Tech giants band together for climate

A new open data and analytics initiative is aiming to model better risk management and boost financing for climate solutions.

Headed by the Linux Foundation (LF), the non-profit open source organisation, the LF Climate Finance Foundation (LFCF) uses AI-enhanced open source analytics and open data to help investors, banks, insurers, companies, governments, NGOs and academia address climate risk and opportunity. Allianz, Amazon, Microsoft and S&P Global are founding members and the planning team includes representatives from the World Wide Fund for Nature (WWF), Ceres and the Sustainability Accounting Standards Board (SASB).

To help increase , the LFCF is hosting the OS-Climate platform, which is expected to consist of multiple physical and economic scenarios, a global and open Data Commons and economic and financial models that accelerate predictive analytic tools and investment products that manage climate-related risk and finance climate solutions across every geography, sector and asset class.

“There is a clear call from major pension funds, banks, governments and civil society for public access to corporate climate data and other data needed for finance to support Paris Climate Accord goals, as well as for better tools to inform financial decisions,” said Truman Semans, who has led community building to support the OS-Climate platform and to form the LF Climate Finance Foundation.

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