Wildfires across the tropical belt can cost economies billions of dollars, emit huge amounts of carbon, and destroy livelihoods. SYSTEMIQ is investing in Jupiter Intelligence: its predictive modelling and risk analytics can help the world to understand climate risks and prevent natural disasters. Irena Spazzapan, Georgina Fleming and Katherine Stodulka explain more.
SYSTEMIQ has invested follow-on capital into Jupiter Intelligence, the leading provider of predictive data and analytics for climate risk. The raise also includes strategic investors Liberty Mutual and MS&AD, two of the world’s leading property and casualty insurance companies.
Jupiter provides data and analytics services to help companies and governments make informed decisions that safeguard critical at-risk infrastructure from extreme weather, sea-level rise, storm intensification, and rising temperatures.
This solution has become of critical importance to companies and governments, who need to better understand their exposure to more frequent climate events to ensure they are investing in adaptation and resilience measures. Investors, regulators and ratings agencies are also grappling with the impact of physical climate risk on portfolios and are searching for tools which can help accurately predict future extreme weather conditions which cause fires, floods and storms.
“In light of ongoing threats to life and property stemming from hazards like worsening heat waves, storms and wildfires, it’s urgent for entire industries to anticipate their future risk from a rapidly changing climate,” said Rich Sorkin, CEO and Co-Founder of Jupiter. “With the support of our strategic investors, Jupiter will continue to deepen our analytics to help customers make complex financial decisions as they emerge from a global economic crisis.”
Jupiter will use the new capital to fuel the company’s rapid expansion of its operations and increase product development to meet the evolving needs of leading organisations in new geographies.
“As strategic investors, SYSTEMIQ is excited to work with Jupiter’s world-class team to bring their predictive modelling tools to climate-vulnerable countries around the world,” said Irena Spazzapan, Partner and Investment Lead at SYSTEMIQ. “We see major opportunities in the ability to predict and, therefore, prevent fires across the tropical belt, especially in South East Asia where peatland fires can cost the economy billions of dollars in one dry season, emit huge amounts of carbon and destroy lives and livelihoods. Jupiter’s world-leading physical risk analytics are critical to building resilience and safeguarding these economies for decades to come.”
SYSTEMIQ will be working with Jupiter Intelligence to help scale their solution to developing markets vulnerable to natural disasters with a focus on the tropical belt, which SYSTEMIQ has deep networks and expertise
“The need for Jupiter’s solution in these markets is more pressing than ever,” says Katherine Stodulka, Sustainable Finance Director at SYSTEMIQ, “at least 207 natural disasters were recorded in the first half of 2020, costing the world at least $75 billion. 95% of these events were climate and weather related, including deadly bushfires in Australia and devastating floods in Indonesia and Brazil.”
