners with Axionable in France to Provide Customers with Leading Climate Data and Analytics
Jupiter, the trusted leader in climate risk analytics, today announced a collaboration with Axionable, an award-winning sustainability and technology consulting group in France. The partnership provides joint customers in France and across Europe with best-in-class climate data and analytics from Jupiter and consulting services from Axionable, to assess the risks that climate change will have on their businesses and meet mounting regulatory disclosure requirements.
[Press Release] Fannie Mae Assesses Residential Portfolio Risk Using Jupiter ClimateScore™ Global
Jupiter, the trusted leader in climate risk analytics, today announced that Fannie Mae is using the company’s industry-leading product, ClimateScore™ Global, to assess the potential impacts of climate change on their mortgage portfolio backed by over 17 million U.S. single-family and multifamily residential assets.
FORVIS collaborates with Jupiter Intelligence on climate risk modeling platform
FORVIS collaborates with Jupiter Intelligence on climate risk modeling platform
Jupiter and Fannie Mae Announce Climate Risk Analytics Project
Jupiter announced a project with Fannie Mae to identify neighborhoods and communities most at risk from perils related to climate change as part of The Jupiter Promise program for historically marginalized communities.
Aon and Jupiter Collaborate to Address Climate Volatility for Global Financial Institutions
Aon has announced a collaboration with Jupiter that will assist global financial institutions in navigating the increasing volatility resulting from climate change.
Partnership to advance ecosystem models, water level predictions
NOAA and climate analytics company, Jupiter Intelligence, signed a formal agreement to advance understanding of coastal ecosystems, precipitation and water level predictions. The goal of the partnership is to support community response to coastal risks to mitigate effects of climate change.
Jupiter Announces Climate Risk Analytics Collaboration with Boston Consulting Group
Jupiter today announced a new collaboration with Boston Consulting Group (BCG), a global consulting firm and leader in the climate space, that will incorporate Jupiter’s best-in-class climate analytics into BCG’s existing ClimateImpact.AI platform.
Jupiter y The Nature Conservancy anuncian su colaboración abordando los desafíos del cambio climático para los ecosistemas y las personas
Jupiter and The Nature Conservancy Announce Collaboration Addressing The Challenges To One Of The World’s Most Diverse Ecosystems
Jupiter Promise will provide best-in-class climate risk analytics to protect sensitive natural areas and estimate future heat and water stresses associated with climate change in Colombia.
Bain & Company Joins Forces With Jupiter to Bring Climate Risk Analytics and Adaptation Strategies to Its Clients
With an initial focus on Bain’s global Financial Services practice, this partnership will help Bain’s clients in banking and insurance to build a rich understanding of their exposure to physical risks, much beyond regulatory requirements.
Jupiter Adds New Metrics for Extreme Cold and Local Water Stress to ClimateScore Global Analytics Platform
Jupiter Adds New Metrics For Extreme Cold And Local Water Stress To ClimateScore Global Analytics Platform.
Renowned Climate Scientist and Nobel Laureate Betsy Weatherhead Returns to Jupiter
Jupiter, the global leader in climate analytics for resilience and risk management, announced today that Betsy Weatherhead has rejoined the company as Special Representative to the Scientific Community.
Jupiter Teams with the Arsht-Rock Center’s Extreme Heat Resilience Initiative To Support Underserved Countries and Communities
Jupiter announced the launch of the Jupiter Promise—a program to make Jupiter’s services available at little to no cost to underserved countries and communities suffering most from the effects of climate change. In this far-reaching initiative, Jupiter plans to reach more than 20% of the world’s population, partnering with at least 20 additional NGOs by the end of 2023.
Jupiter Announces $54 Million in New Funding
The Series C Financing is co-led by Clearvision Ventures and MPower Partners. Jupiter now provides analytics to 30 companies in the Global 2000, U.S. Department of Defense and FEMA to understand the impact of climate change on their physical infrastructure and supply chains, risks to financial portfolios, and vulnerabilities to human health and safety, and to protect over ten billion dollars of physical assets and more than a trillion dollars of financial assets.
Jupiter to Partner with San Jose State University to Accelerate Wildfire Research
Jupiter will join insurance and utility industry leaders along with the Lawrence Livermore National Laboratory and others in a program at San Jose State University’s Wildfire Interdisciplinary Research Center (WIRC).
Jupiter Announces Strategic Investment from ESG-Focused MPower Partners
Jupiter announced a major expansion of its work in Japan—adding an industry leading Japan-based venture investor MPower Partners. MPower is Japan’s first ESG-focused global venture capital firm and the first female-led VC firm in Japan.
