Amongst 85 submissions from 70 companies, innovative climate risk start-up Riskthinking.AI is named a finalist amongst a distinguished group of companies.
TORONTO, Dec. 14, 2023 /CNW/ - Riskthinking.AI, a Toronto-based climate risk data and analytics provider, proudly announces its achievement of securing second place in the Hong Kong Monetary Authority (HKMA) Green Fintech Competition, held as part of the Green and Sustainable Banking Conference.
HKMA announced Riskthinking.AI's award on December 11, 2023, at its Green and Sustainable Banking Conference. This event brought together more than 300 Hong Kong banks, technology firms, and regulatory authorities focused on accelerating the net-zero transition and investing in climate resilience through innovative technology.
The HKMA Green Fintech Competition was a central focus of the conference. The competition sought market-ready solutions in four categories: Net-zero Transition, Climate Risk Management, Green and Sustainable Finance, and Sustainability or Climate-related Disclosure and Reporting.
Riskthinking.AI was selected among more than 80 applications as the first runner-up in the Climate Risk Management category. "The judging panel was impressed by the company's solution and its potential to address the pain points of the Hong Kong banking sector," an HKMA representative said when communicating the result of the competition.
At the conference, Riskthinking.AI showcased its enterprise solution to support Hong Kong market participants in measuring and managing climate-related financial risk. The company's submission featured its DigitalClimateEarthTwin™, a global platform and modelling engine that includes trillions of physical asset, climate, and economic data points, and VELO®, a web-based product for visualizing and analyzing climate-related financial risk.
HKMA's recognition of Riskthinking.AI in the Green Fintech Competition underscores its achievement in innovating accessible, comprehensive, and dependable solutions for measuring climate-related financial risk worldwide, including in Asia.
"Riskthinking.AI is humbled and honoured to be placed amongst HKMA's distinguished group of finalists and to be recognized at such an important event. HKMA's leadership in sustainable finance and green fintech is admirable and our team is so proud to support institutions in Hong Kong navigate the uncertainty of climate risk.", said Ron Dembo, Founder and CEO of Riskthinking.AI."We're a new Canadian company with big ambitions. Our mission is to reprice financial markets with the full reality of climate change."
Rather than increase their carbon footprint by making the trip from Toronto, Riskthinking.AI was grateful to be represented at the conference by colleagues from Bloomberg L.P., an official partner of Riskthinking.AI, who are based in Hong Kong.
Riskthinking.AI stands at the forefront of innovation as a leading data and analytics provider dedicated to guiding their customers through the financial impact of the evolving climate.
Sign up for a free trial of VELO on their website: www.riskthinking.ai
ABOUT RISKTHINKING.AI
Founded by financial risk pioneer Dr. Ron Dembo, Riskthinking.AI is a leading data and technology company that is repricing financial risk with the reality of climate change. Their innovative algorithms are used to generate, curate, and maintain a detailed physical asset, infrastructure, and commodities database that covers more than a quarter million companies. This data, combined with Riskthinking.AI's patented stochastic and multifactor climate risk analytics, empowers financial institutions, corporates, and governments to capture unforeseen impacts of climate change that current models miss. Riskthinking.AI has operations in North America and Europe and provides its services globally. For more information, please visit www.riskthinking.ai.
CONTACT: Riskthinking.AI, Dr. Ron Dembo, Founder & CEO, 416-294-3144, r.dembo@riskthinking.ai, John White, Managing Director, EMEA, +44 778 0003337, j.white@riskthinking. ai
