The new algorithm developed by Fujitsu automatically arranges customer data and hazard data issued by the government on a map to calculate the physical risk of a customer or asset in the event of a flood. The analysis results will be used in the integrated report of Hokuhoku FG that will be issued on
Moving forward, the two companies will continue to verify the effectiveness of the newly developed algorithm for customers in the financial industry with a large number of clients, and plan to expand it to customers in other industries in the future.
Background
Climate change poses a major, ongoing economic threat, and not only listed companies but also many affiliated companies are increasing their efforts to resolve the myriad issues related to global warming. Underlining the growing significance of this responsibility, players in various industries increasingly focus on TCFD as a measure to disclose climate-related financial information.
In
The implementation of cross-industry measures that also include players such as logistics companies that transport goods and institutions that finance climate change initiatives represent an ongoing task.
To address this issue, Fujitsu and Hokuhoku FG developed new measures to accurately and efficiently measure flood risks, which represent a high-priority issue within climate-related risks.
Outline of the trial demonstrations
Fujitsu and Hokuhoku FG conducted trial demonstrations of the newly developed algorithm from
Future Plans
With the aim to become an environmentally advanced financial group, Hokuhoku FG will utilize its broad customer base to explore new services that support suppliers' efforts to realize their ESG/SDGs related objectives and decarbonization.
Fujitsu will continue verifications of the newly developed algorithm starting with the financial sector where it expects to generate strong interest. Fujitsu further plans to combine this algorithm with initiatives aimed at reducing CO2 emissions of industries including the logistics industry, which remains one of the most important areas in which society's infrastructure faces disruption by potential flood risks. Both Fujitsu and Hokuhoku FG will continue their efforts to contribute to the sustainable development of local economies and communities.
(1)
Headquarters: Toyama Prefecture,
(2) TCFD: "
About Fujitsu
Fujitsu's purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers in over 100 countries, our 124,000 employees work to resolve some of the greatest challenges facing humanity. Our range of services and solutions draw on five key technologies: Computing, Networks, AI, Data & Security, and Converging Technologies, which we bring together to deliver sustainability transformation.
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