Intense climate-induced disasters have far-reaching impact on all spheres of life – health, economy, society, and environment. Climate risk intelligence is paramount to effectively respond to the increasing challenges of businesses such as financial health, operational continuity and business resilience. Whether it is cyclone Alfred in Australia or heat wave in multiple cities in India or water crisis in Johannesburg, climate induced disasters are continuously creating havoc to people, assets and economies.
According to World Economic Forum report, the global cost of climate change is estimated between $1.7 billion to $ 3.1 trillion per year by 2050. From 2000 -2019, cost of extreme weather events accounts for $16.3 million per hour. To address the growing challenges, businesses have to pay increasing insurance premiums and, also set aside share of cash flow for both preparation as well as repair maintenance. One of the key challenges is to minimise the cost of climate change. Robust financial risk management helps in shielding the company’s financial health by insuring, reserving and borrowing. However, one of the bigger impacts of extreme weather events is loss of revenue, loss of operational capacity and disruptions in supply chain management. Climate change induced extreme events disproportionately affect smaller companies which are usually cash strapped and the opportunity cost of capital allocation is high.
To address these challenges, climate risk intelligence is paramount. Climate Risk Intelligence helps in identifying the pattern, monitor the extreme weather events and respond to the critical events. With the help of risk intelligence and critical event monitoring, businesses can track their assets, operations and people across the globe, gauge their vulnerability and take mitigatory steps to address the risks.
How does Climate Risk Intelligence help?
- Extreme weather monitoring helps track the development of critical weather events such as floods, heatwaves through OSINT and meteorological reports.
- Live monitoring and risk alerts help track supply chain disruptions and ensure operational continuity and infrastructure resilience.
- In-depth analysis of historical trend analysis identifies the vulnerable key assets and operations.
- Enhances corporate sustainability and ESG compliance by tracking regulations, carbon tax laws and sustainability mandates.
- Support financial and investment decision making by factoring in the climate risk impact on real estate, insurance and investment portfolio.
To track these developments, a climate risk intelligent tool is a must to provide accurate, reliable and quick intelligence. A risk monitoring platform such as MitKat’s datasurfr can help businesses equip with actionable insights to deal with growing critical risk events.
How Can Datasurfr Enhance Climate Risk Intelligence?
- Real-time monitoring risk alerts for tailored geographies.
- Operational risk reports and advisories curated by subject matter experts.
- 24*7 access to our analysts for in-depth information about the event.
- Historical trend analysis for a region or business location.
Features Loved by Clients:
- Proximity risk alerts ensure monitoring of developments happening across assets.
- Global, regional, and local coverage across 50+ languages.
- Multiple-tab functionality which ensures monitoring multiple locations.
- Customised risk matrix and impact level of risks.
MitKat is a trusted name in the security industry and offers the best climate risk intelligent insights that enable organisation make better, informed strategic decisions. Our critical event monitoring and risk intelligence tool, datasurfr can equip businesses with strategic insights in the event of climate induced disasters.
For more information, please visit https://mitkatadvisory.com/
Disclaimer: This article is based on information gathered from OSINT sources, including news, updates, and reports.