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WTW Bolsters Climate Risk Services with latest Acquisition

With the acquisition of Scottish startup Butterwire, WTW has consolidated its position as the industry’s top supplier of climate risk analytics to businesses around the world.

David Nelson, senior director for climate transition analytics at WTW’s Climate and Resilience Hub, said, “We are thrilled that the highly skilled Butterwire team is joining WTW. They have been collaborating closely with our team for a while and bring tested skills that open up big opportunities. With this acquisition, we will be better able to provide our customers top-notch goods and services that will support their transition to a climate-resilient future.

A team of researchers, data scientists, and software engineering experts make up Butterwire, a provider of platforms for data analytics, artificial intelligence (AI), and machine learning. According to a statement from the insurance behemoth, these capabilities will enable WTW increase the scope of its investment and climate services, enabling clients to manage financial risks associated with climate change “at scale and speed.”

Raphael Fiorentino, CEO and founder of Butterwire, stated that “WTW is a global leader in risk management and this vote of confidence takes us to the next stage of our expansion.” “The potential that WTW’s acquisition of Butterwire presents is enormously exciting to me, and I look forward to continuing our collaboration with colleagues inside the Climate and Resilience Hub, which has already attained an unmatched breadth and depth of climate experience and skills.”

Butterwire has been a WTW partner for a while. Its software already uses the Climate Transition Value at Risk (CTVAR) methodology, a process that measures the effects of adherence to the Paris Agreement on equity and fixed-income valuations. It also provides the framework for WTW’s STOXX Climate Transition Indices (CTI), which were introduced in 2021 to support investors, governments, and businesses in achieving their net zero objectives.

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