UK finance chair Bob Wigley joins Climate X as an advisor to help the British financial sector prepare for climate change impacts.
With over 35 years of experience in banking and finance, Wigley joined the climate risk analytics provider from UK Finance as the company expands its technology for financial institutions and global commercial property firms.
Previously, he served as the chairman of Merrill Lynch for Europe, the Middle East, and Africa and was also a member of the Bank of England's court during the global financial crisis.
Climate X developed a digital “twin” of the Earth - Spectra - that predicts the impact of climate risks on assets and infrastructure. According to the firm, projecting the severity and probability of climatic events aids businesses and banks in adjusting their long-term strategies. Additionally, Spectra assists in fulfilling regulatory requirements set by central banks and the Task Force on Climate-Related Disclosures.
Lukky Ahmed, CEO and co-founder, Climate X, said: “Wigley's appointment marks a step forward in helping Britain’s financial institutions anticipate climate risks as we scale our product and navigate the financial services regulatory landscape."
Wigley added: "Climate X has built a platform at a time when the financial sector is having to consider its impact on the environment more carefully."
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