Financial services company Moody’s Corporation

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  • 24 Jul 2019 12:00 AM
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Moody’s Buys Climate Data Firm, Signalling New Scrutiny of Climate Risks

Financial services company Moody’s Corporation has purchased a controlling stake in a firm that measures the physical risks of climate change. This is the latest indication that global warming can threaten the creditworthiness of governments and companies around the world. The rating agency bought a majority share in Four Twenty Seven, a California-based company that measures a range of hazards, including extreme rainfall, hurricanes, heat stress and sea level rise, and tracks their impact on 2,000 companies and 196 countries. In the United States, the data covers 761 cities and more than 3,000 counties. Myriam Durand, global head of assessments at Moody’s Investors Service, said the purchase would allow its credit analysts to be more precise in their review of climate related risks. She added that corporations “can’t mitigate what you don’t understand.” Investors in Moody’s bonds have praised the move, saying it showed the agency is taking climate change seriously.

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New York Times

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