Morningstar Sustainalytics has bought Montreal-based climate-risk tech firm Aquantix.
The acquisition will significantly expand Morningstar Sustainalytics’ climate data capabilities in the real estate sector, where Aquantix specializes.
The acquired company’s climate-risk models use artificial intelligence to assess physical risks for about 500 million residential and commercial assets across 180 countries, according to the firms.
“Banks, lenders and real estate asset managers require a comprehensive understanding of the impact that climate change has on their portfolio of real estate investments,” said Morningstar Sustainalytics commercialization director of real estate solutions, Toby Messier, in the announcement.
“Aquantix fills this void by capturing millions of climate-related data points and providing meaningful property risk metrics that measure the estimated asset damage from emerging climate events across various time frames and scenarios.”
Aquantix has a strategic partnership with fellow Canadian firm Teranet, from which Morningstar will also benefit, the acquiring firm stated.
Teranet, which specializes in registry services and real estate data and analytics, uses Aquantix’s property climate risk information for the packages it provides to financial institutions and regulators.
This story was originally published on ESG Clarity.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
