The growing severity of global warming presents companies with major challenges. In the coming years, institutions of the financial and real economy will be tasked with understanding the opportunities and risks arising from climate change and adapting their business models accordingly.
In order to succeed, decision makers will need adequate tools; science-based tools to analyze the climate impact of an economic entity and quantify corresponding risks and opportunities. The expected output of using such tools are effective mitigation and adaptation strategies.
The team of the Frankfurt-based climate change startup right. based on science has developed such a tool based on its proprietary X-Degree Compatibility Model. Based on scientific climate results and regulatory requirements, the XDC Model calculates the forward-looking climate impact metric known as the XDC. The XDC measures the contribution of an economic unit (e.g. a company) to global warming by indicating how many °C the earth would warm up by 2050 if all economic units were as emission intensive as the one under consideration, subject to a given scenario.
right. understands the huge potential that a collaborative search for answers to questions posed by the climate crisis can bring. As a consequence, the young company has initiated the project right.open: in right.open academic actors receive access to the base code of the XDC Model and are supervised by the team of right. in using it for answering praxis-relevant and climate-related questions. While the code can be accessed by researchers only, the project intends to involve a wide variety of stakeholders from the academic world, and also from the real and financial economy. Together, effective responses to global warming shall be designed and communicated.
Do you want to take advantage of right.open for your academic project? Then contact us and become a part of right.open! The team of right. looks forward to getting you involved in the project!