Carbon Delta, a Zurich-based data analytics firm focused on climate change, wins a project to work with 13 investors, commissioned by the UN Environment Finance Initiative (UNEP FI). The project will deliver reporting guidance aligned with the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and develop an online tool. The results of the project will be launched in early 2019.
13 Institutional Investors Participating
Thirteen leading asset owners, insurers, and asset management firms announced in March that they would work together with the UN Environment Finance Initiative (UNEP FI) on developing guidelines towards a first set of climate-related investor disclosures in alignment with the recommendations of the Financial Stability Board’s (FSB) Task Force on Climate-Related Financial Disclosures (TCFD).
The investors that have joined the project are Addenda Capital, Aviva, Caisse de dépôt et placement du Québec, Desjardins Group, DNB Asset Management, KLP, La Française Group, The Link, Manulife Asset Management, Nordea Investment Management, Norges Bank Investment Management, Rockefeller Asset Management and Storebrand Asset Management.
Carbon Delta selected to support the Investor Group
UNEP FI and the Investor Group chose to work with Carbon Delta, a Zurich-based data analytics firm. The firm has developed a fully automated and forward-looking financial climate risk metric called “Climate Value-at-Risk”. The overall methodology deployed is closely aligned with the TCFD recommendations. This project kicked off in June 2018 and will conclude in early 2019.
Online Tool to be Established
David Lunsford, Carbon Delta’s co-founder and Project Manager for this work said, “We look forward to contributing to the development of TCFD guidance as well as an online reporting tool for direct access to climate scenario analysis. A report with the results of this work will become available to all financial institutions in early 2019, detailing the process undertaken by the Group to help achieve initial forward-looking climate change assessments. The work of the Group should help to move the industry a little closer towards the transparent disclosure of climate change related risks and opportunities of equities, corporate bonds and real estate within investment portfolios.”
Advancing Climate Change Disclosure within the Financial Industry
“Following the ratification of the Paris Agreement, financial regulators in most major world economies are now evaluating policies and measures to align the financial sector’s activities with long term climate stabilization targets. While currently a voluntary reporting standard, the investor community has shown a strong interest in aligning their disclosures with the TCFD recommendations. As part of this Pilot we look forward to advancing climate disclosure capabilities with our UNEP FI members, and throughout the broader financial community,” said UNEP FI’s Head, Eric Usher.
Contact: Roman Kübler, +41 44 552 77 64, email@example.com
Carbon Delta, an award-winning Swiss fintech, calculates and analyzes the risks and opportunities that climate change poses for investment portfolios. With their newly developed financial metric, called “Climate Value-at-Risk”, institutional investors can measure and assess climate impacts within portfolios. To carry out complex calculations on over 20,000 listed companies, Carbon Delta cooperates with the renowned Potsdam Institute for Climate Impact Research (PIK) and ETH Zurich. The startup has been supported by the EU initiative Climate-KIC and won their “Best European climate startup” award in 2016.
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