Across sectors, and amongst the policy, academic and business community, understanding climate risk is a growing priority.
Climate risk is increasingly gathering attention as part of rising broader awareness of the impact of climate change and the need to tackle it. The influence of measures from the recently announced Green Recovery fund in the UK, to growing adoption of the Task Force on Climate Related Financial Disclosures’ guidelines, have meant this once sidelined topic is now front and centre.
With this rapidly growing interest, the Cervest team has been proud to join a variety of experts at several virtual events in the last month, to discuss the role technology plays in quantifying climate risk and creating a more resilient future. Here are some key highlights:
EuroNews – Panel on ‘How can artificial intelligence help to fight climate change?’
Cervest’s CEO and founder, Iggy Bassi, joined this panel session framed around the planet’s biggest challenge, and how AI is an essential tool in tackling it.
Iggy spoke alongside Peter Dueben of the European Centre for Medium Range Weather Forecasting and Rachel Furner, a member of the Dynamical Meteorology & Oceanography research group at Cambridge University.
In a wide ranging discussion hosted by Jeremy Wilks, space science and climate correspondent at Euronews, Iggy, Peter and Rachel delved into the current advances in AI and what the future holds.
Iggy detailed the key role of AI in making sense of vast quantities of data to create asset-level insights businesses and governments can use to make informed decisions on climate risk. On top of this, Iggy further explained the need for climate-related financial risk disclosures to drive greater transparency around climate risk in enterprise, as well as the impetus for businesses to move faster than policy makers when it comes to protecting their assets.
“I ran my own business, and some of my assets suffered heavily because of climate change. […] If you want to run your business in a way that’s climate proof, you have to understand climate. You can’t wait for policy changes to tell you what to do.” – Iggy Bassi
The need for AI and Machine Learning to support the analysis of the depth and complexity of climate data was further backed up by Peter and Rachel’s experience.
Peter noted that 100s of petabytes of data are processed by his organisation—a figure that would be impossible to analyse manually. Rachel meanwhile touched on applications of AI in recognizing patterns between observable surface activity on the oceans and carbon movements taking place miles beneath the surface.
For an even deeper dive, check out the video of the full panel here.
TNW Conference 2020 – Panel on ‘Sustainability in Action’
TNW Conference is one of the world’s leading technology conferences, usually attracting thousands of startups, investors and business leaders from across the world to gather in Amsterdam.
Naturally, this year the conference was held virtually, and Iggy was pleased to join Frederika Klaren, Head of Sustainability at Polestar and Renae Kezar, Global Leader of Sustainability at Avery Dennison on a panel to discuss ‘Sustainability in Action’.
Founder of The Humblebrag, Lucy von Sturmer hosted a lively conversation covering diverse topics such as the adaptation and innovation in sustainability, the role of entrepreneurs and business in creating forces for good and how climate-safe and sustainable businesses can thrive.
One of the key themes discussed was the need for the technology community to support businesses and governments in meeting the 1.5°C global warming target in the Paris Agreement, and the wider action required to avoid catastrophic ramifications created by a lack of climate security.
“There isn’t a country on the planet that doesn’t have climate and sustainability on their agenda. There is significant power in the funding to fight against the adverse effects on climate change. That breeds optimism. 1.5% over 5 years may not be realistic, however the systems we have in place can be transformational for much longer than that.” – Iggy Bassi
Find out more about TNW Conference here.
Dublin Tech Summit Virtual 2020 – Keynote on harnessing AI to tackle climate volatility
Another globally-leading technology event moved to the digital space this year with Dublin Tech Summit holding its conference virtually in October.
Once more, the role of technology in combating climate issues was top of the agenda, with Cervest’s Chief Product & Technology Officer, Alex Rahin, invited to deliver a keynote talk on ‘Harnessing the Power of AI to Mitigate the Impact of Climate Volatility’.
Alex’s keynote focused on the main problem at hand—how climate volatility is reducing the security of all physical assets, impacting financial, social and ecological returns. This in turn is accelerating the urgency to integrate climate intelligence into decisions we make. He explained how Cervest is using automating climate intelligence on hundreds of millions of assets to inform billions of decisions, through our open-access platform which will be rolled out next year.
Find out more about the Dublin Tech Summit 2020, here.
Across the scientific, academic, business and policy communities it’s clear that climate risk is a present and growing concern. In spite of this year’s challenges it is fantastic to see events adapting to virtual approaches and ensuring these vital discussions keep moving forward.
At Cervest we look forward to continuing to contribute to these conversations, ensuring everyone has access to the information they need to start managing their future climate security.
For more information on how Cervest can help you, please get in touch..