In recent months, it has become clear that many firms have become more aware of and are starting to pay some attention to ESG. However, when it comes to reporting and risk, those same firms are unaware as to what climate risk reporting requirements on their clients’ portfolios and assets might look like against the global standard of the Task Force on Climate-Related Finance Disclosures (TCFD). Nor what portfolio emissions metrics might be consistent with the guidance set out by our local regulators to date.
Netherite and Grunweldt Advisory was established to provide no-nonsense risk assessment and reporting services to Channel Islands’ firms. Over the last six months we have been working with global software provider, Kiyai.ai, to develop a cloud-based reporting tool for climate risk and climate metrics for the types of financial service firms found in the Channel Islands. Particularly fiduciaries, fund administrators and insurers.
Our cloud reporting tool provides the complete range of emissions related metrics set out by TCFD. Its functionality includes benchmarking against global and national benchmarks and extends to estimation of requirements under the science base targets initiative, but the real boon for corporate governance is the auto generated risk report that measure separately against five different elements of climate risk: asset risk, transition risk, concentration risk, event risk and jurisdictional risk.
Being launched in the Autumn the tool, designed by Netherite and Grunweldt and developed and marketed jointly with Kiya.ai, technology and technical requirements have been meshed to enable us to develop a cost-effective risk and reporting tool with the specific requirements of Channel Islands reporting and governance requirements front of mind.