Aon crafts climate reporting tools with data/analytics group Jupiter

Global insurance broker and risk advisory  Aon will craft means for financial institutions to measure and report climate risks in their investment and loan portfolios in a partnership with predictive data and analytics firm Jupiter.

The new collaboration will map and measure the range of potential impacts of climate change strewn throughout the balance sheets of financial institutions who are under increasing regulatory pressure to quantify and disclose their climate footprint.

The goal: to assist financial institutions in “identifying risks and opportunities and responding to the increasing volume, specificity, and quantification of climate regulations and disclosure requirements.”

Jupiter’s solutions, which include climate risk analyses for chronic and acute perils for individual assets and portfolio-level aggregation, will augment Aon’s extensive catastrophe modelling capabilities and ongoing climate research partnerships

Joe Monaghan, global growth leader at Aon’s Reinsurance Solutions, said: “This collaboration is designed to enable financial institutions to make better business decisions by combining Aon’s capabilities in risk and holistic financial analysis with Jupiter’s leadership in climate risk analytics. We believe that such comprehensive analyses will become even more crucial to financial institutions understanding the impact of climate change while maintaining operational effectiveness and regulatory compliance.”

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