Willis Towers Watson has announced the acquisition of climate change adaptation advisory and analytics company Acclimatise, as it expands its ESG capabilities.
It comes said the broker due to the growing demands from corporates, Governments and financial institutions for greater help in meeting the challenges of climate and related Environmental, Social and Governance (ESG) issues across physical, transition and legal liability risks.
Willis Towers Watson’s Climate and Resilience Hub (CRH) said combining the capabilities of Acclimatise and the CRH will enhance the company’s leadership in physical climate risk and integrate this with a growing range of wider client services on climate and resilience.
Acclimatise, based in the UK with teams in France, the U.S. and India, has completed over four hundred and fifty climate adaptation consulting projects since it was founded in 2004. The company has developed a platform to assimilate and apply climate model and earth observation data to support risk analytics and on-line applications.
“This has delivered a market leading position among financial services, natural resources, development institutions and Governments across developed and emerging markets to support national planning and climate finance,” said WTW in a statement announcing the acquisition.
Rowan Douglas, Head of Willis Towers Watson’s Climate and Resilience Hub, said, “By combining Acclimatise’s market leading climate modelling and adaptation capabilities with Willis Towers Watsons’s deep experience in natural catastrophe modelling, risk management, re/insurance and investment markets we have a unique range of expertise to help clients manage climate exposures, seize adaptation opportunities and build more resilient societies and economies.
“We have long admired Acclimatise and what John Firth and Dr. Richenda Connell have built as visionary leaders since 2004. Our earlier collaboration via the Willis Research Network illustrated a shared market ambition, culture and complementary experience and relationships. This feels like a very natural step for both teams. We are all excited about meeting the resilience challenges for corporates, Governments and financial institutions in the years ahead.”
John Firth, CEO and Co-Founder of Acclimatise, said, “Climate change risk is fast becoming a central part of government, corporate and financial decision making and planning. Meeting growing client demand will require increasingly sophisticated approaches to climate risk assessment and management.”