IBM and The Climate Service to Work Together with Financial Institutions and Corporations to Assess the Cost of Climate Risk

Collaboration to Provide Organizations an IBM Cloud-based Platform to Measure, Quantify and Disclose Climate Risk ARMONK, N.Y. and DURHAM, N.C., Oct. 14, 2020 /PRNewswire/ — IBM (NYSE: IBM) and The Climate Service (TCS), a leader in climate risk analytics for investors and businesses, today announced their alliance to work with financial institutions and corporations to better measure and quantify risks associated with climate change. As part of the alliance, the companies are now making the TCS Climanomics® software platform available via Red Hat OpenShift on IBM Cloud. This alliance between IBM and TCS makes TCS’s advanced science available with enterprise-grade levels of scalability, availability, security, and interoperability. The companies are working together to help organizations put a price on climate risk and facilitate reporting consistent with the Task Force on Climate-Related Financial Disclosures (TCFD) framework. The alliance will also leverage the experience of IBM Services in financial risk, analytics, weather risk, and compliance, to use the Climanomics® platform to provide climate risk analytics to clients across all sectors, including global financial services leaders, industrial corporations, and energy providers. “At a time when markets and investors are demanding climate risk transparency and quantification, IBM is committed to providing cloud-based climate risk solutions to the financial services sector and critical infrastructure industries such as industrial, consumer, energy, and utilities,” said Dr. Murray Simpson, IBM’s Global Lead for Sustainability, Climate & Transition. “This collaboration with The Climate Service will provide clients financial insights that are based on the most advanced available science and technology. As we work with clients to integrate critical insights into their business decision-making, our goal is to inform their strategy and help them remain competitive and resilient.” “With the TCFD framework now supported by organizations globally, demand for the Climanomics® platform has been growing fast,” says James McMahon, CEO of The Climate Service. “With IBM’s advanced technology and global experience, this work will scale quickly so we can accelerate progress on our mission to embed climate risk into global decision-making.” “Climate change presents the markets, as well as society as a whole, with an exponential challenge. Through this collaboration we will offer solutions using the power of world-class science and technology,” continued McMahon. IBM and TCS signed their alliance agreement in October 2019, and the two companies have been collaborating for the past year, building a go-to-market strategy. This announcement is made on the heels of the collaboration reaching several milestones that enabled the TCS Climanomics® software platform to be available on Red Hat OpenShift on IBM Cloud, as well as the commencement of a joint effort to find ways to help global financial and energy companies measure climate risk. About The Climate ServiceThe Climate Service provides climate risk analytics to investors and businesses. With support from an unparalleled scientific team and advisors including four IPCC Nobel Prize-winning scientists, The Climate Service built its Climanomics® analytics platform to enable reporting and disclosure consistent with the TCFD framework. The platform empowers decision-making by putting a price on both transition and physical risk and supports long-term, strategic planning with ‘one-click’ property/asset and portfolio-level analysis, and multiple climate scenarios covering present-day to the year 2100. Insights from the platform help investors and businesses manage risk, build resilience, and drive change. Forrester Research named The Climate Service as “Leader”, the highest designation possible, in its Climate Risk Analytics New Wave 2020. Contacts:Chris AndrewsIBM Communicationscandrews@us.ibm.com  Julianne HoganJulianne@benecomms.io Disclaimer This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are available in every country in which IBM operates.It is the user’s responsibility to evaluate and verify the operation of any other products or programs with IBM products and programs. IBM products are warranted according to the terms and conditions of the agreements under which they are provided. SOURCE IBM

Collaboration to Provide Organizations an IBM Cloud-based Platform to Measure, Quantify and Disclose Climate Risk

ARMONK, N.Y. and DURHAM, N.C., Oct. 14, 2020 /PRNewswire/ — IBM (NYSE: IBM) and The Climate Service (TCS), a leader in climate risk analytics for investors and businesses, today announced their alliance to work with financial institutions and corporations to better measure and quantify risks associated with climate change. As part of the alliance, the companies are now making the TCS Climanomics® software platform available via Red Hat OpenShift on IBM Cloud.

