Persefoni, a prominent Climate Management & Accounting Platform (CMAP) for enterprises and financial institutions, and First Street, a leader in physical climate risk data, have announced a groundbreaking partnership.
This collaboration will integrate First Street’s advanced physical risk management capabilities into a novel offering on the Persefoni platform, enabling enterprises to seamlessly access location-based climate risk data for their assets.
The partnership arises from the increasing regulatory demands for enterprises to report physical climate risk information, driven by regulations from the U.S. Securities & Exchange Commission, California’s SB 261, CSRD, and other global regulatory bodies. It aims to streamline the reporting process while enhancing the accuracy of the reports, equipping enterprises with a powerful tool for comprehensive disclosure and preparation.
Persefoni excels in providing climate management solutions, while First Street specializes in delivering precise physical climate risk data. The integration of these services will offer property-specific physical risk data for U.S.-based assets, with plans to expand to global asset coverage in future releases. The new product is set to be available for purchase in Q4 2024, with most Persefoni customers able to leverage the new capabilities with minimal implementation effort.
Persefoni’s CEO and Co-founder, Kentaro Kawamori, stated, “Persefoni‘s commitment to product innovation is unwavering, acknowledged by esteemed research entities and valued by global partners. Integrating First Street’s physical risk data into our platform marks a pivotal stride towards our mission: crafting unparalleled carbon and climate solutions. This partnership fortifies our collective capabilities, empowering customers with indispensable data to navigate evolving carbon accounting standards.”
Matthew Eby, Founder and CEO of First Street, added, “Our collaboration with Persefoni represents a simplification for enterprise procurement, management and compliance with climate regulations. By embedding access to our data into Persefoni‘s comprehensive climate accounting platform, we’re providing a single solution for both physical risk and carbon accounting needs.”
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
Copyright © 2018 RegTech Analyst
