Project description
Adding climate change to financial risk managers’ portfolio
Climate change can have dramatic financial consequences, deepened by collapsing markets and economies. Financial risk managers, who create future strategies for their clients, require detailed data but there is little information available on climate change threats. The EU-funded CLIMEX project can fill this gap thanks to its output from the FET research Project DOLFINS on Climate-Finance Stress-testing and its cutting-edge competencies. The project aims to bring the product (website and Service demo) to key companies and institutions in the finance market. This innovative B2B commercial tool will allow financial risk managers to include climate risks in their portfolio for better risk management and improved performance.
Objective
CLIMEX will bring to the market an innovative commercial product based on the research output of the FET research Project DOLFINS, i.e. the “Climate-Finance Stress-testing”. The innovation will narrow the gap between our prior top level research and the market. By delivering a B2B commercial tool for financial risk managers, CLIMEX will allow them to price climate risks in their portfolio management strategies, thus filling in an existing gap on the market. In particular, our innovation will provide detailed quantitative information about the exposure to climate risks of individual firms and financial institutions’ portfolios, thus allowing them to improve their business and environmental performance. To achieve this goal, CLIMEX designs a 12-months Commercialization Roadmap that pursues a patenting and a start-up strategy and a commercialization strategy, and delivers a website and Software as a Service demo, together with targeted dissemination events with key private and public finance stakeholders with whom the CLIMEX consortium has already engaged in a business dialogue. CLIMEX’s disruptive positioning on the market is achieved by combining cutting-edge scientific competence across three domains in which the CLIMEX members are international leaders, (i.e. models of risk and contract valuation in financial networks, environmental economics, Software as a Service demos) and their knowledge and know-how when it comes to implement the methods on actual clients’ portfolios. The consortium will have access to professional advise on technology transfer via a dedicated organization at the coordinator node, as well as support from experienced entrepreneurs in the field of fintech.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences software
- social sciences economics and business business and management entrepreneurship
- social sciences economics and business economics
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.1.2. - EXCELLENT SCIENCE - Future and Emerging Technologies (FET)
MAIN PROGRAMME
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H2020-EU.1.2.1. - FET Open
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
CSA - Coordination and support action
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-FETOPEN-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
8006 Zurich
Switzerland
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.