XDI partners with Climate Arc and University of Oxford on physical risk and adaptation

XDI (Cross Dependency Initiative) is excited to announce a new partnership with Climate Arc and the Resilient Planet Finance Lab at the Environmental Change Institute, University of Oxford, to develop new physical risk and adaptation capabilities that will introduce much needed transparency and accountability of corporations globally. 

 “We’re thrilled to be collaborating with the Environmental Change Institute, University of Oxford, to expand Climate Arc’s suite of offerings into the physical risk and adaptation space,” said Dr Karl Mallon, Director of Science and Technology, XDI (Cross Dependency Initiative), part of The Climate Risk Group.

“Transparency, comparability and accessibility of climate change data is critical to accurately understand the true cost of climate change, and trigger the decisions necessary to drive transformation to a zero carbon, high resilience economy,” he added.

Last week, Climate Arc launched TransitionArc from the Climate Innovation Forum 2024.

TransitionArc is a one-stop tool to assess corporate transitions, and unlock finance at speed and at scale needed to meet climate goals. It brings together the best transition data and analysis available on the market, filling a key gap in the climate finance ecosystem. It is a unique collaboration between world-leading corporate climate data and analysis providers including Carbon Tracker Initiative, CDP, Corporate Knights, Global Canopy, InfluenceMap, the International Council on Clean Transportation, Science Based Targets initiative, Transition Pathway Initiative, and World Benchmarking Alliance.

The new physical risk and adaptation initiative involving XDI and the Resilient Planet Finance Lab at the Environmental Change Institute, University of Oxford, aims to bring similar transparency and comparability by providing company level physical risk metrics covering the frequency of extreme weather disruption, insurance costs, supply chain effects and climate driven impairment to annual revenues. 

For the first time in the public domain, adaptation metrics will sit alongside greenhouse gas emissions, climate targets, capital allocation, governance, and policy engagement, in a tool for anyone to see where a company lies on the path to achieving climate goals.

A preview of this work will be showcased in September 2024 at New York Climate Week, with full integration planned for 2025. 

“This is the latest in a series of new partnerships for XDI harnessing innovative technology to deliver actionable physical climate risk insights and decision-ready metrics to businesses, governments and organisations globally. We look forward to the next steps in this collaboration,”  said Dr Mallon.

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About Climate Arc

Climate Arc (Arc) is a philanthropically funded non-profit organization established in 2022 to unlock the flow of private finance to climate solutions. Arc ensures that financialdecision makers and the wider climate ecosystem have the tools, analysis and capacity to accelerate corporate transition in line with the Paris Agreement.

About Resilient Planet Finance Lab at the Environmental Change Institute, University of Oxford

The Resilient Planet Finance Lab is hosted by the Environmental ChangeInstitute of the University of Oxford and is an accelerator research and innovation programme working with governments, financial institutions and regulators to provide analytics and solutions to radically upscale finance for nature,  and adaptation and widersustainable development goals. The Finance Lab and its Data Hub are convened by the UN Office for Disaster Risk Reduction and,the Insurance Development Forum with the University of Oxford.

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