Climate X projects location-specific risks and the associated losses from extreme weather events linked to climate change decades into the future – with just an address. Their ground-breaking product “Climate X Spectra” launched at SLUSH in Helsinki, Finland today and will be available for customers to access from January 2022.
Lukky Ahmed, CEO and Co-Founder, Climate X, said, “The world is changing faster than we’re adapting to it. Climate X delivers explainable, trustworthy and actionable data that helps governments, businesses and societies worldwide prepare for that future and become more resilient to the impacts of climate change – enabling a better future for everyone on this planet.”
The platform boasts a ‘glass box’ methodology prioritising real science above black boxes that come from an over-reliance on Artificial Intelligence or Machine Learning. Instead, working alongside academia and world-leading scientific advisors, Climate X Spectra provides risk data & ratings that are understandable, meet regulatory expectations and delivers precision metrics right down to the asset-level.
To achieve such high levels of accuracy, Climate X Spectra rebuilds entire cities and countries using real-world, remote sensing data taken from satellites, combined with the laws of physics and state-of-the-art climate projections, into a ‘digital twin-Earth’ model.
Kamil Kluza, CPO and Co-Founder, Climate X said, “Our team of climate scientists have been critical to making our vision a reality. In May 2021, we set out a purpose, and today we launched a solution that exceeds the expectations of anyone involved, from investors to end-users. Our passion for making a difference, coupled with our agile approach and the immediate need to reduce or even entirely protect governments, businesses and people from the risks posed by climate, is ready.”
This is particularly important as governments and central banks worldwide rush to deploy legislation and regulations requiring firms to assess and integrate climate risks as early as 2022.
About Climate X
Climate X is backed by some of the most reputable climate-risk focused investors, including Pale Blue Dot, Possibilian Ventures, A100X, Blue Wire Capital and NewChic Capital.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005023/en/