MAS and BIS launch blueprint for climate risk data platform

The platform integrates regulatory and climate data from corporate disclosure documents.

The Monetary Authority of Singapore (MAS) and the Bank for International Settlements (BIS) developed a blueprint for a platform integrating regulatory and climate data to aid financial authorities in identifying, monitoring, and managing climate risks in the financial system.

The blueprint, “Project Viridis,” outlines essential features and metrics for a climate risk platform, incorporating data on financed emissions, exposure to physical risks, and forward-looking assessments across various climate scenarios.

Project Viridis illustrates regulatory data integration with climate data extracted from corporate disclosure documents using natural language processing techniques.

The integration enables authorities to gain insights into financial risks related to climate change, assisting them in forming an initial assessment of financial institutions’ risk exposures and identifying areas that may require further risk evaluation.