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- Riskthinking.ai announces CDT™ as the first commercially available climate digital twin that takes into account the radical uncertainty of climate change risk
TORONTO, Jan. 25, 2024 /PRNewswire/ -- Riskthinking.ai today announced the launch of the first commercially available comprehensive climate digital twin for banks, insurance companies, countries and multinational corporations.
Riskthinking.ai's climate digital twin, CDT™, is a data and analytics platform that enables a complex institution to realistically simulate the future impact of climate change around the world on any aspect of its business. It is specifically aimed at meeting the requirements of regulators. Helps organizations model how climate, physical and transition risks may impact their organization in the future. Riskthinking.AI's CDT powers physical risk on the Bloomberg terminal.
Ron Dembo, CEO and founder of Riskthinking.ai, said: "The challenge facing banks that want to integrate climate risk into their operations is that they need an 'engine', not a series of inconsistent products. They need to have a single source of truth covering the full complexity of your products and operations. These functions cannot be easily replaced, but require augmentation with a climate risk simulation engine. CDT is the big E in ESG that everyone has been looking for."
Verdantix, an independent research company, echoes the need for a solution like this. Alice Saunders, climate risk solutions industry analyst at Verdantix, said: "We have recently highlighted that addressing climate-related risks must become an integral component of a company's enterprise risk management practice. These risks are unique to each business and require the right data, analytics and capabilities that many businesses lack. Climate risk solutions like Riskthinking.ai's CDT can help fill that gap and inform business strategy and decision making. "
Riskthinking.ai's vision is for each institution to have its own unique climate digital twin. Our solution enables them to operationalize their climate risk architecture and data environment. They can then easily add their own data, analysis, and assumptions without having the immense task of building and maintaining the system. Our CDT easily integrates with existing systems and enables operation in a way that protects the privacy of your data.
To learn about Riskthinking.ai's climate digital twin, visit www.riskthinking.ai or contact: firstname.lastname@example.org
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