Oracle Cloud Service enables banks to manage climate change risk across portfolios

Duncan is an award-winning researcher, with 20 years experience of analysing the technology industry, specialising in cloud computing, edge computing, blockchain, cybersecurity and marketing technology.

Financial institutions are under increased pressure from regulatory bodies to understand their environmental footprint and that of the companies they finance or invest in, otherwise known as financed emissions.

To help banks better assess climate risk Oracle today announced Oracle Climate Change Analytics Cloud Service. With built-in AI, the new reporting and analytics solution is designed to help financial institutions understand financed emissions, address statutory compliance, and mitigate climate change-related risks.       

Jason Wynne, global VP for finance, risk, and compliance product development, Oracle Financial Services, said: “While banks work on climate-related financial risks that could affect them directly through their operations, they also need to be cognizant of their effect on climate indirectly through the businesses they finance. This dual responsibility requires the critical management ...