NEW YORK, Nov. 12, 2020 /PRNewswire/ -- S&P Global
Market Intelligence and Oliver Wyman announced today a
collaboration with Citi to support the financial institution's
commitment for a smooth transition to a low-carbon economy. Citi
will be utilizing Climate Credit Analytics, a pioneering climate
scenario analysis and credit analytics model suite, introduced by
S&P Global Market Intelligence and Oliver Wyman at Climate Week NYC 2020.
Climate Credit Analytics is designed to help financial
institutions and corporates assess how a transition to a low-carbon
economy will impact the creditworthiness of their counterparties.
Its underlying insights combine S&P Global Market
Intelligence's advanced Credit Analytics risk models and unique
datasets with Oliver Wyman's
industry-leading climate scenario and stress testing expertise.
"Climate Credit Analytics aligns with emerging regulatory
directives and will help enable the broader industry to better
analyze and manage climate risks while deploying capital to
underpin long term sustainable growth. Further advancing this
technology is common cause and very timely, we are delighted to be
working with such capable partners," said Colin Church, Citi's Head of Climate Risk
Management.
"This new tool will provide valuable rigor for analyzing our
client portfolios under different climate transition risk
scenarios, enabling us to build on our prior climate scenario
analysis work. Integrating this analysis will contribute to the
climate risk pillar of our Sustainable Progress Strategy and our
ongoing Task Force on Climate-related Financial Disclosures (TCFD)
implementation," said Eliza
Eubank, Citi's Head of Environmental and Social Risk
Management.
"Climate change is a non-traditional risk, and financial
institutions and corporates are working to understand its
implications. We have a deep legacy in credit analytics and we are
proud to work with Citi, a leader in this area, to collaborate on
creating integrated climate and credit-related analytics to
navigate the effects of climate risk on the financial markets,"
said Martina Cheung, S&P
Global Market Intelligence's President.
"We are delighted that Citi will be the first bank to utilize
Climate Credit Analytics. This unique solution to quantify climate
risks is readily customizable, incorporates the NGFS Scenarios, and
covers all corporate sectors, including major greenhouse gas
emitting sectors. Citi's commitment to environmental finance
exemplifies the critical role that financial institutions play in
combating climate change," said Oliver
Wyman's John Colas, Partner
and Vice Chairman, Financial Services Americas.
For additional information on Climate Credit Analytics,
please visit S&P Global Market Intelligence.
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we understand the
importance of accurate, deep and insightful information. We
integrate financial and industry data, research and news into tools
that help track performance, generate alpha, identify investment
ideas, perform valuations and assess credit risk. Investment
professionals, government agencies, corporations and universities
around the world use this essential intelligence to make business
and financial decisions with conviction.
S&P Global Market Intelligence is a division of S&P
Global (NYSE: SPGI), the world's foremost provider of credit
ratings, benchmarks and analytics in the global capital and
commodity markets, offering ESG solutions, deep data and insights
on critical business factors. S&P Global has been providing
essential intelligence that unlocks opportunity, fosters growth and
accelerates progress for more than 160 years. For more information,
visit www.spglobal.com/marketintelligence.
About Oliver Wyman
Oliver Wyman is a global leader
in management consulting. With offices in 60 cities across 29
countries, Oliver Wyman combines
deep industry knowledge with specialized expertise in strategy,
operations, risk management, and organization transformation. The
firm has more than 5,000 professionals around the world who work
with clients to optimize their business, improve their operations
and risk profile, and accelerate their organizational performance
to seize the most attractive opportunities.
Oliver Wyman is a business of
Marsh & McLennan Companies [NYSE: MMC]. For more information,
visit oliverwyman.com. Follow Oliver
Wyman on Twitter @OliverWyman.
Media Contacts
Amanda
Oey
S&P Global Market Intelligence
P. +1 (212) 438-1904
E. Amanda.Oey@spglobal.com
Francine Minadeo
Oliver Wyman
P. +1 (212) 345-6417
E. Francine.Minadeo@oliverwyman.com
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SOURCE S&P Global Market Intelligence