WTW strengthens climate risk services with key acquisition

Deal reinforces market-leading placement

WTW strengthens climate risk services with key acquisition


By Mika Pangilinan

WTW has announced the acquisition of Scottish fintech Butterwire, strengthening its position as a market-leading provider of climate risk analytics to organisations worldwide.

“We are delighted that the highly talented Butterwire team is joining WTW,” said David Nelson, senior director for climate transition analytics at WTW’s Climate and Resilience Hub. “They have been working closely with our team for a number of years, and bring proven capabilities that open significant opportunity. This acquisition enhances our ability to bring clients best-in-class products and solutions to help them achieve a climate-resilient future.”

Butterwire is a provider of data analytics, artificial intelligence (AI) and machine learning platforms comprised of researchers, data scientists, and software engineering professionals. These capabilities will help WTW expand its climate and investment services, a statement from the insurance giant said, allowing clients to manage climate-related financial risks “at scale and speed.”

“WTW is a world leader in risk management and this vote of confidence leads us to the next stage of our evolution,” said Raphael Fiorentino, CEO and founder of Butterwire. “I’m hugely excited by the potential that WTW’s acquisition of Butterwire brings and look forward to continuing our work alongside colleagues within the Climate and Resilience Hub, which has already achieved an unrivalled breadth and depth of climate expertise and capabilities.”

Butterwire has long been a WTW partner. Its software already incorporates the Climate Transition Value at Risk (CTVAR) methodology, a procedure that quantifies how equity and fixed-income valuations are impacted by alignment with the Paris Agreement. Additionally, it provided the platform underpinning WTW’s STOXX Climate Transition Indices (CTI), which was launched in 2021 to help investors, governments, and companies attain their net zero goals.

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