The Linux Foundation (LF), recently announced their intent to form a new initiative called the LF Climate Finance Foundation (LFCF).
The foundation is tasked with empowering investors, banks, insurers, companies, governments, NGOs, and academia with AI-enhanced open source analytics and open data to address climate risk and opportunities. Initial members include an interesting and diverse group of organisations including Allianz, Amazon, Microsoft, and S&P Global, and the planning team includes representatives from the World Wide Fund for Nature (WWF), Ceres, and the Sustainability Accounting Standards Board (SASB).
The initiative will be fueled by open data and is evidence of the huge economic drivers surrounding climate risk, with the open data sector becoming more clearly a focus point for the financial organisations.
In just the same way that financial risk markets evolved from the early corn exchanges into commodities exchanges and powerful derivatives markets, we are witnessing enormous investment in open data and the growth of industries surrounding the gathering, cataloguing and analysis of open data. The analysis of open data affords risk mitigation at scale, enabling governments and financial markets to mitigate long term risk.
Link Digital has been a leading advocate and driver of open source tool sets for open data, as co-steward of CKAN we’re at the forefront of enabling open data across different regions of the world.