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New Collaboration Aims To Ease Climate-Related Business Risks

D&B Climate Risk Insights solution bridges the gap between long-term climate models and short-term decision-making.

With the launch of D&B Climate Risk Insights, Dun & Bradstreet and Climate Engine will help businesses mitigate the risks of climate-related disasters and build more resilient business relationships. The new solution helps business leaders better understand what they can do to prepare for and withstand the impacts of extreme climate events, and avoid business disruptions by leveraging both near-term weather predictions and long-term climate models.

D&B Climate Risk Insights combines Dun & Bradstreet’s Data Cloud with Climate Engine’s climate risk data gathered from geo-spatial satellite imagery. This collaboration uncovers the links between planetary change and economic impacts on more than 200 million active business locations. In addition to chronic risks, the solution delivers insights on acute physical climate risks to provide visibility for predicting climate-related impacts and calculating the probability of recovery. Traditionally, companies have relied on long-term climate models to plan for related risks, often extending their forecasting horizons to 2050 and 2100. These long-term models are invaluable for strategic planning, but may fall short when businesses need to make decisions rapidly amid changing environmental conditions.

“As climate-related events continue to impact the global business environment, long-term models can serve as a compass for charting the course, but business leaders need to be prepared with the necessary insights to make immediate, tactical decisions around their operations and investments to mitigate these risks,” said Jason Lindauer, Senior Director, Environmental, Social & Governance (ESG) Product, Dun & Bradstreet. “D&B Climate Risk Insights is a powerful tool to help navigate an increasingly complex and climate-vulnerable landscape.”

The Impact Of Climate On Business

The frequency and severity of climate-related events are affecting the financial landscape, insurance industry, and global supply chains, presenting a growing challenge to businesses worldwide. According to the National Oceanic and Atmospheric Administration, the United States alone has already exceeded $57.6 billion in damages in 2023, suffering from the most billion dollar climate-related events in a calendar year. Data from Dun & Bradstreet indicates that this trend will continue: By 2050 over 82%, or more than 192 million, of business locations worldwide are likely to double their risk of experiencing at least one extreme climate event that could threaten business continuity.

“By fusing Dun & Bradstreet’s extensive firmographic and financial data with Climate Engine’s cutting-edge climate data analytics, we can provide businesses with an economic early warning system that helps them to predict the financial impacts of climate change, so they can make informed decisions and proactively build business resilience in the face of climate risks,” said Jamie Herring, CEO at Climate Engine.

D&B Climate Risk Insights can be applied across various sectors and industries. For example, financial institutions can enhance lending and investment decisions by incorporating new climate risk considerations, while insurers can refine their risk models, pricing strategies, and underwriting practices. Additionally, supply chain stakeholders can proactively minimize their risk and mitigate near-term and long-term vulnerabilities, fostering operational resilience and sustainability.

Click here to read more about environmental, climate and business continuity issues from Continuity Insights.

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