WTW presents latest iteration of Climate Diagnostic | Insurance Business New Zealand
WTW has announced the enhanced capability of its global climate modelling tool, Climate Diagnostic.
This latest iteration of Climate Diagnostic provides WTW clients with the ability to instantly generate in-depth Task Force on Climate-Related Financial Disclosures (TCFD) reports from their own collected data.
WTW said that the tool is adapting to an increase in TCFD reporting, as well as “the ever-growing need for transparency.” In line with the latest regulatory guidance, the tool is also described to address a growing need for “a consistent framework and set of standards for climate-related reporting alongside comparable metrics.”
“As companies seek to better understand their climate exposure and develop risk management strategies, WTW has developed a comprehensive visual representation of a business’s risk, powered by the client’s own data and analytics,” said Andy Smyth, head of GB risk and analytics at WTW. “With unmatched precision and based on individual requirements, WTW will provide clients with an essential integrated tool as they look to bolster their climate resilience.”
The Climate Diagnostic tool first launched in April 2021. It is part of a range of products and services designed by WTW for climate risk management, helping organisations accomplish climate-risk disclosure requirements and develop a more strategic response to climate change.
WTW will be showcasing this market-leading change to Climate Diagnostic on June 6 and 7, during Airmic in Liverpool.