RELEASE: Riskthinking.AI: Climate risk data selected by OSFI and AMF

(Information sent by the signatory company).

RELEASE: Riskthinking.AI: Climate risk data selected by OSFI and AMF

(Information sent by the signatory company)

- Riskthinking.AI:Climate risk data curated by OSFI and AMF to drive mandatory climate scenario analysis

TORONTO, OTTAWA, ON and QUEBEC, April 11, 2024 /PRNewswire/ -- Riskthinking.AI today announced that it has been selected by the Office of the Superintendent of Financial Institutions (OSFI) to provide the necessary climate risk data for approximately 400 institutions financial institutions that must complete the Standardized Climate Scenarios Exercise (SCSE) by 2024 in collaboration with L'Autorité des marchés financiers (AMF).

Riskthinking.AI is making flood risk analysis available from its Climate Earth Digital Twin (CDT™) platform through a portal for approved representatives of each of the participants to access the data necessary to complete this analysis exercise. of scenarios.

The Office of the Superintendent of Financial Institutions (OSFI) is an independent agency of the Government of Canada. OSFI regulates and supervises more than 400 financial institutions and 1,200 pension plans. OSFI's purpose is to contribute to public confidence in the Canadian financial system by regulating and supervising approximately 400 federally regulated financial institutions (FRFIs) and 1,200 federally regulated pension plans (FRPPs).

The AMF considers climate risks to be among the most important facing the economy in terms of their potential impact. It believes it is essential to assess the climate risk exposure of the institutions it regulates and ensure that such risks are appropriately managed. The AMF's Climate Risk Management Guide, currently under public consultation, will come into force in 2024. The information collected through the SCSE will allow it to assess and compare the aggregate exposures of financial institutions to climate risks and take action necessary to guarantee the stability of the financial market.

"As a Toronto-based company, we are very honored to be aligned with OSFI and AMF, to participate in the SCSE and ultimately help Canadian financial institutions become resilient to climate change," said Ron Dembo, director. delegate and founder of Riskthinking.AI. "It's the latest example of how our data and analytics platform helps model climate risk."

Riskthinking.AI recently announced the availability of its CDT™, 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, including asset data. physical. 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.

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