As per reports, IBM (IBM) and the Climate Service (TCS), a leader in climate risk analytics for investors and businesses announced their collaboration with financial institutions and corporations to improve measure and quantify risks related to climate change. TCS Climanomics® software platform will now be available via Red Hat OpenShift on IBM Cloud.
The companies to help organizations enable calculating climate risk and enable reporting in-line with the Task Force on Climate-Related Financial Disclosures framework. The alliance will benefit from the experience of IBM Services in financial risk, weather risk, analytics, and compliance along with the use of the Climanomics® platform to provide climate risk analytics to clients across all sectors.
“At a time when markets and investors are demanding climate risk transparency and quantification, IBM is committed to providing cloud-based climate risk solutions to the financial services sector and critical infrastructure industries such as industrial, consumer, energy, and utilities,” “This collaboration with The Climate Service will provide clients financial insights that are based on the most advanced available science and technology. As we work with clients to integrate critical insights into their business decision-making, our goal is to inform their strategy and help them remain competitive and resilient.” stated Dr. Murray Simpson, IBM’s Global Lead for Sustainability, Climate & Transition.
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