Country for PR: United States
Contributor: Medianet International
Friday, March 13 2020 - 13:33
XDI joins Legal & General, Baringa to launch global best-practice Climate Risk Framework
LONDON, 12 Mar. 2020 /Medianet International-AsiaNet/--

Australian-based clim-tech company XDI today joined globals Legal & General 
Investment Management (L&G) and Baringa Partners to launch a new, 
market-leading Climate Change Risk Framework using the most comprehensive 
climate change data available worldwide.

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With financial regulators globally calling for stress testing climate risk, 
firms may soon be required to test the physical and transition risks of climate 
scenarios as impacts increase due to climate change.

L&G, the UK's largest investment company, working with XDI on climate physical 
risk and Baringa on transition (emissions reduction) risks, has developed a new 
Climate Change Scenario Model that allows businesses to produce end-to-end, 
transparent and highly interactive climate risk data. It is the world's first 
portfolio-scale TCFD reporting tool covering counterparty company assets.

XDI analyzed 1.8 millions assets associated with 1,800 listed companies in the 
US, Canada, Europe, Africa, the UK and Australia against climate risk hazards 
including flooding, coastal inundation, heat, drought and forest fire. XDI's 
data and analysis are the basis for the physical risk quantification in the new 
framework launched in London today.

"XDI now offers the finance sector the most comprehensive climate risk 
assessment available in line with TCFD physical risk reporting," said XDI CEO 
Rohan Hamden. "The new tool allows investors and potential buyers to carry out 
detailed analysis on companies and their assets independently."

"The ability to assess a company's climate risk independently is a 
game-changer. A company can no longer hide risk and potential costs of impacts 
from extreme weather," Hamden said. "Our new framework means that those who 
haven't assessed and reported climate risk are vulnerable in a market where 
detailed, counterparty assessment is now being carried out."

"We at XDI hope the new framework will provide a more objective understanding 
of business climate risk and show that independent climate analysis -- not just 
self disclosure -- is now possible," Hamden said. "Investors like L&G can now 
undertake climate change risk analysis across a target company's assets 
anywhere globally."

Legal & General Investment Management:
Baringa Partners:

Rohan Hamden, CEO, XDI: +61 (0) 422 394 679,
Blair Palese, XDI Communications: +61(0) 414-659511,


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