AECOM , SMI Launch SMI Nature Risk Tool at NYC Climate Week 2024
AECOM, in collaboration with the Sustainable Markets Initiative (SMI), has launched the SMI Nature Risk Tool at NYC Climate Week 2024. This innovative tool aims to transform the planning, financing, and delivery of infrastructure projects by considering the impact on nature and biodiversity. Developed by AECOM for SMI s Measurement and Transparency Task Force, the tool leverages AI to analyze complex data from various sources, presenting it in a user-friendly format. The tool segments the world into 16 unique geographical areas based on climate, vegetation, and wildlife, enabling users to assess nature-related risks and opportunities specific to a project s location, type, and scale. This assessment helps decision-makers identify potential environmental dangers, such as pollution, biodiversity loss, or geological hazards. By significantly reducing the time required for risk assessments from weeks to hours, the SMI Nature Risk Tool helps future-proof projects, avoiding costly delays, reputational damage, and legal liabilities. It also unlocks new sources of value, innovation, and financing by providing clear, actionable insights. The tool supports users in meeting the growing expectations and requirements of regulators, investors, clients, and communities, and prepares projects for reporting under the Taskforce on Nature-related Financial Disclosures (TNFD). The pilot phase of the tool, which began in June, involved organizations such as Shell, BP, KPMG, WWF, Barclays, and Acciona. The insights gained from these pilot projects informed the final version of the tool, which will be available to all SMI members. The SMI Nature Risk Tool represents a significant milestone in AECOM s commitment to Sustainable Legacies and empowers clients to make informed decisions that mitigate risks and create long-term value for communities and the environment. The tool aims to serve as a powerful resource for developers and policymakers worldwide as they work collectively to protect and restore harmony with nature. For more information, visit aecom.com.
Source: engineering.comPublished on 2024-09-27
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