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Everstream Analytics Unveils Climate Risk Scores for Supply Chains

Risk Analytics

Everstream Analytics, Announced, Climate Risk

Business Honor
31 October, 2024

Everstream Analytics introduces Climate Risk Scores, helping businesses predict and manage climate risks effectively.

Everstream Analytics, a global leader in supply chain insights and risk analytics, today announced the availability of its Climate Risk Scores capability. This innovative capability is the first of its kind in the industry, allowing companies to measure and forecast the impact of climate risks on their supply chains.

As extreme weather events and increasing global temperatures continue to disrupt businesses around the globe, Everstream's new tool helps organizations understand and prepare themselves for rising climate risks. The Climate Risk Scores platform gives clients the power to evaluate the probable climate impacts by offering eight critical climate indicators: tropical cyclones, river floods, sea-level rise, heat, fire weather, cold, drought, and precipitation. These indicators were incorporated into Explore, Everstream's strategic supplier risk assessment application, which runs IPCC data, allowing for the derivation of projections related to specific location-based inputs.

According to Chief Meteorologist Jon Davis of Everstream Analytics, "As temperatures and extreme weather events continue to rise, businesses can no longer ignore the impact of climate change on their operations and suppliers." The new Climate Risk Scores feature, he said, is designed to help organizations understand the full range of possible outcomes, from low to high impact, and make data-driven decisions proactively to mitigate risks.

The Climate Risk Scores offer risk projections about critical events and natural disasters, through 2040, 2050, and 2100, offering multi-scenario forecast scenarios that can guide future planning. Building on these projections, companies can integrate climate insights into their operations through APIs to improve decision-making and minimize disruption.

Paige Cox, Chief Product Officer at Everstream, said, "Understanding vulnerabilities at production sites is critical, particularly as companies onboard new suppliers. This industry-first capability will empower companies to build resilient supply chains and stay ahead of climate-related risks, giving them a competitive edge and ensuring long-term operational continuity."