Leading credit ratings, benchmarks and analytics provider S&P Global announced today the acquisition of climate risk analytics solutions and tools provider The Climate Service.

Founded in 2017, The Climate Service provides solutions to enable investors, companies, and communities understand financial risks from climate change and the opportunities from a transition to a lower-carbon economy. The company’s Climanomics platform quantifies climate risk, providing outputs to measure and report transition and physical risks and opportunities in financial terms under different climate scenarios, and enabling users to report and disclose climate risk in alignment with the Task Force on Climate-Related Financial Disclosures (TCFD) framework. In addition to modeling physical risks ranging from extreme temperatures, drought and wildfire to coastal flooding, cyclone, and water stress, the platform also provides clients with intelligence regarding transition risks including changing legal, regulatory, and market conditions.

James McMahon, CEO, The Climate Service, said:

“We are passionate about providing the market with the essential information it needs to make smart decisions in the face of climate change. 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.”

According to S&P Global, the acquisition will add capabilities to the company’s portfolio ESG insights and solutions for its customers. The announcement follows the launch last year by S&P Global of Sustainable1, an integrated group for the company’s full suite of sustainability offerings, including its benchmarking, analytics, evaluations, and indices products and solutions, and serving as a single source for the ESG products, insights and solutions from all S&P Global divisions.

Richard Mattison, President, S&P Global Sustainable1, said:

“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. 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.”

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