Accenture teams with Cervest to expand climate risk views


Accenture has entered into a collaboration with climate intelligence firm Cervest to expand the former’s capabilities to deliver better climate risk views.

According to Accenture, the partnership will expand Accenture’s capabilities to deliver on-demand access to historical, current and predictive views of combined climate risks to assess and address asset and portfolio vulnerabilities for clients across industries.

Accenture will combine its capabilities in ESG intelligence with Cervest’s Earth Science AI, data modeling and machine learning capabilities available through its CI platform and EarthScan product.

This collaboration, Accenture remarks, will help clients assess and mitigate physical asset risk based on different climate scenarios enabling them to better plan for resilience and inform net zero strategy, while also making climate-related disclosures more transparent.

Cervest’s CI platform provides science-based climate risk insights, including exposure metrics and globally comparable risk ratings for assets and asset portfolios. Known as Cervest Ratings, these can determine combined risk or hazard-specific risk that climate change effects including droughts, flooding, wildfires or extreme temperatures can have on any asset.

Assets can be selected from Cervest’s pre-mapped catalog of over 600 million assets or uploaded manually. The platform’s collaboration tools enable easy sharing of portfolios and insights across teams and organizations, and seamless integration into reports and presentations.

Accenture managing director sustainability services Vrushali Guad said, “As climate-related physical and transition risks become more prevalent, companies need to embed climate considerations into risk mitigation and put effective climate strategy and adaptation at the core of long-term business resilience.

“By combining our newly launched Climate.MAP Accelerator with Cervest’s pioneering climate data modelling and machine learning technology, Accenture continues to expand its capabilities to help clients across industries make informed sustainability decisions by analysing climate risk-related data to address the impacts of climate change.”

Mauricio Bermudez Neubauer – global lead for carbon strategy and intelligence – added, “Having a single source of truth for climate risk-related insights, backed by the latest climate science data, will expand the network of solutions available to enterprises looking to embed sustainability at the core of strategy & operations.

“Those businesses that adopt measurement and management strategies that integrate carbon data and ESG insights into core business decision-making will be better positioned to reinvent and build business resilience, while mitigating risks and capitalizing on opportunities of the advancing transition to net zero.”

State Street has launched a carbon asset servicing solution that enables key stakeholders integrate carbon-related assets into their portfolios.

According to the firm, it seeks to help clients simplify the management of carbon assets. Additionally, clients accessing the solution will be able to incorporate carbon assets into both existing ESG and non-ESG portfolios, leveraging the company’s back and middle-office capabilities.

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