Ernst & Young (EY) and Airbus have joined as founding members of the open-source data platform OS-Climate, joining a roster of high-profile affiliates which include Allianz, BNP Paribas, S&P Global, Goldman Sachs, Federated Hermes, KPMG, the Net Zero Asset Owner Alliance and the London Stock Exchange Group.
The upcoming platform, which has been under development since 2019, will host climate datasets and tools identified as the most material for decision-making by financial institutions, and will be free-to-access for all users.
But there is also the potential to reap profits for the big names who have signed up. OS-Climate’s open-source model means that members share the costs required to build the platform but will then be able to leverage the platform’s shared resources to develop their own commercial offerings.
In addition, members say that an industry-wide initiative is necessary to address the unavailability of key climate dataset…