IBM Corporation logo. (PRNewsfoto/IBM)

This alliance between IBM and TCS makes TCS’s advanced science available with enterprise-grade levels of scalability, availability, security, and interoperability. The companies are working together to help organizations put a price on climate risk and facilitate reporting consistent with the Task Force on Climate-Related Financial Disclosures (TCFD) framework.

The alliance will also leverage the experience of IBM Services in financial risk, analytics, weather risk, and compliance, to use the Climanomics® platform to provide climate risk analytics to clients across all sectors, including global financial services leaders, industrial corporations, and energy providers.

“At a time when markets and investors are demanding climate risk transparency and quantification, IBM is committed to providing cloud-based climate risk solutions to the financial services sector and critical infrastructure industries such as industrial, consumer, energy, and utilities,” said Dr. Murray Simpson, IBM’s Global Lead for Sustainability, Climate & Transition. “This collaboration with The Climate Service will provide clients financial insights that are based on the most advanced available science and technology. As we work with clients to integrate critical insights into their business decision-making, our goal is to inform their strategy and help them remain competitive and resilient.”

“With the TCFD framework now supported by organizations globally, demand for the Climanomics® platform has been growing fast,” says James McMahon, CEO of The Climate Service. “With IBM’s advanced technology and global experience, this work will scale quickly so we can accelerate progress on our mission to embed climate risk into global decision-making.”

“Climate change presents the markets, as well as society as a whole, with an exponential challenge. Through this collaboration we will offer solutions using the power of world-class science and technology,” continued McMahon.

IBM and TCS signed their alliance agreement in October 2019, and the two companies have been collaborating for the past year, building a go-to-market strategy. This announcement is made on the heels of the collaboration reaching several milestones that enabled the TCS Climanomics® software platform to be available on Red Hat OpenShift on IBM Cloud, as well as the commencement of a joint effort to find ways to help global financial and energy companies measure climate risk.

About The Climate Service
The Climate Service provides climate risk analytics to investors and businesses. With support from an unparalleled scientific team and advisors including four IPCC Nobel Prize-winning scientists, The Climate Service built its Climanomics® analytics platform to enable reporting and disclosure consistent with the TCFD framework. The platform empowers decision-making by putting a price on both transition and physical risk and supports long-term, strategic planning with ‘one-click’ property/asset and portfolio-level analysis, and multiple climate scenarios covering present-day to the year 2100. Insights from the platform help investors and businesses manage risk, build resilience, and drive change. Forrester Research named The Climate Service as “Leader”, the highest designation possible, in its Climate Risk Analytics New Wave 2020.

Contacts:
Chris Andrews
IBM Communications
candrews@us.ibm.com 

Julianne Hogan
Julianne@benecomms.io

Disclaimer
This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are available in every country in which IBM operates.
It is the user’s responsibility to evaluate and verify the operation of any other products or programs with IBM products and programs. IBM products are warranted according to the terms and conditions of the agreements under which they are provided.

