New collaboration enhances enterprise climate reporting and compliance efficiency.
Persefoni, a leading Climate Management & Accounting Platform (CMAP) for enterprises and financial institutions; and First Street, the standard for physical climate risk data, are pleased to announce a market-leading partnership to integrate First Street's advanced physical risk management capabilities directly into a new offering within the Persefoni platform, offering enterprises a seamless way to access location-based climate risk data for their assets.
In today's global regulatory landscape, enterprises will soon be required to report physical climate risk information to comply with standards set by the U.S. Securities & Exchange Commission, California's SB 261, CSRD, and various other global governing bodies. This partnership is designed not only to save organizations time but also to enhance the accuracy of these reports, providing enterprises with a robust tool for comprehensive disclosure and reporting preparation.
The initial product will offer property specific physical risk data for U.S.-based assets with a subsequent release for global, non-U.S., asset coverage. The product will be available to purchase in Q4 2024. Most Persefoni customers will be able to purchase and use this new set of capabilities with little to no implementation work needed as they will already have the necessary data available to take advantage of this new set of analytics.
"Persefoni's commitment to product innovation is unwavering, acknowledged by esteemed research entities and valued by global partners. Integrating First Street's physical risk data into our platform marks a pivotal stride towards our mission: crafting unparalleled carbon and climate solutions. This partnership fortifies our collective capabilities, empowering customers with indispensable data to navigate evolving carbon accounting standards." said Kentaro Kawamori, CEO and Co-founder of Persefoni.
Matthew Eby, Founder and CEO of First Street, added, "Our collaboration with Persefoni represents a simplification for enterprise procurement, management and compliance with climate regulations. By embedding access to our data into Persefoni's comprehensive climate accounting platform, we're providing a single solution for both physical risk and carbon accounting needs."
This partnership underscores Persefoni's commitment to delivering a comprehensive solution for carbon and climate management. Alongside Persefoni's industry-leading advances in Generative AI and Supply Chain Management, Persefoni Pro, this new product continues to set Persefoni apart from other industry vendors.
For more information, visit Persefoni's website and First Street's website.
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About Persefoni
Persefoni AI Inc. offers businesses and financial institutions the software and AI tools to manage their organization's climate-related data, disclosures, and performance with the same level of rigor and confidence as their financial reporting systems. With our platform, users can streamline their carbon footprint calculations, develop and oversee decarbonization strategies, and generate audit-ready sustainability reports.
About First Street
First Street™ is the standard for physical climate risk data working to connect climate change to financial risk. First Street uses transparent, peer-reviewed methodologies to calculate the past, present, and future climate risk for properties globally and makes it available for citizens, industry and government.
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