Aon, Jupiter to jointly address climate volatility

Aon plc (Aon) a leading global professional services firm, has announced a collaboration with Jupiter, a leading provider of predictive data and analytics for climate risk management and resilience, that will assist global financial institutions in navigating the increasing volatility resulting from climate change.

Financial institutions in many jurisdictions are now expected by regulators to quantify, disclose and manage the climate-related financial risks that exist in their investment and loan portfolios. This new collaboration between Aon and Jupiter will calculate the range of potential impacts of climate change on financial institutions’ balance sheets, assisting them to identify risks and opportunities and to respond to the increasing volume, specificity, and quantification of climate regulations and disclosure requirements.

The collaboration aims to increase clients’ experience when engaging with Aon, while also having access to the firm’s catastrophe modeling and risk consulting capabilities. With such comprehensive service, financial institutions can re-evaluate capital needs, address volatility and build business resilience while satisfying regulatory requirements.

Joe Monaghan, global growth leader at Aon’s Reinsurance Solutions, said: “This collaboration is designed to enable financial institutions to make better business decisions by combining Aon’s capabilities in risk and holistic financial analysis with Jupiter’s leadership in climate risk analytics. We believe that such comprehensive analyses will become even more crucial to financial institutions understanding the impact of climate change while maintaining operational effectiveness and regulatory compliance.”