Skip to main content

Climate-KIC start-up MeteoProtect issues white paper

Climate-KIC start-up MeteoProtect issues white paper

MeteoProtect, a French start-up from the Climate-KIC Accelerator Programme, has issued a new white paper about climate change and protection and its consequences on business, finance and agricultural production.
 

MeteoProtect identifies a company’s or institution’s weather sensitivities and offers index-based financial products that provide protection when weather conditions adversely impact business or profits or generate additional costs.

MeteoProtect highlighted in their white paper that '70% of firms in industrialised countries are exposed to everyday weather anomalies for a total amount of sales ranging from 25-35% of annual Gross Domestic Product'. This means that 'unfavourable everyday weather can destroy up to $500bn in the United States and €400bn in Europe each year'.

The agricultural sector has known more frequent extreme weather events such as droughts, reducing gradually the production over the past 40 years. According a survey led by MeteoProtect and ESSCA School of Management, 85% of risk Managers across Europe agreed that weather had an impact on their business. With climate change, 'investors see more weather-related profit warnings, and have a greater difficulty reading underlying trends', mentions a Sustainability Research report from the financial analyst Kepler-Cheuvreux.

MeteoProtect offers a solution; WeatherRisk. With this modelling tool, a company can measure its exposition to weather variability risk in terms of potential losses, over a given period. WeatherRisk enable risk managers to elaborate scenarios to mitigate their risk and adapt their decisions to lower climate impact on their turnover.

For more information about MeteoProtect:
Terre-Net : L’assurance indicielle
Vimeo: MeteoProtect
YouTube: MeteoProtect
Read MeteoProtect's White Paper here