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RMS to launch new climate change models

RMS to launch new climate change models

Catastrophe risk solutions company RMS has announced the forthcoming launch of a new suite of climate-change models to help customers assess the near- and long-term impacts of climate change on physical assets and their businesses.

“Today there are no robust or consistent frameworks that can quantify the physical risks posed by catastrophes in a changing climate at the depth required,” said RMS CEO Karen White. “The innovative suite of RMS climate-change models changes that, giving the market a powerful new set of tools.

“With increasing board-level attention, stakeholder scrutiny and regulatory pressure, businesses need to operationalize climate-change analytics to make better decisions and enable better transparency. It is clear that the financial impacts of climate change are not solely a ‘future problem.’ The increasing incidence of wildfires, floods and hurricanes mean that climate change insights need to be incorporated into financial decisions that are made today, in parallel with long-term strategic planning and meeting increasing regulatory, environmental, social and governance (ESG) and TCFD reporting requirements and investor and customer demands. This necessitates a climate-change framework and models fully consistent with today’s catastrophe risk analytics and one which addresses the challenges posed by physical climate-change risk and its broad impact across all relevant time scales – from today through to the end of the century.”

The new RMS climate change models take the company’s existing capabilities further with forward-looking predictive insights and analysis. They utilize the best climate science consensus, including from the Intergovernmental Panel on Climate Change.

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