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Financial regulators around the world will soon be able to more easily assess the risks associated with climate change, the New York Times reports.
Singapore's Monetary Authority of Singapore and the Bank for International Settlements Innovation Hub in Singapore have come up with a blueprint for a new climate risk platform they say will help financial authorities "identify, monitor, and manage climate risks in the financial system."
The platform, called Project Viridis, will integrate regulatory and climate data to help authorities more easily identify, monitor, and manage climate risks.
For example, financial authorities will be able to more easily assess the physical risks associated with greenhouse gas emissions, as well as the financial risks associated with climate change, according to a press release.
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