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Morningstar Sustainalytics Enhances its Physical Climate Risk Assessments for Public Companies

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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

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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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Ostium Launches Novel Macro Trading Platform Amidst Growth in Global Events-Based Trading

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Enables Real-Time Trading of Traditional Assets During Historic Event-Driven Market Volatility and Adoption of Prediction Markets

LONDON, Oct. 18, 2024 /PRNewswire/ — Ostium Labs today announced the public mainnet launch of its onchain trading platform, offering traders unprecedented access to global macro markets during a period of global event-driven volatility, marked by speculation around the U.S. Presidential election. Ostium enables perpetuals trading on traditional market currencies, commodities, and indices in real time, markets uniquely affected by events like interest rate changes and geopolitical outcomes.

The trading platform meets the needs of a market grappling with an uncertain U.S. Presidential election, the prospect of escalation in the Middle East, and shifting monetary policies. These dynamics have led to dramatic price movements and dislocations in commodities and currencies, offering unique opportunities for traders chasing volatility. Gold, generally seen as a “flight-to-safety” asset, has skyrocketed past all-time highs as domestic political and economic uncertainty has increased dramatically over the last months. Ostium is the only platform to offer real-time trading across diverse assets including Gold, Copper, and Oil to any user with a crypto wallet.

“Our thesis has long been that this new, more volatile macro paradigm will open up unprecedented opportunities for event-driven trading,” said Kaledora Kiernan-Linn, co-founder and CEO of Ostium Labs. “The success of prediction markets as a forum for traders to express their views on world events is only the tip of the iceberg. Event-driven trading will expand beyond betting on event outcomes to betting on the movements of the most liquid markets in the world – the forex, commodities and global index markets – using event probabilities as critical trading signals.”

“Ostium is perfectly positioned to capitalize on the growing demand for macro event-driven trading,” said Marc Bhargava, Managing Director at General Catalyst. “By enabling one-click trades on traditional assets with only a wallet, Ostium is democratizing access to global markets in a way we haven’t seen before. This isn’t just another crypto play – it’s a gateway for traders to efficiently capitalize on macro news across traditional financial markets, all with the speed and accessibility of decentralized finance.”

Ostium’s novel approach has already captured traders’ attention during its private Mainnet phase since August:

  • Ostium’s FX and commodities perpetuals volumes surged 550% during the week following China’s new Quantitative Easing policy announcement and rising Middle Eastern tensions (9/27-10/3)
  • Open Interest on Ostium’s WTI Crude Oil perpetuals hit caps 6x in the 10 days following Iran’s ballistic missile attack on Israel and ensuing fears of a retaliatory strike on Iranian oil fields
  • Ostium’s Real World Asset (RWA) volumes have outpaced crypto volumes 4x in recent weeks of macroeconomic instability, and 8x on days with heightened macroeconomic instability

“The next evolution of event-based trading isn’t about predicting outcomes in isolation, but understanding and capitalizing on how these events influence the world’s largest and most liquid markets,” Kiernan-Linn added. “We’re building a new trading experience where anyone can trade any strategy on any asset––all with just a wallet.”

Ostium leverages a unique design: a non-custodial, onchain perpetual futures market that disintermediates the centralized liquidity and exposure management characteristic of legacy FX/CFD brokers through the introduction of dynamic funding fees, allowing users to gain exposure to commodities, index and forex markets without the exchange managing the book. This innovative architecture positions Ostium to radically democratize access to macro-driven markets and compete against legacy, centralized FX/CFD brokers for the 80 million and growing monthly-active userbase, and the $50 trillion traditional asset retail trading market.

“A lesser known fact is that perpetuals are in fact quite similar to instruments that have been offered by FX brokers for years – cash-settled, non-expiring, synthetic primitives closely tracking the price of an underlying asset, enabling easy both long and short exposure – traded by over 50 million monthly active forex traders globally,” said Marco Antonio Ribeiro, co-founder and CTO of Ostium Labs. “However, onchain perpetuals are a fundamentally better instrument due to the introduction of funding rates, which incentivize market balance, and the ability to trade self-custodially, improving the adversarial market structure between platform and user. We strongly believe the retail FX trading market will be disrupted in the next 5 years and that it will be done by perps.”

Ostium’s shared liquidity model, unique fee architecture, and custom RWA price oracle facilitate perpetual creation on any asset with a liquid underlying off- or on-chain spot market. This flexible architecture enables rapid listing expansion across asset classes.

With its mainnet launch, Ostium aims to fill a critical gap for narrative-driven trading in the prosumer market. The platform’s ability to offer one-click, large-scale trades on macro events positions it as a leader in an underserved category. As global markets face increasing tumult, Ostium provides a novel platform to navigate and capitalize on these dynamic conditions, setting a new standard for accessible and flexible trading in an event-driven age.

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For more information about Ostium and to start trading, visit www.ostium.io.

About Ostium:

Ostium is building Real World Asset perpetuals trading infrastructure to enable the ‘perpification’ of non-digital assets. The protocol leverages an in-house Real World Asset oracle network and pool-based on-chain liquidity engine to facilitate onchain exposure to traditional market assets. With founders and team members previously from Harvard, Bridgewater, and BlackRock, Ostium is backed by leading investors including LocalGlobe, General Catalyst, Susquehanna (SIG), and Alliance DAO.

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Kroll Liquidators Secured Multi-Million Dollar Settlement Between Emergent Fidelity Technologies and FTX Estate Approved by US Bankruptcy Court

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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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Race to the Top: Bybit Adds $1 Million to WSOT 2024 Prize Pool – Final Days to Register!

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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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