Data ReFined #42: How Prepared Are Financial Institutions For Physical Climate Risks?
⛅ Data ReFined is dClimate's biweekly newsletter, delivering the latest insights on carbon finance in the voluntary carbon market (VCM), climate risk management, and climate intelligence.
In this edition:
Carbon Finance & Digital MRV
🌳 The 2024 Forest Declaration Assessment Report
🌳 The State of Web3 Technology in the Carbon Market
🌳 African Carbon Markets
🌳 Insights from VCM Day
Climate Risk Management
🛡️ Financial Institutions and Physical Climate Risks
🛡️ How are the World’s 50 Largest Banks Tackling Climate Adaptation?
🛡️ Hurricane Helene Highlights Insufficient Flood Insurance in High-Risk Areas
Climate Data & Intelligence
🌎 NOAA's Data Center Affected by Hurricane Helene
🌎 ERA5 Datasets Now Available in Post-Processed Daily Statistics
Scroll down for our summaries of this news! 👇
Subscribe here and join over 4000+ readers!
The 2024 Forest Declaration Assessment Report
Despite 2023 efforts, global deforestation targets remain unmet. A recent report reveals that an area of forest the size of Latvia was lost in the past year. Although tropical regions are still heavily impacted, Brazil's rate of deforestation has shown some improvement.
The report highlights both challenges and opportunities for future forest protection, conservation, and restoration efforts.
supportdonny.vip
The State of Web3 Technology in the Carbon Market
A recent article from Mercy Corps Ventures highlights the increasing role of blockchain technology in the carbon market. Web3 infrastructure can enable transparent and high-integrity project data, improving trust in carbon credits. Read more
African Carbon Markets
The Africa Carbon Markets Initiative (ACMI) aims to improve the integrity and facilitate growth of the African carbon market. In pursuit of this objective, ACMI recently established partnerships with organizations such as the Voluntary Carbon Markets Integrity Initiative (VCMI), the Integrity Council for the Voluntary Carbon Market (ICVCM), and the International Emissions Trading Association (IETA). Read more
Insights from VCM Day
The 2024 VCM Day was an event at Climate Week NYC co-hosted by three key organizations in the voluntary carbon market: ICVCM, VCMI, and GCMU. The event focused on accelerating the development of high-integrity credits in the VCM, highlighting the need for robust market infrastructure and transparency to ensure meaningful emissions reduction and capital flows. Read more
Financial Institutions and Physical Climate Risks
As climate risk becomes increasingly apparent, central bankers and financial regulators face the challenge of adapting to a new reality where extreme weather events are more frequent and costly. This requires updating their risk models and tools to account for the increased frequency and severity of natural disasters and climate-related financial risks.
Find more insights in the Financial Times article:
Sabine Mauderer
How are the World’s 50 Largest Commercial Banks Tackling Climate Adaptation?
A recent survey by Climate X found that most of the large global banks are unprepared for climate change risks, with only 12% of the top 50 commercial banks demonstrating a high level of climate adaptation maturity. The report evaluated banks based on 17 key indicators and revealed that U.S. banks ranked lowest in climate adaptation maturity. Read more
Hurricane Helene Highlights Insufficient Flood Insurance in High-Risk Areas
Hurricane Helene and Milton have left many Americans struggling with the aftermath, as flood damage coverage is typically separate from U.S. home insurance policies. The recent hurricanes showcase the need for more comprehensive flood insurance solutions and greater awareness of the risks associated with natural disasters. Read more
NOAA's Data Center Affected by Hurricane Helene
The devastation caused by Hurricane Helene's path, which disrupted NOAA's data center in Asheville, highlights the vulnerability of centralized systems in the face of extreme weather events. The data center outage emphasizes the importance of building resilient and distributed data infrastructure to guarantee continuous access to critical climate information.
Read the article below for more details:
ERA5 and ERA5-Land Datasets Now Available in Post-Processed Daily Statistics
Copernicus has released a daily time step variant of the ERA5 and ERA5-Land datasets, offering a more accessible and streamlined alternative to the previous hourly data. This post-processed version reduces file sizes and processing times, making it easier for users to access and analyze climate data. Read more
Thank You For Reading Our Newsletter! 💙
We greatly appreciate your interest and support! If you enjoyed this newsletter, please consider forwarding it to your network to increase awareness of these critical climate topics.
About dClimate
dClimate’s decentralized and open climate data infrastructure powers a wide range of applications, including climate risk assessments, parametric insurance, and climate intelligence platforms for carbon and commodity markets.
⛅ Visit our website | 📊 Discover our products
Join the dClimate Community!
We welcome your comments, feedback, and likes. Follow us on the channels below to stay updated and start building in our decentralized climate data ecosystem. 👇
