Adds to a rapidly growing number of municipal bond investors including climate risk in investment decisions
Boston, Massachusetts--(Newsfile Corp. - May 21, 2020) - risQ Inc., a start-up delivering best-in-class climate risk analytics, and ICE Data Services, which is part of Intercontinental Exchange, Inc. (NYSE: ICE), today announced that KORE Private Wealth has adopted ICE Climate Risk to provide climate risk data and analytics on the municipal bond market.
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KORE is an independent wealth and asset management firm delivering purposeful and impactful wealth solutions to affluent investors. Via a broad and deep investment approach, including initiatives such as its Innovation Lab, KORE constantly explores novel strategies, processes, technologies, investments and information that can impact the financial well-being of its clients.
"KORE embraces cutting-edge technology and innovative thinking to deliver thoughtful solutions in all facets of our business," said Eric Bodner, Partner at KORE. "The swift pace to more fully understand climate change and its potential impact on the value of our clients' assets in the municipal bond space led us to incorporate ICE Climate Risk into our decision-making process."
"Aligning client investing initiatives and KORE's values around ESG solutions and climate change has made our partnership with ICE Data Services and risQ very valuable and exciting," added Margaret Hay, a Director and Senior Portfolio Manager at the firm. "Our municipal business can now leverage unique technology to quantify climate impact, assess relative value and make smarter purchases, including impact on residential and workplace demographics."
ICE Climate Risk combines cutting-edge climate science, catastrophe modeling and geospatial machine learning technology from risQ with ICE Data Services' leading municipal pricing and reference data to offer the tools to quantitatively measure climate risk in municipal bonds. Delivered through both file delivery and software packages, the solution allows for comprehensive climate analysis at obligor, issuer and security levels, tracking securities from issuance to maturity.
"As the market seeks to recover from the current financial crisis, it can't be blind and unprepared for future crisis catalysts, and climate risk is at the top of that list," said Chris Hartshorn, risQ's Chief Commercial Officer. "The KORE team got it straight away, knowing that their clients expect them to lead and position for their futures through best-in-class data and portfolio climate hygiene."
This also validates the climate risk commentary that Municipal Market Analytics (MMA) has long been providing. "It is encouraging to see yet another leading municipal manager recognizing climate as an undeniable future credit and performance risk," said Tom Doe, President of MMA. "Leaders anticipate impending impactful events, and KORE's action signifies the critical importance climate represents to their results-driven clients."
Evaluated pricing (including fixed income evaluations), continuous evaluated pricing, end-of-day evaluations and Fair Value Information Services related to securities are provided in the U.S. through ICE Data Pricing & Reference Data, LLC and internationally through ICE Data Services entities in Europe and Asia Pacific.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56301