CLIMAFIN Climate Financial Risk Data

Core Features

CLIMAFIN currently offers four datasets extending the NGFS Short-Term Scenarios. These allow users to choose between broader sector-level analysis and more granular company-level assessments.

• Extended NACE Level NGFS STS Database: Extends the public NGFS database to all NACE Level 2 sectors and selected high- and low-carbon activities at finer levels of detail. It provides scenario-dependent valuation adjustments for equities and corporate bonds, multiple bond maturities up to 25 years and baseline probabilities of default ranging from 0.5% to 10%.

• Firm-Level NGFS STS Top 3000 Equity Database: Provides scenario-contingent adjustments to equity values for approximately 3,000 major listed companies globally. This brings NGFS scenario analysis down from country and sector averages to individual companies, allowing investors to assess how different holdings could respond differently to climate-related financial shocks.

• Firm-Level NGFS STS Energy & Mining Equity Database: Provides a more targeted dataset covering approximately 500 equities in the global energy and mining sectors. These industries can have materially different exposures to climate-transition policies, making company-level analysis useful for institutions with significant holdings or lending exposure in these sectors.

• Firm-Level NGFS STS Top 3000 Equity Database – Baseline PD: CLIMAFIN also offers a Top 3000 firm-level dataset incorporating different baseline probabilities of default (PDs). Available baseline PD assumptions range from 0.5% to 10%, allowing institutions to reflect differing starting levels of credit risk when applying climate scenarios.

Closing Insights

CLIMAFIN was formed by leading climate-finance researchers Stefano Battiston, Antoine Mandel and Irene Monasterolo, whose work has contributed directly to the global climate-risk policy landscape. Most notably, CLIMAFIN led the modelling consortium responsible for the financial-risk metrics in the NGFS Short-Term Climate Scenarios, released in 2025. Its policy work also includes developing a computational model for the World Bank to assess the economic, financial and emissions effects of green financial-sector interventions.

Its clients and collaborators span the financial system, including banks, insurers, asset managers, central banks and financial regulators. CLIMAFIN says its models are used by insurance-sector organizations including CCR, Sequantis and SS&C Algorithmics, while its regulatory work has involved international and national institutions such as the European Insurance and Occupational Pension Authority (EIOPA) and the Swiss National Bank as well as think tanks like Ceres which has also used CLIMAFIN analysis to examine transition risks in U.S. banks’ commercial and industrial loan portfolios.

The datasets are therefore best understood as one part of CLIMAFIN’s broader climate-risk offering. The company also provides Climate Risk Management Software, deployable as a standalone system or integrated into an institution’s existing risk management framework, covering transition and physical risks across asset classes.

The four datasets can currently be purchased online for immediate digital delivery, with listed one-year licences ranging from €2,500 to €5,000 plus VAT. Institutions with more specific requirements may want to contact CLIMAFIN to discuss its software, additional data products and tailored implementations, particularly where climate risk analysis needs to be integrated into existing portfolio, credit-risk or regulatory workflows.