Forvis Mazars, a leading global professional services network, has partnered with UK-based flood scientists JBA Risk Management to bolster its climate-related physical risk sustainability reporting service. The move will enable the firm to meet increased demand being driven by changing international regulatory reporting requirements reflecting the impacts of climate change.
The international audit, tax, and advisory firm, which had been using open-source data for flood risk, can now access JBA’s market-leading location-level data related to physical risk – including detailed flood risk data for both present day and future flood risk with multiple time horizons and climate change scenarios (both RCPs and SSPs).
The high-quality, easy-to-use flood data, accessed via API, enables Forvis Mazars to provide insight for its clients into potential physical risk from flooding as part of climate scenario analysis exercises and sustainability reporting requirements. Financial institutions are expected to develop and enhance their climate modelling capabilities using reliable data. In Europe, the first mandatory reports under the Corporate Sustainability Reporting Directive (CSRD) were due to be submitted by impacted businesses from January 2025. More organisations will need to have their reporting ready for the end of the year.
Pierre-Alexandre Germont, Director - Global Climate Risk Lead at Forvis Mazars, commented:
“Working with the team at JBA Risk Management will significantly enhance our ability to help our clients gain insight into their present and future risk to flood and ensure they can meet any future regulatory requirements around climate-related physical flood risk. JBA’s data and insight will ensure our clients can plan ahead and mitigate where possible any potential impacts on their businesses from flood."
Mark Goodman, Principal Analyst, JBA Risk Management, added:
“We are delighted that leading global accounting and advisory firm Forvis Mazars has selected JBA flood risk data for use in their models. Their clients will benefit from our high-resolution maps and data to assess their potential physical risks from the changing climate, enabling them to monitor their risk exposure and to comply with climate-related financial disclosure regulations such as CSRD, SDR & ISSB.”