RESEARCH

We emphasize and encourage links between academic researchers and practitioners at financial institutions to bring theoretical techniques to bear on realworld issues.

Sustainable Finance and Climate Risk

Financial Decision-Making Under Climate Uncertainty:

A Machine Learning Approach for Quantifying the Physical Impacts of Climate Change

The aim of this project is to create a comprehensive framework for financial-decision makers to better understand the sources of physical climate uncertainty on real assets. An evaluation will be completed of the barriers within the Canadian (and global) financial system for reliable physical climate risk models. In addition, the latest advancements in machine learning, probabilistic modelling, and cloud computing and its applications for quantifying future climate risk will be used. Machine learning and data science methods will be applied to analyze high resolution climate simulations, and generate asset-level climate risk insights for energy (e.g. hydropower in British Columbia) and agriculture (e.g. soybean production in Alberta).

 

THEME

Climate Risk Assessment

PROJECT LEAD:

Bardia Monavari, Pharos Platforms Inc.

 


PUBLICATIONS


LEAD RESEARCHER

Bardia Monavari

is Chief Operating Officer, Co-Founder of Pharos. As COO, he oversees the company's operational and strategic initiatives. He is fascinated by how information pipelines can be used as key leverage points to drive sustainable behavior in the financial system.

Bardia holds an MSc in Environmental Change & Management from the University of Oxford. He was awarded a scholarship from St John's College to study the systemic risks posed to Canada's economy in a post-carbon transition.