HDI Global launches new service ‘Climate Risk Reporting’
HDI Global supports clients in meeting their regulatory requirements with tailored service
In the face of climate change, businesses are increasingly confronted with location-specific physical climate risks that threaten their business success and future viability. In addition, they have an obligation to comply with legal requirements and regulations related to these risks, which also requires specialized expertise.
Therefore, HDI Global is introducing the innovative service “Climate Risk Reporting” to the market. The solution enables companies to analyse their physical climate risks at their locations and assess them according to the EU Taxonomy guidelines.
The new service from HDI Risk Consulting GmbH, a wholly owned subsidiary of HDI Global SE, not only highlights the severity of climate risks but also provides specific data such as water depths, maximum temperatures, and duration of heatwaves, allowing companies to take targeted risk improvement measures for their locations. In addition to protecting existing locations, the climate risk data is also suitable for decision support in investments and the selection of new locations. This highlights HDI Global’s decades of in-house expertise in natural hazard analysis and sets new standards for the analysis and management of climate risks.
Climate Risk Reporting supports customers who since the beginning of 2024 fall under the reporting obligation as part of the Corporate Sustainability Reporting Directive (CSRD) and the EU Taxonomy. Using a grid of around 30 potential physical climate risks, HDI Global assigns customers’ locations to a six-level scale. For the service, the industrial insurer expands its database with the help of partner Mitiga Solutions, whose scientifically validated data is based, among other things, on the commonly used climate change models according to IPCC. The service follows the guidelines of the EU Taxonomy and supports reporting on climate risks as well as more precise and faster due diligence reviews of investments. By being able to evaluate future risks, it also serves as decision support in location planning. Therefore, customers not only benefit from bureaucratic simplification but also receive valuable support in actively preparing for future climate change challenges.
Professional analysis of modelled data for scenario forecasting
The market launch of Climate Risk Reporting underscores HDI Global’s strategic focus on multiple levels. HDI Risk Consulting’s climate risk analysts evaluate the individual risk situation at their customers’ locations. As a service provider, the company is proactive in helping to minimize potential risks and strengthen operational resilience. With its global presence in over 175 countries, HDI Global can offer the service to customers worldwide in the future. Furthermore, the introduction of Climate Risk Reporting once again demonstrates HDI Global’s digital expertise and highlights how leading insurers must be skilled in handling modelled data.
Legally compliant reporting for individual customer requirements
“With our Climate Risk Reporting service, we are setting a new standard in the insurance industry,” explains Dr Dirk Höring (pictured), member of the HDI Global SE Executive Board, responsible for Property Insurance, Engineering Insurance, Marine Insurance, and HDI Risk Consulting. “We are proud of our approach to act as a true Partner in Transformation. We not only highlight risks but also provide recommendations for action on how our customers can mitigate risks and seize opportunities.”
For further information about the services offered by HDI Risk Consulting, please CLICK HERE
Authored by HDI Global
