Celest Science, a Paris-based startup, has secured â¬2M in seed funding to enhance climate risk modeling. With climate-related events costing over $100B in 2023 alone, the need for effective risk management tools is critical, especially with new EU regulations mandating climate risk disclosures. Celest Science provides climate intelligence using machine learning and climate science, assisting financial institutions and governments in responding to these challenges. Their unique models analyze the interactions of various environmental systems rather than just historical data, offering forecasts to help clients manage climate risks effectively.
"Celest Science aims to enhance the understanding of climate risk by using machine learning and climate science, providing insights crucial for financial institutions and governments to adapt to new regulatory demands."
"In 2023, climate-related events incurred over $100B in losses globally, reinforcing the urgent need for reliable risk management tools in light of new EU climate regulations."
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