SAN MATEO, Calif., Jan. 28, 2021 (GLOBE NEWSWIRE) -- Jupiter, the global leader in climate analytics for resilience and risk management, announced today a series of milestones from the past year, including a new climate analytics platform that provides global coverage, resilience work with new enterprise clients, and innovations that will propel the company’s growth in 2021.
Despite the impact of the global pandemic, Jupiter added several new marquee customers in the past year, including insurance leaders Liberty Mutual and Zurich Insurance Group, along with world leaders in diverse sectors such as financial services, pharmaceutical and mining. These organizations join Jupiter’s growing list of customers, including energy leaders BP, ConEd, Hawaiian Electric Companies and Terna; insurance providers QBE and MS&AD; leading reinsurance risk investment manager Nephila, and public sector partners and customers including New York City, the City of Miami, the Department of Housing and Urban Development, Broward County (FL), and NASA.
In August, Jupiter launched ClimateScore Global™, a next-generation climate risk analytics tool providing physical risk assessment for any point on the land surface of the planet through the year 2100. Designed to support decision-making across a wide range of industries, ClimateScore Global predicts future physical risk from flooding, extreme heat, high wind, drought, wildfire, hail, and extreme precipitation. ClimateScore Global, currently in its third generation, is continually updated to support the most recent climate data and science.
“2020 dramatically highlighted the world’s vast unpreparedness for emerging risks like pandemics and climate change, and it's urgent that everyone accelerate their preparation for the global disruptions to come,” said Rich Sorkin, CEO of Jupiter. “Our momentum as we enter 2021 shows that the business world is beginning to catch on, and ClimateScore Global can immediately help them quantify their risk.”
Jupiter was recently recognized as a 2021 Global Cleantech 100 company and a winner of the 2020 Zurich Innovation Championship. The company also welcomed acclaimed climate-change adaptation expert Jesse Keenan as an advisor in 2020. New resilience use cases for Jupiter’s climate analytics in 2020 included:
- A leading global asset manager is using Jupiter’s data and analytics to define resiliency opportunities for their most climate-vulnerable real estate assets
- A leading US utility assessed flood risk at key power sites using Jupiter’s analytics and modeled risk engineering improvements that yielded insurance benefits due to hardening the design
- Jupiter supported the Hawaiian Electric Company in the resiliency pillar of its Integrated Resource Plan, and continues to support HECO's implementation plans
- The Business Continuity team of a major financial institution is using Jupiter’s analytics to model the impacts of future flood conditions in the Boston area
- Jupiter is working with a leading pharmaceutical company to assess the climate risk of its manufacturing plants and supply chain, today and in the future
“2020 has demonstrated that the private sector has much work to do to prepare for not only extreme events, but also to address the chronic stress of climate change as it increasingly challenges the financial health of the global economy. Climate impacts are now manifested as systematic risks that undermine the stability of financial markets, as highlighted in the recent report from the Commodities Future Trading Commission (CFTC),” Keenan said. In 2020, Jupiter’s analytics were cited in the landmark CFTC publication on climate risk, as well as the special reports of the U.S. House and Senate Committees on the climate crisis. Jupiter continues to support the ongoing case studies of the Coalition for Climate Resilient Investment and the preparatory work for the upcoming COP 26 in the U.K.
Jupiter Anticipates Biden Administration
Jupiter looks forward to the Biden Administration's investments and policies in science, greenhouse gas reduction and resilience.
“The science of climate change sometimes gets lost in the passions of political debate, despite the clearly visible fact-based reality,” Sorkin said. “The Biden administration is re-engaging on climate-related issues, and Jupiter, as the undisputed leader in the field of climate risk analytics, will play a key role.”
About Jupiter
Jupiter is the global leader in data and analytics services to make informed decisions to anticipate risk from extreme weather, sea-level rise, storm intensification and rising temperatures caused by short, medium and long-term climate change. Jupiter’s ClimateScore™ Intelligence Platform provides sophisticated, dynamic, hyper-local, current- hour-to-50-plus-year probabilistic risk analysis for weather in a changing climate. The company’s FloodScore™, HeatScore™, WindScore™, FireScore™, and ClimateScore Global™ services are used for climate-related risk assessment and management worldwide. Jupiter’s models are based on the latest science, as developed by the global Earth and Ocean Systems science community.
Jupiter offers commercial services to asset owners in critical infrastructure, financial services (including insurance, banking and asset management), energy and real estate, and the public sector. These customers use Jupiter services for a broad range of applications, including capital planning, risk management, site selection, design requirements, supply chain management, investment and asset valuations, and shareholder disclosures. For more information, please visit jupiterintel.com.
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