Everstream Analytics launched Climate Risk Scores, a first-in-the-industry strategic supplier risk assessment solution designed to quantify the impact of leading climate indicators and project how identified risk will impact customer supply chains.
“As temperatures and extreme weather events around the world continue to rise, businesses can no longer ignore the impact of climate change on their operations and suppliers,” says Jon Davis, chief meteorologist at Everstream Analytics. “We’ve consulted with the world’s largest brands on the top risk indicators impacting their operations, and we’re thrilled to bring this industry-first capability into Explore to automate access for all our clients. With pathways ranging from low to high impact, this capability further enables organizations to grasp the full spectrum of potential outcomes in real-time, make informed decisions and proactively mitigate risks.”
Key takeaways:
- Climate Risk Scores enables clients to apply eight new climate indicator risk projection scores to their facilities and supplier locations to forecast future climate risk and support business continuity. Integrated into Explore, Climate Risk Scores leverages data from the Intergovernmental Panel on Climate Change (IPCC) to project scores to varying locations using the following category indicators: tropical cyclone, river flood, sea level rise, heat, fire weather, cold, drought and precipitation.
- The Climate Risk Scores capability provides indicator risk projections for key natural disaster and weather risks into 2040, 2050 and 2100, offering several forecast scenarios at each juncture. The proactive planning tool can apply these insights to an organization’s systems via APIs, to directly incorporate climate projections and risk severity levels into your action systems for smarter decisions. As organizations expand or onboard new suppliers, understanding potential production site vulnerabilities becomes paramount. Climate Risk scores offer insights into how these new operations may be affected, allowing organizations to make informed decisions and mitigate risks proactively.
“At Everstream, we have always been committed to providing our customers with innovative solutions that offer predictive intelligence and deliver resiliency into their supply chains. As organizations expand or onboard new suppliers, understanding potential production site vulnerabilities becomes paramount,” said Paige Cox, Chief Product Officer at Everstream Analytics. “We are proud to be the first in the industry to offer this indispensable capability that enables organizations to better secure their supply chain and avoid costly disruptions. This not only offers our clients a competitive edge, but also peace of mind that their business is prepared to thrive in a changing climate.”