BCG and Jupiter partner on climate risk analytics
Boston Consulting Group and Jupiter Intelligence, a provider of predictive data and analytics for climate risk and resilience, have announced a new collaboration.
As part of the partnership, BCG will incorporate Jupiter’s climate analytics into its ClimateImpact AI platform – leveraging enhanced data sources to provide customized insights for private and public sector clients.
Bolstered by Jupiter’s leading data and analytics, BCG will use its ClimateImpact AI platform to help clients assess transition and physical climate risks, prioritize areas of risk abatement, and evaluate risk/cost trade-offs to optimize business risk reduction at the lowest possible cost.
“To best serve our clients, BCG surveyed the entire climate analytics space and performed deep-dives on almost 20 specific climate data vendors,” said Mike Lyons, managing director and partner at BCG. “We’ve been very impressed thus far with our engagements with Jupiter, ranging from our initial collaboration discussions to joint business development to direct client service.”
According to BCG, there is growing consumer demand for greener products and services, tightening regulation on emissions and climate-risk disclosure, and increasing prominence of sustainability and climate resilience as points of differentiation.
Consulting firms have been working hard to launch and strengthen their fledgling ESG consulting units to meet client demand. Partnerships with specialist firms such as Jupiter is one avenue to enhance capabilities, while M&A is another. Rival consultancy McKinsey & Company last year acquired Planetrics, a climate analytics provider, as well as sustainability consultancies Vivid Economics and Material Economics.
“Our mission is to help increase resilience and manage risk by providing best-in-science solutions. We deliver climate risk analysis for multiple perils, steadily investing so that Jupiter is always on the cutting edge of data and analytics,” said Rich Sorkin, CEO of Jupiter. “We view BCG as a leader in the climate consulting space and highly complementary to Jupiter. BCG’s client impact will help the world become more resilient and we are excited to add value to their platform. This collaboration brings ongoing innovation to BCG’s platform, providing another important method for Jupiter’s data to meet client needs on the consulting front-lines.”
Based in Silicon Valley, Jupiter delivers physical climate analytics for risk management to leading corporations across industries as well as to US government agencies. Based on the latest science, the firm’s FloodScore, HeatScore, WindScore, FireScore, and ClimateScore Global services are used for climate-related risk assessment and management worldwide.
