WTW has announced that Climate Diagnostic, its global climate modelling tool, has been upgraded.
WTW clients may now generate in-depth Task Force on Climate-Related Financial Disclosures (TCFD) reports from their own collected data with the latest version of Climate Diagnostic.
The tool is evolving in response to an increase in TCFD reporting as well as “the ever-growing need for openness,” according to WTW. The tool is also characterised as addressing an increasing requirement for “a unified framework and set of standards for climate-related reporting alongside comparable measures,” as per the most recent regulatory guidelines.
WTW has built a full visual representation of a business’s risk, backed by the client’s own data and analytics, as organisations strive to better understand their climate exposure and build risk management plans, according to Andy Smyth, head of GB risk and analytics at WTW. “WTW will provide clients with a crucial integrated tool as they look to boost their climate resilience with unrivalled accuracy and based on unique requirements.”
In April 2021, the Climate Diagnostic tool was launched for the first time. It’s one of WTW’s climate risk management products and services, and it’ll help companies meet climate-risk disclosure obligations and establish a more strategic approach to climate change.
On June 6 and 7, WTW will present this market-leading change at Climate Diagnostic during airmic in Liverpool