ImpactAlpha, May 24 – The London-based B Corp. is developing an open database that uses AI to predict climate risk from floods, storms, wildfires and other climate-driven disasters for physical assets such as buildings and farms. The data can be used by companies as well as by insurers, regulators and financiers to assess asset-level risks.
Cervest’s Series A round was led by venture firm Draper Esprit, which calls climate intelligence a $40 billion market. Chris Sacca’s Lowercarbon Capital, Marc Benioff’s TIME Ventures, and Tetra Pak heir Magnus Rausing’s UNTITLED also participated.
The Biden administration’s latest executive order directs agencies to consider climate risk across housing, finance, retirement and other areas. The Securities and Exchange Commission in March put out a call for public comments on climate disclosure as it mulls new rules.