Fintech PR
Morningstar Sustainalytics Enhances its Physical Climate Risk Assessments for Public Companies
Physical Climate Risk Metrics enables investors to assess the financial impacts of portfolio companies’ direct and indirect climate risks
CHICAGO and TORONTO, June 22, 2023 /PRNewswire/ — Morningstar Sustainalytics, a leading global provider of ESG data, research, and ratings, announces enhancements to its Physical Climate Risk Metrics product, including the addition of two new reports offering deeper views into companies’ exposure, loss, and financial resiliency as it relates to physical climate risk. Within these reports, new indirect risk metrics have been added to better meet the Task Force on Climate-related Financial Disclosures (TCFD) recommendations of disclosing on both direct and indirect physical risk and providing insight across the entire business value chain.
In a hot house world scenario where climate policy efforts are insufficient to stop global warming, leading to irreversible climate change and severe consequences from related physical risks, companies with average physical climate risk exposure within Physical Climate Risk Metrics universe may lose an equivalent of $0.45 for every $1 of cumulative operating cash, between now and 2050. As part of Morningstar Sustainalytics’ evolving set of climate-focused solutions for investors, the comprehensive Physical Climate Risk Metrics dataset provides visibility into the financial impacts of physical climate risks, considering a company’s revenue, physical asset value, and operating cash flow.
“With the increasing global adoption of climate-related regulation to accelerate decarbonization and within the limited time to mitigate the effects of global warming, investors need data and insights to understand their exposure to financial risks stemming from the increasingly frequent and devastating climate events,” said Azadeh Sabour, senior vice president of Climate Solutions at Morningstar Sustainalytics. “With net-zero insights from our recently launched Low Carbon Transition Ratings coupled with asset-level data-based insights from our Physical Climate Risk Metrics, we empower investors with a suite of climate solutions that align with the TCFD’s guidance.”
The Physical Climate Risk Metrics are a bottom-up assessment of climate change-related adverse impacts from physical hazards, including major storms, wildfires, floods, and others. The dataset can support investor alignment with the TCFD recommendations and provides transparency into a company’s expected financial losses between now and 2050. Developed in collaboration with XDI (Cross Dependency Initiative), an award-winning physical climate risk analysis leader, these metrics cover over 12,000 companies, spanning 12 million assets, 135 sectors, and 235 countries.
Collecting and parsing large amounts of asset-level and climate data requires vast technological resources unavailable to many investors. Additionally, the asset-level data to define exposure has been historically limited in its availability. With the Physical Climate Risk Metrics, investors can quantify the physical climate risks facing their portfolio companies and have access to multiple assessment views, including specific hazards, countries, estimated asset damage, estimated revenue losses, time series, and climate scenarios.
Morningstar Sustainalytics’ Physical Climate Risk Metrics are currently available as a standard package of five reports through its Data Services, and company-level reports will be available via its online client portal, Global Access, later this year. To learn more about Morningstar Sustainalytics’ Physical Climate Risk Metrics and its full suite of Climate Solutions, please visit here.
About Morningstar Sustainalytics
Morningstar Sustainalytics is a leading ESG data, research, and ratings firm that supports investors around the world with the development and implementation of responsible investment strategies. For more than 30 years, the firm has been at the forefront of developing high-quality, innovative solutions to meet the evolving needs of global investors. Today, Morningstar Sustainalytics works with hundreds of the world’s leading asset managers and pension funds who incorporate ESG information and assessments into their investment processes. The firm also works with hundreds of companies and their financial intermediaries to help them consider material sustainability factors in policies, practices, and capital projects. Morningstar Sustainalytics has analysts around the world with varied multidisciplinary expertise across more than 40 industry groups. Learn more about Morningstar Sustainalytics’ Physical Climate Risk Metrics and its full suite of Climate Solutions here.
Morningstar Sustainalytics produces various metrics, ratings, and assessments, which include assumptions of future events, which may or may not occur or may differ significantly from what was assumed. These metrics, ratings, and assessments are statements of opinions, subject to change, are not to be considered as guarantees, and should not be used as the sole basis for investment decisions. Morningstar Sustainalytics does not provide investment advice or any other form of (financial) advice and nothing within this press release constitutes such advice.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue.” These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. For us, these risks and uncertainties include, among other things, failing to innovate our product and service offerings or anticipate our clients’ changing needs. A complete description of these risks and uncertainties can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K. If any of these risks and uncertainties materialize, our actual future results and other future events may vary significantly from what we expect. We do not undertake to update our forward-looking statements as a result of new information or future events.
©2023 Morningstar, Inc. All Rights Reserved.
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Fintech PR
Kroll Liquidators Secured Multi-Million Dollar Settlement Between Emergent Fidelity Technologies and FTX Estate Approved by US Bankruptcy Court
NEW YORK, Oct. 18, 2024 /PRNewswire/ — Kroll, the leading independent provider of global financial and risk advisory solutions, announced today that a multi-million dollar settlement between the liquidators of Emergent Fidelity Technologies, Ltd. and the FTX Estate has been approved by the US Bankruptcy Court in Delaware. This settlement involves the recovery of 56 million shares in Robinhood Markets, Inc., acquired by Emergent in May 2022.
Emergent is an Antiguan entity controlled by former FTX executives Sam Bankman-Fried and Zixiao “Gary” Wang. Kroll’s liquidators of Emergent, Angela Barkhouse and Toni Shukla were originally appointed as Receivers over Emergent on an emergency basis to prevent assets from being sold and made inaccessible to the victims of Bankman-Fried’s scheme. The U.S. Department of Justice (DOJ) took control of the assets. The liquidators from Kroll worked with the DOJ to facilitate the repurchase of shares by Robinhood, securing over $626 million for the victims of the FTX scheme.
