CoreLogic today announced it has joined Investor Group on Climate Change (IGCC) Australia/New Zealand.
CoreLogic’s IGCC membership comes as the global property data and analytics powerhouse ramps up its commitment to help the banking, investment and insurance sectors effectively identify, assess and manage climate-related risks.
Milena Malev, CoreLogic Asia Pacific’s GM Financial Services & Insurance Solutions, says “Our membership with IGCC is very exciting, as through this engagement we are now able to further demonstrate our alignment with the investment and financial sector at large, and our commitment to assisting them assess current and future impacts of climate change to their physical assets and portfolios.
“We’re especially looking forward to participating in IGCC’s Physical Risk & Resilience Working Group, where our depth and breadth of data on physical real assets at risk and analytical capabilities will bring additional value to the discussion, actions and developments from this group to better prepare our industry, communities and customers for the impact of climate change.”
Emma Herd, IGCC Chief Executive Officer, says “We are delighted to have CoreLogic Asia Pacific join as a supporting member of IGCC and look forward to the practical insights and experience the organisation will bring to our work. Climate change poses systemic risks to the Australian and New Zealand economies and collaboration across the industry is critical to ensuring financial investors are well equipped to address these risks and have their voice heard in the inevitable net zero emissions transition.”
In 2020, CoreLogic announced its partnership with Munich Re, one of the world’s leading reinsurers, allowing it to offer a comprehensive view of the impact of climate change to individual properties in Australia and New Zealand.
Ms Malev says “Munich RE climate analytical insights are applied to CoreLogic’s comprehensive property data coverage that connects to our banking, valuation, insurance and real estate systems. By marrying together the science that powers Munich RE natural catastrophe modelling with robust CoreLogic property data and analytics, we can provide powerful analytics to help our clients and the industries in which they operate mitigate climate, property-related financial risks, and embed climate change as part of strategy and risk management framework.”
CoreLogic has a long history of providing catastrophe event insights in the US where they provide detailed intelligence on structural risks and natural hazards plus weather verification services to capture the severity and location of severe weather impact down to a specific property.
To find out more about CoreLogic’s membership with IGCC or its Climate Risk Solution, visit www.corelogic.com.au/products/climate-risk-solution.
IGCC is a collaboration of Australian and New Zealand investors focusing on the impact that climate change has on the financial value of investments. The IGCC represents institutional investors, with total funds under management of over $2 trillion, and others in the investment community interested in the impact of climate change on investments. The IGCC aims to encourage government policies and investment practices that address the risks and opportunities of climate change, for the ultimate benefit of superannuants and unit holders.