EY joins hands with Microsoft to launch climate stress testing solution
![climate](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/02/thunder-storm-sky-rain-clouds-cracked-dry-land-2023-11-27-04-58-21-utc-scaled.webp)
EY Canada announced that it has collaborated with Microsoft Azure and launched an EY Climate Stress Testing and Scenario Analysis solution to assist Canada’s financial sector in managing the impacts of climate change.
“Our clients recognize the need for reliable systems to effectively manage and report environmental, social, and governance (ESG) data, but finding such systems proves challenging,” explains Mario Schlener, EY Canada Risk Consulting Leader, in a release. “By combining Microsoft cloud technology and EY ESG risk expertise, we’re providing a powerful solution, complete with the latest industry frameworks and standards, to assist clients through the climate reporting process.”
The solution will address regulatory requirements and help financial institutions with climate reporting and transparency.
“We recognize that operational readiness, resource constraints, and the evolving regulatory landscape pose significant challenges to the seamless execution of climate scenario analysis and stress testing programs,” adds Katerina Kindyni, EY Canada Financial Institutions Sustainability Leader. “This solution offers a centralized tool that enables FIs to efficiently identify, measure and monitor risks associated with the transition to a net-zero economy while seamlessly integrating market intelligence into an organization’s infrastructure.”
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