Acclaimed Researcher in Extreme Weather and Climate Dr. Adam Sobel Joins Jupiter Board of Advisors
The Columbia Professor of Earth and Environmental Sciences, Applied Physics, and Applied Mathematics, author, and podcast host further strengthens Jupiter’s unmatched scientific expertise. “We are excited that Adam will bring his knowledge and enthusiasm to continue our efforts at providing the economy with the best science possible,” said Josh Hacker, Jupiter’s Chief Scientist and Co-founder.
Pioneering Construction and Engineering Lawyer Josh Leavitt Joins Jupiter Board of Advisors
Leavitt is a legal pioneer on emerging standards of care in the construction and engineering design resiliency of structures that are threatened by extreme weather from climate change as well as the legal ramifications of failing to adapt to climate change.
Sumitomo Mitsui Banking Corporation (SMBC) enhances its climate change scenario analysis on physical risks with Jupiter technology
In collaboration with MS&AD InterRisk Research & Consulting, the goal of the enhancement is to resolve the lack of scientific data and completeness in terms of subject regions, and other issues regarding climate change scenario analysis.
Guidehouse and Jupiter Intelligence Announce Strategic Alliance to Help Utilities Quantify Climate Risk and Build Resilience
The alliance combines Guidehouse’s utility industry expertise with Jupiter’s global-scale analytics platform to provide clients with a comprehensive and transparent climate change risk assessment as a key part of an advanced integrated planning strategy.
Jupiter Accelerates U.S. Federal Government Initiatives
As the Biden-Harris administration renews its commitment to addressing climate change, Jupiter also announced its support for greater federal coordination of climate information services, emphasizing the need for better governance and the formation of a new Federal Climate Service (FCS). Jupiter’s public sector work has accelerated under the new administration, with risk planning and resilience projects underway or complete with the U.S. Department of Defense, U.S. Department of Housing and Urban Development, and multiple other entities within the Executive Branch as well as grant funded work with the National Science Foundation and NASA.
Jupiter Celebrates a Year of Company Milestones and Anticipates Significant Market Demand and New Engagements Under Biden Administration
Despite the impact of the global pandemic, Jupiter added several new marquee customers in the past year and looks forward to the Biden Administration’s investments and policies in science, greenhouse gas reduction, and resilience.
Jupiter Recognized as 2021 Global Cleantech 100 Company
The 100 companies on the list represent the private, independent, and for-profit companies best positioned to contribute to a more digitized, de-carbonized and resource-efficient future. Jupiter’s climate change risk analytics were selected among winners from 15 countries and various industries.
Jupiter Recognized as One of Three Companies To Win Zurich Insurance Innovation Competition
Zurich’s Global Innovation team chose Jupiter from among more than 1,300 submissions from companies in 43 countries around the world.
Acclaimed Climate-Change Expert Dr. Jesse M. Keenan Joins Jupiter's Board of Advisors
“2020 has proven beyond a doubt that the private sector has much work to do to prepare for future disruptions, and this is especially true regarding the risks that climate change presents to the stability of financial markets,” Keenan said. “I’m excited to join Jupiter on their mission to not only help organizations adapt to the shocks and stresses of climate change, but to also take advantage of the opportunities for sustainable investment.”
Jupiter Announces Launch of ClimateScore Global
ClimateScore Global™ is a next-generation climate risk analytics tool that provides physical risk assessment designed to support decision-making across a wide range of industries—for any point on the land surface of the planet through the year 2100.
Jupiter Raises Additional Capital from Liberty Mutual, MS&AD, and SYSTEMIQ
“With the support of industry leaders including Liberty Mutual and MS&AD, Jupiter will continue to deepen our analytics to help customers make complex financial decisions as they emerge from a global economic crisis,” said Rich Sorkin, CEO and Co-Founder.
Jupiter Receives Grant from the Moore Foundation To Accelerate California Fire Control Efforts
The $1M grant will go towards the deployment of Jupiter’s FireScore™ Operations service, a wildfire threat and intelligence platform, to accelerate readiness for the 2020 wildfire season.
Jupiter Announces Partnership With Hawaiian Electric Companies
Jupiter today announced an agreement with the Hawaiian Electric Companies to provide ongoing climate risk analytics services for generation, transmission and distribution infrastructure across five major islands of Hawaii. Jupiter also recently announced a capital investment from Elemental Excelerator (Elemental), a global infrastructure innovation accelerator. The funding, as part of Elemental’s Demonstration Track, will enable Jupiter to accelerate deployment of its flood and wind risk analytics services in the Pacific, beginning in Hawaii.
Jupiter Series B Funding
Jupiter Community Science Program
Jupiter Launches Climate Data, Analytics and Technology Platform to Predict and Manage Weather and Climate Change Risks
Jupiter Launches Climate Data, Analytics and Technology Platform to Predict and Manage Weather and Climate Change Risks