JERSEY CITY - Verisk Analytics, Inc. (NASDAQ:VRSK), a prominent data analytics and technology firm, has issued its inaugural report aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The document, a first for the company, includes detailed analyses of physical and transition risks associated with climate change, as well as the potential impacts of carbon pricing.
Lee Shavel, the company's president and CEO, emphasized the importance of these analyses for the firm's strategy and investments, which focus on supporting their clients and enhancing resilience for individuals, businesses, and communities.
Key features of the report are the assessments of climate-related hazards affecting Verisk's operations and the risks associated with transitioning to a low-carbon economy. These include considerations across policy, legal, technology, market, and reputational categories. The report also evaluates the potential risks and impacts of carbon pricing under scenarios such as Net Zero 2050 and Divergent Net Zero.
Verisk, which serves as a strategic partner to the global insurance industry, applies its risk assessment solutions, including catastrophe models and ESG risk datasets, to aid insurers, reinsurers, and large organizations in managing climate and energy transition challenges. These tools also played a role in validating the findings of the independent assessment.
The release of the TCFD report is in line with Verisk's broader commitment to corporate social responsibility and its role in providing data analytics, software, and scientific research to address global risks. The company's efforts contribute to building resilience against climate change, extreme events, and other ESG-related issues.
This news is based on a press release statement from Verisk Analytics, Inc.
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