A key takeaway from our role as sponsors and exhibitors at the conference—attended by over 3,000 delegates from across Europe, as well as from the USA, Canada, Australia, Latin America, Asia, and Africa—is the clear recognition that our innovative RISK CLIMA application platform is globally leading in forecasting and managing extreme natural events and climate-related risks.
We found that large companies and organizations in both the public and private sectors, spanning various industries, increasingly recognize the need to anticipate climate-related risks and track their progression by specific locations.
To address this need, these organizations use systems that either draw on historical data to predict future conditions or rely on meteorological data and satellite information, processed through mathematical physics models. The latter approach is primarily used for short-term forecasts of severe weather and other natural events.
Most systems in development focus on site-specific assessments of natural disaster risks and the associated costs. These systems are designed for use by risk managers and insurance companies to estimate the financial impact of potential disasters, and by investors to inform decisions on whether to proceed with investments based on the level of risk.
The innovation of RiskClima, as we've observed, lies in its ability to:
Predict the long-term evolution of risks by location using advanced models and databases
Project these risks in five-year increments through to 2050
Adapt to various Representative Concentration Pathway (RCP) emissions scenarios, including RCP 2.6, RCP 4.5, RCP 6.0, and RCP 8.5
Account for both physical risks from natural events and transitional risks related to climate change adaptation
RiskClima also offers:
Proposals for a comprehensive range of mitigation actions, extending beyond just insurance solutions
Detailed cost analyses of potential impacts and each proposed mitigation action, tailored to the specific business type and its investment capacity
We left the conference highly satisfied, having connected with key European and international organizations and companies from diverse sectors that showed strong interest in our platform. We are already planning to present RiskClima in greater depth to several of these contacts and to move forward with a pilot implementation for a major Italian power generation organization.
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