Climate risk intelligence company Climate X has raised $18 million to accelerate its global expansion and help the world’s leading financial organisations price the impact of climate change across their physical asset portfolios.
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Large asset values and significant infrastructure sit in the pathways of tropical cyclones. Financial institutions and asset managers need data to know about the physical risks to their coastal and inland assets from tropical cyclones. Then, they can make informed and successful adaptation and retrofitting decisions.
Tropical cyclones can be an asset manager’s nightmare. From zero to catastrophe in a matter of days, leaving huge swathes of infrastructure as rubble in its wake. While the physical risks might have been understood fairly well in recent decades, tropical cyclones and their risks are being modified by human-caused climate change.