Challenges in quantifying physical risk to assets globally

As the physical processes of our world change, the landscape of risk has changed with it. At Climate X, we provide high-quality data to the financial sector so that evolving risks to global portfolios can be quantified. A crucial element of this is the physical risk from events, including extreme weather events. Traditionally risk assessments have been carried out at an asset level on small scales, with a dedicated team spending days on tens of assets. The high price and slow turnaround makes this unfeasible for large scale operations. We provide an alternative, leveraging open source datasets and research to estimate the physical risk to over half a billion buildings worldwide. This talk will highlight some challenges of working at this scale, and illustrate our approaches to resolving them.