OS-Climate Releases New Analytic Tools for Public Collaboration
NEW YORK, July 27, 2022 -- Linux Foundation's OS-Climate, the non-profit organization providing open source data and software tools to enable the global shift to climate-aligned finance and investing, has today released for public collaboration three analytic tools critical to tackling the climate crisis.
The three tools, Physical Risk & Resilience, Portfolio Alignment, and Transition Analysis, were developed cooperatively by OS-Climate members, led by BNP Paribas, Allianz and Airbus respectively.
With today's public release, OS-Climate's tool development moves into an exciting new phase. Enabled by cloud services contributed by Amazon and Microsoft, the door opens to the global community of academic institutions, government agencies, modellers, and software developers for further powerful collaboration in building out the tools and Data Commons, a library of data and metadata suitable for use with OS-Climate's toolset.
In addition to Airbus, Allianz, and BNP Paribas, OS-Climate's financial services sector, technology sector, financial data, and 'real economy' corporate members include Amazon, BNY Mellon, EY, Federated Hermes, Goldman Sachs, London Stock Exchange Group, Microsoft, the UN-convened Net-Zero Asset Owner Alliance ($10.6 trillion asset under management), Ortec Finance, Red Hat, and S&P Global.
"These tools will generate the refined data and actionable insights needed for pension funds, asset managers, and banks to rapidly align their investments and loans to net zero and resilience goals," said Truman Semans, CEO of OS-Climate. "They can be used not only by the leading members within the Glasgow Financial Alliance for Net Zero (GFANZ) but the rest of the global financial community."
The Linux Foundation's community-led open source development approach, combined with strong, independent governance processes and methodological governance oversight, provides the transparency, trust, access and inclusion needed by all whose investment decisions impact climate change.
BNP Paribas leads the development of the Physical Risk & Resilience Tool that enables financial and non-financial stakeholders to identify and quantify risk related to climate resilience through asset vulnerability models that use probability and severity forecasting of extreme climate events.
Allianz, with support from Ortec Finance, leads the development of the Climate Portfolio Alignment Tool, which helps financial stakeholders to align portfolios at individual holdings and loan levels with the Paris Accord target temperature increase of 1.5 degrees Celsius.
The Transitional Analysis Tool developed by Airbus will enable corporations to model, test, and conduct scenario analysis for strategic climate-aligned decisions. This is the key to enabling the large-scale transition of real economy corporations toward Net Zero and resilience through climate-aligned investments in R&D, capital projects, other infrastructure and supply chains.
About OS-Climate
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 the OS-Climate website.
Source: OS-Climate
