Howden, an international insurance intermediary, has unveiled the Howden Resilience Laboratory, a digital platform developed in partnership with Microsoft to help clients evaluate and manage climate risks. The Laboratory leverages Microsoft’s cloud services, including Azure and Dynamics 365, to transform complex climate data into actionable insights for businesses and investors.
By using advanced climate risk modeling, the platform enables asset owners and investors to understand the financial impacts of climate risks, design insurance strategies, and evaluate the benefits of resilience investments. It provides tailored scenario planning for strategic decisions like mergers, decarbonization efforts, and new market expansions. This data-driven approach aims to help organizations maintain expected returns and improve resilience to climate challenges.
The Laboratory also uses the Physical Climate Risk Assessment Methodology (PCRAM) developed by the Institutional Investors Group on Climate Change (IIGCC). This allows investors to model climate risks and assess the financial implications of potential resilience strategies, such as cash flow impacts.
During Climate Week NYC 2024, Howden and Microsoft will showcase the platform’s capabilities, demonstrating how real asset investors can evaluate climate risks pre-investment. According to Howden’s Chief Information Officer, Lyn Grobler, the platform empowers stakeholders to make informed decisions, protecting assets and accelerating the transition to a more resilient world.
Bill Borden, Corporate Vice President of Microsoft, emphasized that the collaboration is driving innovative ways to tackle critical climate issues, helping businesses achieve sustainability and long-term resilience.
