Jupiter, provider of predictive data and analytics for climate risk and resilience, will collaborate with the Boston Consulting Group (BCG), a global consulting firm in the climate space, that will incorporate Jupiter’s climate analytics into BCG’s existing ClimateImpact.AI platform. This collaboration will bring enhanced data sources and analytics to speed project delivery and improve customized insights for BCG’s clients, the companies say.
Observing recent trends, BCG sees growing consumer demand for greener products, rapidly evolving regulation on emission and climate-risk disclosure, and the growing prominence of sustainability and climate resilience as points of differentiation.
Now bolstered with Jupiter’s data and analytics, BCG will use its ClimateImpact.AI platform to segment a company’s value chain to understand what drives profits, overlay transition and physical climate risks, identify “value at risk” hot spots, and then help the client prioritize areas of risk abatement and evaluate risk/cost trade-offs to reduce business risk and costs.
Helping businesses and governments plan for escalating climate change risks is crucial for companies to become more resilient in the face of more extreme weather events, sea level rise and other hazards. This can minimize economic losses.
A new report from the Deloitte Center for Sustainable Progress (DCSP) released today during the World Economic Forum’s annual meeting indicates that — if left unchecked — climate change could cost the global economy $178 trillion over the next 50 years, or a 7.6% cut to global gross domestic product (GDP) in the year 2070 alone.
Recent research by Oxford Economics and SAP has uncovered significant barriers to corporate sustainability initiatives. The problems include a lack of communication and engagement by executives, ineffective use of data, siloed technologies that don’t share processes or information, and a lack of cross-company and industry collaboration and partnership. The collaboration between Jupiter and BCG combats these barriers, the companies believe.
“To best serve our clients, BCG surveyed the entire climate analytics space and performed deep-dives on almost 20 specific climate data vendors,” said Mike Lyons, BCG Managing Director & Partner.
Editor’s note: Don’t miss the virtual Environment+Energy Leader Solutions Summit, July 19-21. Learn tangible, innovative solutions to the struggles you face every day. Speakers from companies including Kellogg’s, Estée Lauder Companies, American Family Insurance, Tillamook and many more will share tactics and lessons-learned that can help you solve your energy management, sustainability and ESG challenges. Learn more about the Summit here, or go straight to registration!