Wildfire Risk Analytics
There is a strong connection in California between water risk and wildfire risk. If you listened to our reports last week featuring Safeeq Khan you will recall that the dryness of the fuel caused by changes in participation is part of what’s increasing the risk of wildfires. Water risk analytics company Aquaoso knows this and has started providing their clients with wildfire data as well, says CEO Chris Peacock.
Peacock… “From our perspective, as we think about climate change and water risk and how water risk gets translated into physical risks. There's the obvious things like droughts, floods, wildfires are a part of it because the droughts impact in a water availability and the dryness of the timberland areas. So we're seeing kind of direct results of climate change and drought surfacing in other ways and other types of risks for our customers. And so we're trying to bring as much of that as we can into our platform to help our customers better understand all of the risks related to water, not just obvious culprits. Like last year, you know, during the wildfire season, we opened up some wildfire maps on the platform. So the lenders could see the risks associated with those fires. In the context of their portfolio. So we're really going to continue to expand our tool set, to allow for other analytics as well.”
Peacock says this is all part of climate risk, which Aquaoso’s banking, investment, and agricultural clients use their analytics to assess.