S&P Global Acquires Climate Risk Assessment Provider

    Stockholm (NordSIP) – S&P Global announced the acquisition of The Climate Service, a North Carolina based climate risks analysis provider founded in 2017. Evercore acted as financial advisors and Cahill Gordon & Reindel LLP acted as legal advisors to S&P Global.

    Through this acquisition, S&P Global argues it will be able to offer its clients more transparent, robust and comprehensive climate data, models and analytics. This transaction builds on a milestone year for S&P Global and ESG, including the launch in April 2021 of S&P Global Sustainable1, S&P Global’s single source of essential sustainability intelligence.

    “We are passionate about providing the market with the essential information it needs to make smart decisions in the face of climate change,” says James McMahon, CEO, The Climate Service. “Together with S&P Global, we will take our climate risk capabilities to the next level and be able to deliver insights at scale that the world urgently needs.”

    The Climate Service, Inc. has developed an application for physical climate risk analytics for corporates, investors and governments. Its Climanomics® platform quantifies climate risk, decomposing it into transition risk and physical risk analysis presented in financial terms and aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The platform models physical risk, including extreme temperatures, drought, wildfire, coastal flooding, cyclone, and water stress, while also supporting clients with intelligence regarding transition risks including changing legal, regulatory, and market conditions.

    “More than ever, investors and companies seek evidence-based insights, high quality data and advanced analytics to support the decisions driving their strategies linking sustainability and business performance,” says Dr Richard Mattison, President, S&P Global Sustainable1. “We are delighted to introduce the best-in-class offering of The Climate Service to S&P Global’s ESG solutions, bringing an additional layer of critical insight to our leading suite of climate analytics. Our comprehensive coverage across global markets combined with in-depth ESG intelligence provides financial institutions, corporations and governments with the clarity and confidence to make decisions with conviction.”

    The Climate Service has won multiple awards for its innovative approach to analyzing climate risks, including the 2021 ESG Investing Best Specialist ESG Data Provider award, New Wave Leader 2020 by Forrester and World Changing Ideas by Fast Company.

    Image courtesy of moritz320 via Pixabay
    Filipe Albuquerque
    Filipe Albuquerque
    Filipe is an economist with 8 years of experience in macroeconomic and financial analysis for the Economist Intelligence Unit, the UN World Institute for Development Economic Research, the Stockholm School of Economics and the School of Oriental and African Studies. Filipe holds a MSc in European Political Economy from the LSE and a MSc in Economics from the University of London, where he currently is a PhD candidate.

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