Launch of mycris

Launch of mycris: An Innovative Tool for Preliminary Analysis of Physical Risks Related to Climate ChangeCarbone 4 is launching an innovative online tool to help companies assess their physical risks related to climate change. mycris enables the generation of preliminary risk scores based on a combination of a company’s vulnerability and exposure to climate-related hazards.

Storms, heat waves, droughts, and floods are becoming increasingly frequent around the globe. Their significant economic impacts are forcing companies to recognize the risks posed to their operations. According to the National Oceanic and Atmospheric Administration, extreme weather events cost more than $400 billion in 2017! To respond to this new reality, mycris, which operates on the basis of non-confidential information, immediately provides companies with an informative analysis that allows them to assess their level of risk in the face of climate change. mycrisprovides access to:

• A free demo version of the analysis tool
• A visual mapping of climate risks for the company in question
• Risk ratings for seven distinct climate hazards
• Risk assessments for two climate scenarios—one with low greenhouse gas emissions and one with high greenhouse gas emissions
• Tailored examples of the impacts of climate change on the relevant sectors
• A Detailed Methodological Guide
• A summary report tailored to the specific company

mycris is available at www.my-cris.com

The tool was tested by a group of beta users consisting of six international companies in the industrial, chemical, and energy sectors, as well as in the tourism sector (Club Med) and the transportation sector (Fundación Valencia Port). mycris is based on the established scientific methodology of CRIS, Climate Risk Impact Screening, developed by Carbone 4 and backed by major financial institutions, with the endorsement of a high-level scientific advisory board. The risk scores calculated by mycrisare rated on a scale from 0 to 99 (with 99 representing the sector/country pair that is most vulnerable and most exposed to climate-related hazards). This rating system makes it possible to quickly identify economic sectors and geographic areas at risk. For example, in the face of rising sea levels, the electricity sector is the most vulnerable in island nations such as Hong Kong, North and South Korea, Australia, and New Zealand (risk score of 99). Indeed, these countries are the most exposed to this climate hazard, and the electricity generation sector relies on long-term, specialized, and complex infrastructure that is most often located along the coast. A detailed explanation of the tool can be found here:https://youtu.be/DN9iTbiZ4OsClimate-KIC, the climate branch of the European Institute of Innovation and Technology (EIT), funded this project and facilitated the development of the tool.  Press Contact: Dorothée Coloby Tel: +33 (0)1 76 21 10 00 dorothee.coloby@carbone4.com

About Carbone 4

Founded by Alain Grandjean and Jean-Marc Jancovici, the Carbone 4 group supports economic and financial stakeholders in the transition to a low-carbon economy that is resilient to climate change.www.carbone4.comwww.carbon4finance.com