Climate management and accounting platform (CMAP) provider Persefoni has teamed up with data company First Street to develop a new climate physical risk tool to help companies meet growing reporting requirements. First Street specialises in providing data on the physical risks climate change poses to property, from extreme heat to rising sea levels. The new partnership will incorporate First Street’s data into Persefoni’s CMAP, allowing customers “to access location-based climate risk data for their assets”, Persefoni said in a statement. It will initially include risk data for US-based property, with plans to expand to non-US global assets. Regulators around the world are increasingly requiring companies to report on their exposure to climate risk. Persefoni cited new standards set by the US Securities & Exchange Commission, California’s Senate Bill 261, and the EU’s Corporate Sustainability Reporting Directive (CSRD). “Integrating First Street’s physical risk data into our platform marks a pivotal stride towards our mission: crafting unparalleled carbon and climate solutions,” said Kentaro Kawamori, CEO and Co-founder of Persefoni. “This partnership fortifies our collective capabilities, empowering customers with indispensable data to navigate evolving carbon-accounting standards.” The new tool will be available from Q4 2024.
