FIS Launches Climate Risk Financial Modeler to Help Clients Assess, Reduce and Report Risks Tied to Climate Change
June 05 2024 - 7:00AM
Business Wire
FIS® (NYSE: FIS), a global leader in financial technology, today
announced the launch of its Climate Risk Financial Modeler. The new
SaaS risk offering aims to help businesses across all industries
better assess, reduce and report their exposure to the physical
risks of climate change.
By unlocking FIS’ powerful risk modeling and market leading
insurance analytics, FIS Climate Risk Financial Modeler harmonizes
client data with third-party climate data and is hosted on a new
interface that is directly tailored to the risk management needs of
corporates and financial institutions—ultimately seeking to drive
more proactive foresight into potential climate-related risks.
“The launch of the FIS Climate Risk Financial Modeler is the
latest chapter in our long history of market-leading risk
management software and services throughout the money lifecycle,”
said JP James, Head of Treasury and Risk at FIS. “Corporate climate
risk and the related regulatory pressures are becoming increasingly
important for executives and risk managers of all levels and across
all industries. With this launch, FIS is building on our
best-in-class insurance risk application capabilities to respond to
the challenges our clients face in understanding the potential
impacts of climate change on their business.”
Why The Climate Risk Financial Modeler Matters
According to the World Economic Forum, climate change and its
effects are estimated to cause between $1.7 trillion and $3.1
trillion in damages per year, including to infrastructure,
property, agriculture and human health, by 2050. Corporations of
all sizes and across all industries are expected to be affected,
and regulators around the world have been increasing their
climate-related reporting and stress testing requirements as a
result.
By adopting FIS’ Climate Risk Financial Modeler, clients can
gain a meaningful assessment of their operations, investments, and
strategic positioning from a climate risk perspective, as well as
efficiently support their climate-related regulatory
compliance.
How The Climate Risk Financial Modeler Works
With FIS’ Climate Risk Financial Modeler, users are able to
perform powerful modeling on various weather-related perils at both
local and global levels, project potential financial losses from
severe weather events, and determine the effects of climate change
on their operations.
The solution makes use of powerful data from PwC US, combined
with readily available information on a firm’s physical assets—such
as its buildings and contents—along with global climate data, and
performs relevant calculations.
"PwC's climate risk modeling services team takes pride in
helping companies make informed, predictive decisions around
escalating climate risks," said Richard de Haan, Global Risk
Modeling Services Leader at PwC US. "By providing a dataset that
underpins FIS’ Climate Risk Financial Modeler, our team is helping
to empower businesses of all sizes and sectors to shore up their
operations against extreme weather events, address climate
reporting requirements, and drive efficiency and
sustainability."
Learn more:
The FIS Climate Risk Financial Modeler is now available.
Corporates and institutions wishing to implement the tool into its
operations can visit
https://www.fisglobal.com/en/products/climate-risk.
Please note: FIS’ Climate Risk Financial Modeler solution allows
end clients to use a climate data model developed by PwC US. Due to
PwC’s independence obligations as a public accounting firm, PwC US
climate data will not be available to certain companies, therefore
FIS’ Climate Risk Financial Modeler solution is currently only
available to companies that are not subject to these independence
restrictions.
About FIS
FIS is a financial technology company providing solutions to
financial institutions, businesses and developers. We unlock
financial technology to the world across the money lifecycle
underpinning the world’s financial system. Our people are dedicated
to advancing the way the world pays, banks and invests, by helping
our clients to confidently run, grow and protect their businesses.
Our expertise comes from decades of experience helping financial
institutions and businesses of all sizes adapt to meet the needs of
their customers by harnessing where reliability meets innovation in
financial technology. Headquartered in Jacksonville, Florida, FIS
is a member of the Fortune 500® and the Standard & Poor’s 500®
Index. To learn more, visit FISglobal.com. Follow FIS on LinkedIn,
Facebook and X.
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version on businesswire.com: https://www.businesswire.com/news/home/20240605767266/en/
Kim Snider, 904.438.6278 Senior Vice President FIS Global
Marketing and Communications kim.snider@fisglobal.com
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