Jupiter in the news

Four years ago, almost no large companies were thinking about the impact of climate change on their businesses. Finally, many are. Jupiter CEO Rich Sorkin shares his thoughts on climate planning and recovery in the wake of the 2021 Texas blackouts.

“Without that planning and investment, a hellscape will be upon us,” says Rich Sorkin, as the Washington Post turns to Jupiter for insights into power grid climate resilience after the devastating winter blackouts in Texas.

Jupiter Intelligence CEO Rich Sorkin said banks are using his firm’s services to “understand the safety of a mortgage asset over the mortgage’s expected life cycle.” Sorkin added that his company has seen “a huge uptick in interest” from insurance, asset management and real estate companies.

“As Rich Sorkin, head of Jupiter Intelligence, a consultancy, argues: ‘In ten years there won’t be a large entity anywhere on the planet that does not have a handle on its climate risk. Consumers, shareholders and employees won’t stand for it.’”

“Currently, the world overall is repeating the mistakes of the COVID pandemic and the Global Financial Crisis – it is too slow to recognize and respond to enormous and imminent impacts on citizens and corporations,” says Rich Sorkin, CEO of Jupiter.

Zurich North America Insurance has selected Jupiter as one of two finalists to represent North America in the Zurich Innovation Championship. The global competition is designed to create collaborations between Zurich and insurtechs and bring new ideas and energy to the forefront.

Jupiter will use its technology to help the insurance group predict the financial effect of natural disasters such as floods.

A new report warns three Houston-area petrochemical facilities are “highly vulnerable” to costly impacts from climate change. Jupiter estimated the plants would see three to eight times more damage from “extreme” flood events within the next 10 years.

In the report, Jupiter notes that the “very functionality” of the properties could be threatened in the coming decades if designs are not upgraded to prepare for climate change and could result in millions of dollars in equipment damages.

The 100 companies on the list represent the private, independent, and for-profit companies best positioned to contribute to a more digitized, de-carbonized and resource-efficient future. Jupiter’s climate change risk analytics were selected among winners from 15 countries and various industries.

Zurich’s Global Innovation team chose Jupiter from among more than 1,300 submissions from companies in 43 countries around the world.

“2020 has proven beyond a doubt that the private sector has much work to do to prepare for future disruptions, and this is especially true regarding the risks that climate change presents to the stability of financial markets,” Keenan said. “I’m excited to join Jupiter on their mission to not only help organizations adapt to the shocks and stresses of climate change, but to also take advantage of the opportunities for sustainable investment.”

ClimateScore Global™ is a next-generation climate risk analytics tool that provides physical risk assessment designed to support decision-making across a wide range of industries—for any point on the land surface of the planet through the year 2100.

“With the support of industry leaders including Liberty Mutual and MS&AD, Jupiter will continue to deepen our analytics to help customers make complex financial decisions as they emerge from a global economic crisis,” said Rich Sorkin, CEO and Co-Founder.

The $1M grant will go towards the deployment of Jupiter’s FireScore™ Operations service, a wildfire threat and intelligence platform, to accelerate readiness for the 2020 wildfire season.

Jupiter today announced an agreement with the Hawaiian Electric Companies to provide ongoing climate risk analytics services for generation, transmission and distribution infrastructure across five major islands of Hawaii. Jupiter also recently announced a capital investment from Elemental Excelerator (Elemental), a global infrastructure innovation accelerator. The funding, as part of Elemental’s Demonstration Track, will enable Jupiter to accelerate deployment of its flood and wind risk analytics services in the Pacific, beginning in Hawaii.