WTW boosts climate risk analytics expertise with Butterwire acquisition

Rhea-AI Summary

WTW has announced the acquisition of Butterwire, a FinTech specializing in climate risk analytics, enhancing its market position. The deal aims to improve WTW's capabilities in climate-related financial risk management globally. Butterwire's team brings advanced data analytics, artificial intelligence, and machine learning skills, furthering WTW’s service offerings under its Climate and Resilience Hub. This acquisition integrates Butterwire's technology, including the Climate Transition Value at Risk methodology, which aligns with Paris Agreement goals, thereby reinforcing WTW’s commitment to sustainability.

Positive

• Acquisition strengthens WTW’s position in climate risk analytics.
• Enhances capabilities in managing climate-related financial risks.
• Integration of advanced AI and data analytics from Butterwire.
• Utilization of Butterwire's software to improve existing services.
• Supports WTW's commitment to sustainability and Net Zero targets.

Negative

• None.

Acquisition of long-term partner Butterwire consolidates WTW’s market-leading position as a provider of climate risk analytics

LONDON, July 12, 2022 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, announced today the acquisition of Butterwire, a FinTech provider of data analytics, artificial intelligence (AI) and machine learning platforms. The move will further strengthen WTW’s world-leading capabilities in delivering climate risk analytics to organisations around the world.

The team of research, data science and software engineering professionals offers a unique skill set and cutting-edge capabilities that complement WTW’s wider climate and investment services. Using these capabilities, WTW clients will be able to manage climate-related financial risks at scale and speed. Based in Glasgow, Scotland, the financial analytics company will become a part of WTW’s Climate and Resilience Hub.

Butterwire software already incorporates WTW’s proprietary Climate Transition Value at Risk (CTVAR) methodology, which quantifies the anticipated impact on equity and fixed-income valuations of aligning with the goals of the Paris Agreement. The company also provides the platform underpinning the STOXX Climate Transition Indices (CTI), launched by WTW in 2021 to help investors, governments and companies manage climate transition risk, capture opportunities in their portfolios and work towards Net Zero targets.

David Nelson, Senior Director, Climate Transition Analytics, Climate and Resilience Hub at WTW, said: “We are delighted that the highly talented Butterwire team is joining WTW. They have been working closely with our team for a number of years, and bring proven capabilities that open significant opportunity. This acquisition enhances our ability to bring clients best-in-class products and solutions to help them achieve a climate-resilient future.”

Raphael Fiorentino, CEO and Founder of Butterwire, said: “WTW is a world leader in risk management and this vote of confidence leads us to the next stage of our evolution. I’m hugely excited by the potential that WTW’s acquisition of Butterwire brings and look forward to continuing our work alongside colleagues within the Climate and Resilience Hub, which has already achieved an unrivalled breadth and depth of climate expertise and capabilities.”

About the Climate and Resilience Hub
The Climate and Resilience Hub (CRH) is the focal point for our climate expertise and capabilities, pooling knowledge from across our people, risk and capital businesses and from our collaborations to deliver climate and resilience solutions in response to a range of regulatory, investor, consumer, employee and operating pressures. Under the Climate Quantified™ brand we deliver analytics, advice and transactions to enable corporate, finance and public sector institutions to embrace the climate decade ahead.

About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organisations sharpen their strategy, enhance organisational resilience, motivate their workforce and maximise performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Learn more at wtwco.com.

Media contact
Andrew Collis: +44 7932 725 267 | andrew@acolliscommunications.com

FAQ

What is the significance of WTW's acquisition of Butterwire?

The acquisition enhances WTW's capabilities in climate risk analytics, positioning it as a leader in managing climate-related financial risks.

How does Butterwire's technology benefit WTW?

Butterwire’s advanced data analytics and AI technology will improve WTW's existing climate and investment services.

When was the acquisition of Butterwire by WTW announced?

The acquisition was announced on July 12, 2022.

What methodology does Butterwire incorporate into its software?

Butterwire's software incorporates WTW's Climate Transition Value at Risk methodology.

What impact will the acquisition have on WTW’s clients?

Clients will benefit from enhanced tools to manage climate-related financial risks and align with sustainability goals.