Data is important, more important than we typically realize in the moment. Hindsight and history shines the light on the value data brings to the party. This topic came to us from Fund Europe in their article, “Data is biggest challenge to climate risk, finds report.”
In 2020, the earth’s surface temperature was around 0.98 Celsius degrees warmer than the 20th-century average. In the last few years, global temperatures have been consistently among the hottest on record. A lack of data availability is the single biggest obstacle facing financial services firms in their effort to manage climate change risk.
According to a recent survey, the vast majority (80%) cited data as their top concern in the transition to a net zero economy while difficulty in making quantitative assessments (75%) and insufficient expertise (62%) also featured highly.
As global temperatures continue to rise, there is more pressure on everyone, to factor climate change into their decision-making.
Melody K. Smith
Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.