Catastrophe Models Risk Management Solutions Inc. said on Monday that it will launch climate change models in June, initially for its North Atlantic hurricane, Europe's internal flood and wind storm models. the effects of climate change on physical assets and their businesses so that they can make risk and financial decisions, says RMS in Newark, California in a statement.
The models contain forward-looking predictive insights and analyzes and have probable modeling to capture events across different scenarios for climate change, RMS said.
They can also adjust time horizons and representative concentration paths, which are greenhouse gas concentration paths adopted by the Intergovernmental Panel on Climate Change.
RMS climate models will also provide advice and counseling within climate change specialist and support for regulatory, environmental, social and community governance ance and climate-related requirements for financial information.
Additional models and geographies will follow the initial launch, RMS said.
With increasing attention at the board level, stakeholder review and regulatory pressure, companies need to operate on climate change analysis to make better decisions, said RMS CEO Karen White in the statement.
"This requires a framework for climate change and models that are fully compatible with today's disaster risk analysis and one that addresses the challenges associated with physical climate change risk and its broad impact on all relevant time scales ̵