Jupiter Intelligence’s Post

Reflecting on 2024, I’m again reminded of the value of Jupiter’s representation in UNEPFI’s Climate Risk Landscape Report 2024 (linked below), particularly regarding our hazards alignment with climate risk disclosure requirements. The 2024 chart below, which is in UNEPFI’s report, illustrates Jupiter’s breadth of hazards, opportunities to assess hazard potential via risk drivers, and gaps relative to the most demanding regulatory disclosure requirements. Gaps that appear in our coverage typically arise from two main factors: either the hazard is too localized for meaningful global assessment, or the science behind those hazards just doesn’t yet support quality application in risk analysis at scale. Sometimes we can provide indicative risk drivers, and historically did this outside of our ClimateScore Global (CSG) platform. I’m pleased to share that we’ve recently expanded our hazard data sets within the CSG platform, incorporated as either direct pass-through or derived layers from peer-reviewed sources. The 2025 chart below shows the expanded set. These new hazard layers augment our already expansive metric collection. Some new additions serve as risk indicators, while others  integrate seamlessly with Jupiter’s core exposure products. Looking ahead to January 2025, our enhanced disclosure alignment reflects careful prioritization of metrics based on material risks to our customers and research progress in the scientific community. We continue to provide specialized assessments like ocean acidification and saline intrusion through custom solutions. We’re planning further coverage expansion throughout 2025 to continue support of broad climate risk analysis, and the evolving regulatory requirements, with superior and honest scientific assessments. UNEPFI report - https://lnkd.in/gHFE3JuC

As we step into 2024, it's clear that adaptation planning is moving to the forefront of strategies to manage climate change related risks in the real estate sector. The Securities and Exchange Commission (SEC) has set a new precedent with its announcement of enhanced climate risk disclosure requirements, especially concerning physical climate risks. I've only just started to dig into Wednesday's (March 6, 2024) announcement, but here are 3 takeaways: Physical Risk Disclosure: It's now imperative for companies to openly disclose climate-related risks that could materially affect their operations in the medium to long term. This involves detailing the nature of physical risks (acute or chronic) and pinpointing the location of properties or operations at risk. Water-Related Risks: Specific disclosures around water-related risks are required. For example, companies must disclose if a significant portion of their buildings or properties is situated in flood hazard areas or regions of high water stress, including the book value and percentage of total assets affected. Scenario Analysis: The guidelines emphasize the use of analytical tools, like scenario analysis, to evaluate the potential impact of climate-related risks on business and financial outcomes. This step is crucial for ensuring that a company's strategy remains resilient against the backdrop of evolving climate risks. Here are a few of the articles I've found particularly insightful, if you've found interesting reads please do share in the comments. https://lnkd.in/eaYNzwQf https://lnkd.in/ezdDZd-D https://lnkd.in/eSpfsx39 https://lnkd.in/esUss4kr

New project maps climate risks in Europe! In March, the European Environment Agency (EEA) released the report "European Climate Risk Assessment (EUCRA)," which describes the risks Europe faces due to climate change. Senior Researcher Martin Drews of DTU Management is an expert on the project's advisory board. The report aims to assess the current situation and what measures the EU should take to mitigate potential disasters - both in the short and long term. As Martin points out: “There are certain climate events that we may not be seeing in Denmark right now, but that will affect us in the future – and we are not yet fully aware of their risk, let alone adequately prepared to meet them.” For this reason, the report maps some of the potential chain reactions and catastrophic consequences that can be triggered by extreme weather and climate events. EUCRA also sheds light on the EU's "readiness" to deal with these challenges practically and politically and offers a perspective on who should take ownership of the challenges. It is the first time that a risk analysis with such a high level of detail has been developed for Europe. While the report can feel somewhat dire to read, Martin, who has previously participated in similar projects on behalf of both the EU and IPCC, maintains an overall optimistic belief that this report can- and will make a difference, particularly serving as a tool for political decision-making in the future. If you are interested, you can read more about the report here:  https://lnkd.in/d-nzkgrv

