Private Data Firms Thrive Amid U.S. Government Climate Science Pullback

As the U.S. government reduces involvement in climate science, private data firms like Climate X see growth opportunities. Climate X, utilizing AI and U.S. data, assists a U.K. real estate manager in assessing climate risks to 300 of its properties across Europe and Asia.

In the face of the U.S. government scaling back its investment in climate science, private data companies are experiencing an unprecedented boom. One such company, Climate X, based in London, is at the forefront of leveraging these new opportunities.

The firm was recently commissioned by British real estate manager Savills Investment Management, which is responsible for assets worth 26 billion euros. Savills sought expert advice from Climate X due to rising concerns about climate change-related threats such as floods and fires to its vast portfolio spread across Europe and Asia.

Utilizing sophisticated AI risk modeling tools, Climate X employed data partly sourced from U.S. scientific databases to precisely predict potential damage to 300 properties within Savills' portfolio. This development highlights a growing shift toward relying on private data providers for crucial climate-related analysis.

(With inputs from agencies.)