This settlement is part of the ongoing efforts to recoup assets back for the victims of Bankman-Fried’s scheme.
Angela Barkhouse, Head of Offshore Restructuring at Kroll commented, “The settlement is a significant step in the liquidation of Emergent Fidelity Technologies, Ltd., providing a fair and efficient resolution for all parties. It underscores our commitment to maximizing value and aims to resolve outstanding claims and facilitate the equitable distribution of assets to creditors.”
Advisors
Emergent is represented by the liquidators, Angela Barkhouse and Toni Shukla of Kroll, Morgan Lewis & Bockius LLP as legal counsel in the United States, Forbes Hare, and Lake Kentish & Bennett in Antigua, and David Joseph KC and Alex Riddiford of Essex Court Chambers as counsel.
About Kroll
As the leading independent provider of financial and risk advisory solutions, Kroll leverages our unique insights, data and technology to help clients stay ahead of complex demands. Kroll’s team of more than 6,500 professionals worldwide continues the firm’s nearly 100-year history of trusted expertise spanning financial, risk, governance, transactions and valuation. Our advanced solutions and intelligence provide clients the foresight they need to create an enduring competitive advantage. At Kroll, our values define who we are and how we partner with clients and communities. Learn more at kroll.com.
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DUBAI, UAE, Oct. 18, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, makes another statement in rewarding excellence in trading. The exchange has added 1,000,000 USDT for top performing squads in the World Series of Trading (WSOT). This latest boost will reward 27 additional teams on the Squad Leaderboard and Regional Squad Leaderboards, giving more squads a better chance to claim exclusive rewards up to 10% of the total WSOT prize pool.
From now to Oct. 31, 10AM UTC, the best performing squads may get a head start in their race to unlock a 1,000,000 USDT prize pool. The prestigious prizes are reserved for elite players for a limited time only. Expanding the rewards spectrum for extraordinary yield seekers outside of the top ten and top three lists, the freshly unlocked prize pool gives more high-performing teams their due recognition, and a chance to secure bigger awards.
New Booster Prize Pool Breakdown
1.Squad Leaderboard by PnL(%)
- Ranks 11-20: 21,000 USDT per squad
- Ranks 21-30: 16,000 USDT per squad
2.Regional Squad Leaderboards by PnL(%)
- Ranks 4-10 in each region: 10,000 USDT per squad
WSOT 2024: Higher Stakes, Bigger Rewards
Squads leading the competition now face even higher stakes. The last ones standing in top positions throughout the remaining days stand to earn significantly more, thanks to the expanded prize structure.
Since its launch, WSOT has become the premier crypto trading competition, with one breakout year after another. In 2024, the total prize pool increased by 2,000,000 USDT, reaching a record 10,000,000 USDT, making WSOT not only the longest running competition of its kind in crypto, but also the most rewarding rendition by far. With 13 days remaining in the competition period of WSOT, over 70,000 participants have already unlocked more than 60% of the total pool as of Oct. 18.
Final registration for WSOT 2024 closes in two days. Sign up for crypto’s flagship trading competition for a chance to claim a share of the 10,000,000 USDT prize pool: WSOT 2024.
#Bybit / #TheCryptoArk / #WSOT2024
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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H&M Foundation has announced a significant commitment of SEK7,500,000 (€660,000) to support Start Network’s disaster risk financing programme, Start Ready. This three-year commitment aims to strengthen the capacity of eight countries to anticipate, respond to, and recover from crises.
STOCKHOLM , Oct. 18, 2024 /PRNewswire/ — With climate as a strategic focus, the H&M Foundation’s mission is to support the textile industry in halving its greenhouse gas emissions every decade reaching net-zero by 2050 in a just and fair transition. However, there are also urgent climate related challenges such as climate disasters, that require urgent action. Over the years, climate related disasters have increased. Evidence suggests that around 55% of humanitarian funding goes to climate related crises but only 1% of this funding is organised in advance – despite this being a much more effective way of tackling these crises.
Targeting anticipatory measures in climate driven disasters can prevent or ease emergency catastrophes. That is why H&M Foundation now partnered up with Start Network, a global network of more than 100 organisations working together to shift from reactive crisis response to proactive early action, to support their financing mechanism Start Ready. Through Start Ready, funds are prepositioned for crises that happen with regular and predictable patterns of recurrence, like floods, droughts, and heatwaves. Start Ready protects an average of 700,000 people across eight countries annually. This partnership will enhance the capacity and coverage of current hazard preparedness systems in these countries.
Anna Gedda, CEO of H&M Foundation, hopes that this partnership can inspire other funders to invest more in preventive work: “Proactive measures are essential to prepare for, respond to, and recover from catastrophic events. We believe preventive funding can make a significant difference and ensure a safer future for all. We are proud to support Start Network in their vital efforts to prevent and mitigate the negative effects of disasters.”
H&M Foundation is privately funded by the Stefan Persson family, founders and main owners of the H&M Group. We use philanthropic resources to find, fund and facilitate disruptive innovations, initiatives and research that enable a socially inclusive and planet positive textile industry. To accelerate the transformation, we take on a holistic and open approach – bringing diverse partners together to co-create, and to share learnings and solutions. The H&M Foundation can also provide emergency relief. For more information visit hmfoundation.com.
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