Have you read the European Environment Agency's latest European Climate Risk Assessment (EUCRA) yet? The EUCRA adds to what we already know about climate impacts and risks in Europe while combining findings from different sources, like reports from the Intergovernmental Panel on Climate Change and EU projects. Here are the 𝐤𝐞𝐲 𝐭𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 of the report: 🔥 Europe is warming faster than any other continent, leading to more extreme heat, changes in precipitation patterns, floods, and droughts. Especially southern Europe will see an increase in severe droughts. ⚠️ These climate-related events are threatening food and water supplies, energy stability, financial markets, and public health, and affecting social cohesion and stability as well as ecosystems. 🧑🦳 Climate change is a risk multiplier, making existing problems worse. Mega-droughts, infrastructure issues, and economic problems hit vulnerable groups the hardest. ⌛ Several climate risks have already reached critical levels. If we don't act fast, climate risks could become catastrophic by the end of the century. Hundreds of thousands of people would die from heatwaves, and economic losses from coastal floods alone could exceed EUR 1 trillion per year. ⚖️ Good policies can cut climate risks and damages, but we need to reduce greenhouse gases quickly and be ready for the unavoidable impacts of climate change. 🤝 We've learned a lot about climate risks, but we're not acting fast enough. While the EU has made good progress understanding and preparing for the climate risks being faced, societal preparedness is still low. We need to work together to deal with these shared problems. 🌱 Most policies and actions to strengthen Europe's resilience to climate change are made for the long term. Urgent action is needed now to prevent rigid choices that are not fit for the future in a changing climate. Thinking about climate when planning land and infrastructure is crucial to avoiding big risks. 🔐 Policies that deal with climate should fit with other goals, like helping the environment and society. Cooperating on plans while also considering other environmental, social and economic policy objectives, is key to dealing with climate change effectively. Do you think policymakers will be able to make the changes needed to mitigate climate risks? 🤔Let us know in the comments. #ClimateRiskAssessment #EUCRA #climatechange

Check out the Strategic Climate Risks Initiative It's a think-and-do tank collaboration for the next chapter of the climate and nature crisis... ...the chapter in which cascading, non-linear climate impacts will spiral; in which the risk of tipping points will grow and some might even be triggered; and the chapter in which 1.5C overshoot looks like it will happen. But that doesn't mean that it's 'game over', that the world 'lost'. Much is and will increasingly be lost, of course. But binary thinking isn't appropriate for what is now happening. The world has entered a far more challenging strategic context for action to tackle the climate and nature crisis. This context could present huge threats to action, as the world gets overwhelmed by managing worsening climate impacts and their destabilising consequences. But moments of dislocation also present unprecedented opportunities for change; for accelerating an already-rapid transition. Yet we have found that many organisations and communities do not have the insights and tools to understand and act on this context. Risk assessments have blind spots on cascading threats and tipping points. Resilience to current climate impact is poor, let alone for future shocks. Environmental stories often shy away from the challenges to come - and the opportunities therein. In response, the Strategic Climate Risks Initiative develops these insights and uses a set of tools to grow capabilities for navigating the next chapter of the climate and nature crisis. Some of our projects include: - developing a mitigation agenda for 'derailment risk': the risk that the *consequences* of climate change could get in the way of tackling the *causes* - a podcast documentary on the challenges arising from 1.5C overshoot - a fellowship to support creatives tell 'thrutopian' climate stories for policy impact - 'decision-useful' risk assessments of climate tipping points and 'resilience games' to play through how to manage the risks - a trial leadership development programme for emerging leaders (Cohort 2040) - a policy agenda for assessing and managing climate-induced human security threats (see: https://lnkd.in/eVwUTzTG) To learn more, follow us at Strategic Climate Risks Initiative and visit https://www.scri.org.uk/ - and please drop me a message. Also, follow our researcher Ben Shread-Hewitt and our partners UCL Climate Action Unit!

