ESSENTIAL – Necessary to understand our product development decisions and

possibilities, knowledge of these topics will be taken for granted.

IMPORTANT – Great source to discuss future developments or to think out of
the box.
COOL STUFF – Just feel free to explore it if you like the topic!

1. Open Source Climate Models and Data

Relying on Open Source climate models may help us in accelerating our product development, as well as
taking inspiration.

1.1 OS-Climate
OS-Climate is an open-source project that aims to provide a transparent and accessible platform for
modeling the physical risks of climate change. It provides tools for modeling the physical risks of climate
change and for assessing the financial impacts of those risks.
It is backed by Linux Foundation and counts several partnerships with tech giants.
Their mission is to create a base framework to climate risk assessment, allowing other player to create a
commercial offering starting from it.
They have the most comprehensive methodology on climate risk I have seen, it is a must read
Home - OS-Climate
os-climate/OS-Climate-Community-Hub: START HERE: OS-Climate Community & Project
Collaboration Space (github.com)
physrisk/methodology/PhysicalRiskMethodology.pdf at main · os-climate/physrisk · GitHub
Physrisk (os-climate.org)

1.2 CMIP6
CMIP6 climate projections (copernicus.eu)
CMIP6 climate projections are a set of future climate projections based on concentration-driven
simulations within the Coupled Model Intercomparison Project phase 6 (CMIP6). These projections are
useful for assessing trends in projected changes in climate at various spatial and temporal scales.

1.3 CESM2
Community Earth System Model 2 (CESM2) | Community Earth System Model (ucar.edu)
The Community Earth System Model Version 2 (CESM2) is the latest generation of the coupled
climate/Earth system models developed as a collaborative effort between scientists, software engineers,
and students from the National Center for Atmospheric Research (NCAR), universities, and other
research institutions. CESM2 is an open-source community coupled model consisting of ocean,
atmosphere (both low-top and high-top with comprehensive chemistry), land, sea-ice, land-ice, river, and
wave models that exchange states and fluxes via a coupler.
It was developed based on the CMIP6 climate projections.

2. Other Products out there

Just some examples of competitor products, interesting to know different ways to represent and/or sell our
outputs. Mature competitors also makes you understand how our own product will be developed in future

2.1 An example of product brochure from Cervest

mandatory_climate_related_disclosure_ebook.pdf (storyblok.com)

New Cool Competitors

Industries - Green Finance - Kayrros
Talked with them pretending to be a student, they use satellite data for wildfires, using XGBoost
modeling
RiskThinking.AI discusses the future of risk - YouTube
Fathom UK Flood Map | Flood Risk, Modeling & Hazard Data, UK

Google Flood Hub

FloodHub (research.google)

Moody’s RMS Developers Documentation

Location AAL Metrics (rms.com)
 3. Studying Material
Climate Paper from Betta
The Holy Grail of how banks will approach climate risk
The 2023 Climate Risk Landscape: Technical Supplement – United Nations Environment – Finance
Initiative (unepfi.org)

VaR and Fundamentals of Risk Management

Microsoft Word - ch7.doc (nyu.edu)
scr-risk-mgmt-fundamentals-112222.pdf (garp.org)
12.1 Motivation - Value-at-Risk

First Street Foundation

I always take inspiration from their work, it’s beautiful. Highly suggested reads
Average Annual Loss (AAL) Data – Risk Factor™
The_Cost_of_Climate_FSF20210219-1.pdf (firststreet.org)
2020 First Street Foundation Flood Model Methodology Overview
First Street Foundation Flood Model 2022 Methodology Addendum
FSF_Flood_Model_Technical_Documentation.pdf (firststreet.org)
A variety of public data sources are used to estimate flood damages – Risk Factor™

Other Depth Damage Functions and HAZUS

Probably our next iteration of damage curves will start from there
CPY Document (army.mil)
nhess-2020-30.pdf (copernicus.org)
Estimating Pluvial Depth–Damage Functions for Areas within the United States Using Historical Claims
Data (firststreet.org) | Flood depth-damage and fragility functions derived with structured expert judgment
- ScienceDirect
Hazus | FEMA.gov
Microsoft Word - HAZUS_MH_Flood_User_Manual_FINAL (fema.gov)

Flood Recurrence Intervals

Floods and Recurrence Intervals | U.S. Geological Survey (usgs.gov)
Cat Modeling (Verisk) | Insurance Use Case
Here you can better understand the insurer perspective
Catastrophe Modeling | AIR Worldwide (air-worldwide.com)
Modeling Fundamentals: What Is AAL? | AIR Worldwide (air-worldwide.com)
Modeling Fundamentals: Evaluating Risk Measures | AIR Worldwide (air-worldwide.com)
How AI and Machine Learning Disrupt Reinsurance Portfolio Optimization | Visualize | Verisk
Global Modeled Catastrophe Losses (air-worldwide.com)
5 Things About Catastrophe Modeling Every Reinsurer Should Know | Visualize | Verisk
How to calculate the tail value at risk from a year-loss table | Visualize | Verisk
Insurance for dummies - Generali Group

Infrastructure Methodologies
Terna apparently has one of the most advanced methodologies on climate risk assessment for their
industry. Pure gold.
01062023_CERRE_REPORT_RESILIENCE.pdf
Resilienza 2.0 - Documento Metodologico_8d8feb185389a85.pdf (terna.it)

ISPRA Documentation, we are oddly compliant with their methodology!

Proposta metodologica per l'aggiornamento delle mappe di pericolosità e di rischio (isprambiente.gov.it)
 4. Interesting Paper for Flood Modeling
Self explanatory
https://doi.org/10.3390/w14244076
Flood risk analysis integrating of Bayesian-based time-varying model and expected annual damage
considering non-stationarity and uncertainty in the coastal city - ScienceDirect
scrim-network/Zarekarizi-flood-home-elavate: Code for: Whether (and how high) to elevate a building to
manage deeply uncertain riverine flood risks? (github.com)
Frontiers | Improved building-specific flood risk assessment and implications of depth-damage function
selection (frontiersin.org)

Downscaling Methods
Jupyter way to downscaling variables: https://www.google.com/url?
sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjhxqGxiZ3_AhUfR_EDHX0SCiwQFnoEC
AIQAQ&url=https%3A%2F%2Fraw.githubusercontent.com%2FIS-ENES3%2FIS-ENES-Website
%2Fmain%2Fpdf_documents
%2FML2_Madaus_MLandAIatJupiter.pdf&usg=AOvVaw1t0y4VSBJeO7DDNg6zWo6X
1501.00092.pdf (arxiv.org)
Sci-Hub | ClimAlign: Unsupervised statistical downscaling of climate variables via normalizing flows.
Proceedings of the 10th International Conference on Climate Informatics | 10.1145/3429309.3429318

5. Miscellaneous
A paid version of Bream
SpaceSense | Geospatial AI made simple
SpaceSense is a technology company that helps organizations build geospatial AI solutions simpler. They
provide an AI toolbox designed to help geospatial data scientists and developers build complex products
faster, hassle-free and at scale.