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Among 85 submissions from 70 companies, innovative climate risk startup Riskthinking.AI is named a finalist among a distinguished group of companies.
TORONTO, Dec. 15, 2023 /PRNewswire/ -- Riskthinking.AI, a Toronto-based climate risk data and analytics provider, proudly announces its achievement of placing second in the Monetary Authority's Green Fintech competition. Hong Kong (HKMA), held as part of the Green and Sustainable Banking Conference.
HKMA announced Riskthinking.AI's award on December 11, 2023 at its Green and Sustainable Banking Conference. This event brought together more than 300 Hong Kong banks, technology companies and regulators focused on accelerating the net zero transition and investing in climate resilience through innovative technology.
The HKMA's Green Fintech competition was a focus of the conference. The competition sought market-ready solutions in four categories: net zero transition, climate risk management, green and sustainable finance, and sustainability or climate-related disclosure and reporting.
Riskthinking.AI was selected from over 80 applications as the first finalist in the Climate Risk Management category.
"The jury was impressed by the company's solution and its potential to address the pain points of Hong Kong's banking sector," said an HKMA representative when announcing the competition result.
At the conference, Riskthinking.AI showcased its enterprise solution to help Hong Kong market participants measure and manage climate-related financial risk. The company's presentation included its DigitalClimateEarthTwin™, a global platform and modeling engine that includes trillions of economic, climate and physical asset data points, and VELO®, a web-based product for visualizing and analyzing financial risks related to the climate.
HKMA's recognition of Riskthinking.AI in the Green Fintech competition underlines its achievement in innovating accessible, comprehensive and reliable solutions for measuring climate-related financial risk around the world, including in Asia.
"Riskthinking.AI is honored to be among the distinguished group of HKMA finalists and to be recognized at such an important event. The HKMA's leadership in sustainable finance and green fintech is admirable and our team is very proud to help Hong Kong institutions navigate the uncertainty of climate risk," said Ron Dembo, founder and CEO of Riskthinking.AI. "We are a new Canadian company with big ambitions. Our mission is to align financial market prices with the full reality of climate change."
Rather than increasing its carbon footprint by making the trip from Toronto, Riskthinking.AI was grateful to be represented at the conference by colleagues from Bloomberg L.P., an official partner of Hong Kong-based Riskthinking.AI.
Riskthinking.AI is at the forefront of innovation as a leading data and analytics provider dedicated to guiding its clients through the financial impact of the changing climate.
Sign up for a free trial of VELO on their website: www.riskthinking.ai
ABOUT RISKTHINKING.AI
Founded by financial risk pioneer Dr. Ron Dembo, Riskthinking.AI is a leading data and technology company that is realigning financial risk to the reality of climate change. Its innovative algorithms are used to generate, select and maintain a detailed database of physical assets, infrastructure and commodities covering more than a quarter of a million companies. This data, combined with Riskthinking.AI's proprietary multi-factor and stochastic climate risk analysis, allows financial institutions, corporations and governments to capture unforeseen impacts of climate change that current models miss. Riskthinking.AI has operations in North America and Europe and provides its services globally. For more information, visit www.riskthinking.ai.
CONTACT: Riskthinking.AI, Dr. Ron Dembo, Founder and CEO, 416-294-3144, r.dembo@riskthinking.ai, John White, Managing Director, EMEA, 44 778 0003337, j.white@riskthinking.ai
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