SOURCE IBM

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These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including, but not limited to, the following: a downturn in economic environment and client spending budgets; the company's failure to meet growth and productivity objectives; a failure of the company's innovation initiatives; damage to the company's reputation; risks from investing in growth opportunities; failure of the company's intellectual property portfolio to prevent competitive offerings and the failure of the company to obtain necessary licenses; cybersecurity and data privacy considerations; fluctuations in financial results; the possibility that the proposed separation of the Managed Infrastructure Services unit of the company's Global Technology Services will not be completed within the anticipated time period or at all, the possibility of disruption or unanticipated costs in connection with the proposed separation or the possibility that the separation will not achieve its intended benefits; impact of local legal, economic, political, health and other conditions; adverse effects from environmental matters, tax matters and the company's pension plans; ineffective internal controls; the company's use of accounting estimates; impairment of the company's goodwill or amortizable intangible assets; the company's ability to attract and retain key employees and its reliance on critical skills; impacts of relationships with critical suppliers; product quality issues; impacts of business with government clients; currency fluctuations and customer financing risks; impact of changes in market liquidity conditions and customer credit risk on receivables; reliance on third party distribution channels and ecosystems; the company's ability to successfully manage acquisitions, alliances and dispositions, including integration challenges, failure to achieve objectives, the assumption of liabilities, and higher debt levels; legal proceedings and investigatory risks; risk factors related to IBM securities; and other risks, uncertainties and factors discussed in the company's Form 10-Qs, Form 10-K and in the company's other filings with the U.S. Securities and Exchange Commission (SEC) or in materials incorporated therein by reference. 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"We're currently leveraging IBM's AI through The Weather Channel, an approach that helps us use data to create meaningful and respectful experiences with consumers in the moments they need us most," said Rand Harbert, Executive Vice President and Chief Agency, Sales & Marketing Officer, State Farm. "IBM has evolved from an advertising partner to an AI partner, enabling us to help our customers and prospective customers better prepare and respond during life events." "The advertising industry is undergoing rapid change and we're infusing AI into our platform to better equip independent publishers in a sea of walled gardens," said Tom Kershaw, CTO, Magnite. "We're proud to stand with IBM, a company rooted in advanced technology, to deliver on the promise of an open web and solve the mounting challenges facing independent publishers."  "Across WPP, we are committed to helping our clients navigate the disruptive trends that have been building for some time," said John Dunleavy, Global President, Eightbar. "We've seen firsthand the important role AI can play in mitigating bias and making data useful so that every constituent - brands, content owners and most importantly consumers - can have authentic, relevant and meaningful interactions." "The opportunities for AI are immense--and we're already seeing real value within the retail and consumer packaged goods (CPG) industry," said Arun Ramaswamy, Chief Technology Officer, Global Consumer Business, Nielsen. "AI algorithms have vast potential to reinvigorate the brand-consumer trust dynamic by leveraging mathematical techniques that remove biases in the data consumers provide before they lead to improper results and interpretations. And within an open, cloud-based ecosystem, having the right, robust, high-quality data fueling AI is paramount to better understand and predict purchasing habits, and thereby inform marketing and advertising efforts." "AI technologies are transforming organizations and freeing up employees to do higher-value work," said Victoria Petrock, Principal Analyst, Emerging Technology, Insider Intelligence. "For marketers and advertisers, AI is already disrupting core functions, including ad targeting, media buying, content creation and propensity modeling." "Data is the key to increasing engagement across platforms that deliver premium content," said Grant Ries, SVP of Marketplaces & Emerging Business at LiveRamp. "We're thrilled to connect our Marketplace with IBM AI to deliver actionable insights, at scale, across the ecosystem in order to help partners thrive in an undefined future. As the digital marketing industry evolves, it's more essential than ever to rely on trusted partners to preserve the integrity of the open web." "AI is no longer an emerging technology, it's here, now and the digital ecosystem must lean in to realize its full value beyond media buying and selling," said David Cohen, CEO, IAB. "I am thrilled to see IBM, with its deep roots in artificial intelligence, take on a leadership role to develop CTV and attribution solutions for the next generation marketplace." "It's in our DNA to empower our clients and partners with the tools to establish deep and trusted connections with consumers at scale," said Joe Zawadzki, founder and CEO, MediaMath. "As inveterate champions of the power of math and science in marketing, we are eager to usher in a new era of enterprise applications into our industry and are excited to expand our partnership with IBM to introduce their world-class capabilities to an open web that keenly needs them." "We're thrilled to help power IBM Watson Advertising with our Bidder-as-a-Service™ platform," said Ari Paparo, Co-Founder & CEO, Beeswax. "It's exciting to help IBM Watson unlock AI-driven, predictive dynamic creative for more relevant advertising that gets smarter over time." "As a company that has been integrating IBM Watson into our platform for over five years, our team at Influential has seen, firsthand, how crucial AI is in identifying the right influencers, targeting audiences, and delivering content at scale," said Ryan Detert, Chief Operating Officer, Influential. Statements regarding IBM's future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only.  About IBM Watson:Watson is IBM's AI technology for business, helping organizations to better predict and shape future outcomes, automate complex processes, and optimize employees' time. Watson has evolved from an IBM Research project, to experimentation, to a scaled set of products that run anywhere. With more than 30,000 client engagements, Watson is being applied by leading global brands across a variety of industries to transform how people work. To learn more, visit: https://www.ibm.com/watson. Contact:Megan Levinsonmegan.levinson@ibm.com SOURCE IBM