Insights
23 April 2021

Our founder and CEO chats to IBS Intelligence about climate and the financial sector

By Cervest

Our founder and CEO chats to IBS Intelligence about climate and the financial sector

Our Founder and CEO, Iggy Bassi, recently spoke with Sunniva Kolostyak for the IBSI Views podcast, discussing the importance of Climate Intelligence and how to climate-proof the financial sector.

Find a sneak-preview of what Iggy discussed below, and listen to the full podcast

Demystifying the link between climate-proofing assets and finance

From funding flood barriers, to transferring assets, Sunniva and Iggy discussed how advances in satellite data and machine learning can fuel climate-proof financial decision making.

“Climate proofing is about understanding your forward risk, and saying ‘What financial actions can I take today?’”

Recognising the scale of the climate challenge

Iggy dove into how comprehensive Climate Intelligence is essential to taking on planet-level challenges beyond any single climate risk factor, or organization.

“Climate Intelligence and climate problems are more than a risk framing. It’s fundamentally a question of how we rebuild our economy.”

Exploring the application of machine learning and artificial intelligence

Sunniva asked Iggy about how Cervest’s technology works, and the role of data and AI in creating Climate Intelligence

“We look back about 40 or 50 years […] we ask, what’s already changed, what’s accelerated and why. What does that mean for the next 5, 10, 15, 30 years?”

Critiquing the Task Force on Climate-related Financial Disclosure (TCFD) framework

Does the TCFD go far enough? Iggy expresses cautious optimism, but identifies the areas that need improvement, from standardisation to mandatory disclosures.

“The framework itself is too loose at the moment. We’d like to see it tightened. Let’s get down to asset-level specificity and scenario planning that’s probabilistic and realistic.”

Applying the lessons of COVID-19 to climate

After global trade has been rocked by the pandemic, Iggy and Sunniva discuss how COVID-19 is demonstrating the urgent need for climate action.

“It’s in your [organizations] interest not to wait for the shocks. COVID was a massive shock to the system and it’s sharpening the focus toward climate risk now.”

Detailing how enterprises can leverage Cervest’s technology

Touching on the upcoming launch of EarthScan™, Iggy discusses the importance of making Climate Intelligence open-access and free, and how enterprises and their partners will be able to use the product to leverage insights in financial decision making.

“Anyone will be able to build portfolios, understand what’s happened historically to their assets, and what will happen to those assets going forward.”

To hear more, listen to the full podcast here.

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