🏗️ Have you downloaded our handy (and free!) new e-guide: Get Started with Climate Risk Assessment for Physical Assets? Our guide is designed to support companies against a backdrop of increasingly frequent severe weather events and a new regulatory era. A robust physical climate risk assessment is a key element of fiduciary responsibility and new sustainability regulations — and it’s now required for large and listed companies in Europe. Regulators are highly specific about the data a credible assessment requires. Assessing physical climate risk is complex. It requires access to high-quality data and advanced modelling tools capable of capturing the complexity of infrastructure investments over time and across various climate scenarios. ➡️ Download the guide to map out how to assess your assets and meet compliance requirements for physical climate risk → https://lnkd.in/d6YnpAkA We cover: ✅ What regulators require in a physical climate risk assessment (specifically including the CSRD and ESRS framework) ✅ Materiality as the basis for any assessment ✅ The three must-haves for credible physical climate risk assessment ✅ The 4 steps of assessment (including how VIDA can help) ➡️ Book a call with us to find out more - our team of climate and data experts are here to help you develop integrated solutions for your physical climate risk reporting and assessment needs → https://lnkd.in/dq6rFqmJ

In March of 2022 Luke Kemp and co-authors published a paper entitled Climate Endgame: Exploring catastrophic climate change scenarios (See https://lnkd.in/eyDfJy2Q) At the time there were some who criticised this work as being alarmist, however as any actuary will tell you “prudent risk management requires consideration of bad-to-worst-case scenarios.” In the Kemp paper the authors recommended that the IPCC publish a special report on catastrophic climate change scenarios. Although this call has not been taken up yet, the European Environment Agency just released its first ever climate risk report entitled European Climate Risk Assessment (See https://lnkd.in/dZJi2j7i) In this report they identify 36 major risks facing the EU region. It makes for some sobering reading. In the report they say the following about these risks: “In the absence of additional adaptation actions, almost all (34 out of 36) climate risks would reach critical or even catastrophic levels during this century in a high warming scenario.” We are racing into a world where climate risks pose a real threat not only to ecosystems, food production, human health and infrastructure but also to the global economy and finacial systems. Do you know what the risks are for your region? How prepared are you to meet them? #ClimateLiteracy #ClimateCrisis #Adaptation - - - - - - - - - - 👩🏻💻 Improve your personal climate literacy by attending a climate literacy workshop or host one for your entire team. See https://lnkd.in/eQ2G5QWd

Avarni.co and Emmi.io both add tremendous value in helping companies achieve compliance with these SEC climate risk disclosure regulations… https://lnkd.in/gNumVhaE

With the release of the updated Queensland Future Climate resources (https://lnkd.in/gMVhqMHi) based on CMIP6 climate models, Queenslanders have access to cutting-edge information on plausible future climate conditions to inform risk assessments, disclosure reporting and adaptation planning.   If you're just starting to explore climate projections data and information, check out our series of factsheets (https://lnkd.in/g9b94WJA) that include topics such as: - guidance on how to select the best data source or tool for your needs - considerations for using climate projections information in risk assessments - the main differences between CMIP5 and CMIP6 climate models - some examples of how people are applying our climate resources.   Some factsheets are more technical and get into details about how the hazard metrics are calculated and presented on the resources.   Importantly, the performance of these projections over Queensland and Australia has been evaluated so you can apply the information with confidence. Please see this peer-reviewed research paper (https://lnkd.in/gHbvwnFy) for full details or you can find an overview in a factsheet.   The Queensland Government also provides climate risk assessment tools for households (https://lnkd.in/g7ypqwRV) and small businesses (https://lnkd.in/gD9zGdwq), as well as a climate risk management guideline for Queensland Government departments developed in collaboration with the Climate Ready Initiative - Griffith University (https://lnkd.in/gVBDQWXG). Below is an example of the kind of information you can extract from the Queensland Future Climate Dashboard. This shows the projected change in the number of hot days (over 35 degrees C), for 2070 under a high emissions scenario (SSP3-7.0) for the Fraser Coast Regional Council area. You can extract the underlying data in multiple formats for further analyses (tables and shapefiles).

It's my honor and privilege to work on a daily basis with Rico and Rob - two of the world's leading climate risk specialists. I highly recommend their newly published 10-minute article on their leading-edge work helping companies to build resilience, best identify and assess climate-related risks and opportunities, manage adaptation and mitigation strategies, and set clear goals given current natural realities and the variability of politics. https://lnkd.in/eHC5kuBH