CoreLogic New Zealand today announced its support of the New Zealand Government’s introduction of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill, which looks to formalise the reporting requirements around climate-related risks in the financial sector.
The global property data and analytics powerhouse has already been ramping up its local commitment to help the banking, investment and insurance sectors effectively identify, assess and manage climate-related risks, leveraging its long history of providing catastrophe event insights in the US.
Speaking about the announcement, CoreLogic NZ Country Manager Simone Moors, says “Climate change presents systemic risks to the New Zealand economy, so engagement with and collaboration across the industry is pivotal to ensuring the financial sector is well equipped to not only understand, manage and report on these risks, but also to contribute to the net zero emissions transition with data-based knowledge.
“CoreLogic NZ is already well underway in developing and providing unique solutions to help the industry prepare for and respond to this legislative development. Backed by our years of global capability combined with our local team’s deep industry and product expertise, our strategic partnership with Munich Re and membership of Investor Group on Climate Change, we are committed to assisting the financial services, banking and insurance sectors at large assess current and future impacts of climate change to their physical assets and portfolios and support preparation of reporting requirements,” says Ms Moors.
Combined with CoreLogic’s depth and breadth of data on physical real assets at risk and analytical capabilities, the organisation’s Climate Change and Hazard Risk Modelling solutions including Ambiental flood data and Munich Re modelling are market-leading solutions in the climate risk space.