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BIS enables climate risk analysis using AI

While many companies offer datasets on sustainability, proprietary algorithms make it difficult for supervisors and regulators to use them for decision-making

by Barbara Pianese

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BIS enables climate risk analysis using AI

Image: Laurence Dutton/Getty Images

The Bank for International Settlements has announced today the development of an artificial intelligence application which enables analysis of climate-related risks in the financial system.

Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Centre, the Bank of Spain, the Deutsche Bundesbank and the European Central Bank, aims to create a tool to search corporate climate-related disclosures and extract data, reducing the manual effort involved in climate assessments.

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Barbara Pianese

Barbara Pianese is the Latin America editor at The Banker. She joined from Mergermarket, where she spent four years covering mergers and acquisitions across Europe with a focus on the consumer sector. She holds an MA in International and Diplomatic Affairs from the University of Bologna having studied in Brazil and France as well.

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