On this episode of The Manufacturer Podcast, Iggy Bassi, the CEO and Founder of Cervest, discusses how technology, science and data forecasting can play a critical role in making better informed business decisions when it comes to climate change.
Cervest has developed cloud-based Climate Intelligence to empower enterprises, governments and financial services companies to manage and adapt to climate risk at an asset-level
Iggy talks to Tom St John about the role of manufacturers in the attempts to mitigate the climate crisis, and tells us about Cervest’s climate intelligence platform Earthscan, which is driven by Earth Science AI – a pioneering technology.
This quantifies uncertainty across climatological and statistical models, blends signals from complex datasets, and then scales them to resolutions that matter to decision makers.
According to the World Economic Forum, the manufacturing industry in Europe emits 880 million tonnes of carbon dioxide equivalents each year, making it one of the largest emitters of greenhouse gases on the continent.
Considering this footprint, manufacturing will be significantly impacted by any future climate change regulatory regime. The sector must act now and begin to confront the risks and opportunities that climate change presents. This includes awareness of and engagement in the national policy debate, as well as examining how climate can be factored into core business strategies.
What it means to be truly climate intelligent
“For the bulk of this century, we’re going to see greater climate volatility. Becoming climate intelligent is to detect that volatility early and think about your adaptation and how you can decarbonise along the way as well. Climate intelligence is just like business intelligence; you use it to make better, more informed decisions and ultimately think about risk adjusted growth as much as you can.
What businesses should consider when it comes to managing their climate risk
“They should think about locational risks when putting up new factories. They should think about supply chain risks. How do they codify that into their planning? In the same way that you look at political risks, you should be looking at climate risks when it comes to locations. Business owners should be asking themselves:
What is the biggest risk I will face?
What is going to happen to my operational resiliency?
How do I think about businesses continuity?
How do I think about geo-concentration over time?
Which of my assets have seen the most amount of risk acceleration over the last 3 or 4 decades?
How a climate intelligence platform such as Earth Scan can help
“This is a climate intelligence platform which gives you asset-level analysis and insight to make better decisions today for a more resilient tomorrow. Earth Scan allows on-demand analysis of the risks posed by a changing climate and allows you to understand climate risks underpinning the assets you value most. Going back 50 years and looking ahead 80 years, it provides critical insight into acute and chronic risks such as flooding, droughts and extreme temperatures to help you baseline, monitor and forecast climate risk on your assets and make confident decisions.”
Listen to the full podcast here to find out more
For related content, visit the Sustainability section of The Manufacturer’s website.
Image courtesy of Cervest