Jupiter, a leading provider of data and analytics for climate risk, recently announced a collaboration with Boston Consulting Group (BCG), a consulting firm that operates in the climate risk space, to incorporate Jupiter’s climate analytics into BCG’s ClimateImpact.AI platform, strengthening source data and analytics to improve climate insights for BCG’s clients. The analytics firm, which has offices in Silicon Valley, Boulder, Colorado, and New York City, is launching an aggressive partnerships strategy to differentiate itself in an increasingly crowded analytics industry.
More and more, consumers are demanding that companies increase their focus on environmental, social, and governance (ESG) issues, seeking greener products and friendlier business models that focus on a more holistic view of society. Regulators are ratcheting up the pressure on companies to make good on their emissions pledges and climate-risk disclosures, and sustainability and climate resilience are becoming points of differentiation that can make a substantial difference in increasingly competitive markets.
BCG plans to integrate Jupiter’s data and analytics into its ClimateImpact.AI platform to segment a company’s value chain to examine what drives profits, identify transition and physical climate risks, uncover “value at risk” hot spots, and help clients prioritize risk abatement and make data-driven decisions to reduce business risks and costs.
As the world continues to face the growing impacts of climate change, from extreme weather events, to sea level rises, to historic megadroughts, it is becoming crucial that the public and private sector be well-prepared to manage the escalating risks. A recent report released by Deloitte at the World Economic Forum’s annual meeting has predicted that unchecked climate change could cost the global economy $178 trillion over the next 50 years.
Additional research by Oxford Economics and SAP has revealed substantial barriers to corporate sustainability plans, including a lack of communication and engagement by executives, ineffective use of data, siloed technologies that don’t take advantage of shared information or processes, and a lack of industry collaboration and partnership. Jupiter and BCG believe their collaboration will help combat those barriers, providing better data and more customized insights to clients seeking to help turn the tide of climate change.