OS Climate launches climate planning tools for companies and investors

A GE 1.6-100 wind turbine (front R) is pictured at a wind farm in Tehachapi, California June 19, 2013. REUTERS/Mario Anzuoni

LONDON, July 20 (Reuters) – OS Climate, a nonprofit, on Wednesday launched the first in a series of free tools to support climate-friendly decision-making by businesses, financial institutions and governments .

As a project of the Linux Foundation, a nonprofit technology consortium founded in 2000 that creates open-source software, OS Climate aims to help fill the data gaps that currently prevent capital from flowing to the right projects.

He hopes the first three tools can be used to help channel the more than $5 trillion in annual climate investment spending that the International Energy Agency says is needed to achieve net-zero emissions.

“These tools will generate the refined data and actionable insights needed by pension funds, asset managers and banks to quickly align their investments and lending with net zero and resilience goals,” said Truman Semans, CEO from OS Climate.

Academics, non-profit organizations and others can also access the data and use it to conduct their own research.

The Physical Risk & Resilience tool, the development of which was led by French lender BNP Paribas (BNPP.PA), will allow non-financial stakeholders to assess the climate resilience of assets using its models.

The Climate Portfolio Alignment tool, developed by German insurer Allianz (ALVG.DE) and technology company Red Hat, will help stakeholders align their investments with the global goal of limiting global warming to 1.5 degrees Celsius .

The transitional analysis tool, developed by aircraft manufacturer Airbus (AIR.PA), will help companies model, test and perform scenario analyzes to help inform strategic decision-making.

“This platform could be a real game-changer. The Linux Foundation’s approach is the only one capable of creating public goods that serve a wide range of public interests,” said Robert Litterman, former chairman of the commission on the climate from the Commodity Futures Trading Commission (CFTC). Market Risk Sub-Committee.

Reporting by Simon Jessop; Editing by Alison Williams

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