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XDI reaffirms its commitment to be an independent provider of physical climate risk analysis following social media speculation around acquisition
There have been a number of LinkedIn posts by our competitors recently naming our company as an acquisition in their sights.
We feel we need to respond to reassure our clients and resellers that XDI intends to be a long-term, independent provider of the very highest quality climate risk analytics.
We believe that global consolidation of climate risk analytics to one or more companies will limit access to quality physical risk data. We are committed to (a) making our data as accessible as possible (including for public good purposes) and (b) guaranteeing supply of the very best analytics to our resellers and direct clients.
The team behind XDI are now the longest-standing independent analytics company in the world – Climate Risk Pty Ltd was established at a similar time to Acclimatise in the UK, an excellent company recently acquired by Willis Towers Watson. While Acclimatise focussed on business systems and consulting, our team focussed on software development to cope with the very large data sets and complexity of cross-computing engineering, weather, hazard, and climate data sets. We have had 10 years of continuous software development which is now provided via the XDI brand.
While companies like Jupiter have significant financial resources to spend, in practice money cannot buy time or experience. As a result, we are of the view that our systems remain the most powerful (in terms of scale) and accurate (in terms of detail) for investment and engineering grade analysis in the world today. Our clients and partners confirm time and again that our analysis and service come up best against the competitors they have tested.
In the past 12 months we have analysed over 5 million mortgages, 12,000 companies, and commercial real-estate portfolios in over 20 countries. XDI revenue has tripled, and we have established on-going data and reseller relationships with over a dozen significant data, consulting and finance firms globally. We have ongoing commitments to government clients in North America and Australia. Via these relationships, our quality analysis is making impacts in corporate decision making around climate, driving our mission to shift the dial on climate change.
As a fundamental part of our company mission, we also provide a substantial amount of ‘public good data’ to the media, civil society actors and government analysts.
I am writing this note to reassure you that we still have your back, and we are listening and responding to your needs for the next generation of capabilities. While we are indeed in discussions regarding investment to fund our high growth rates and power our vision, these conversations are with parties with whom we have long standing working relationships, or where there is very strong values alignment. All these discussions are framed by our company values and commitment to shifting the dial on climate change.
We wish our competitors Jupiter and The Climate Service the very best in their efforts to avoid dangerous climate change. Competition is good for driving innovation and diversity, which is in everybody’s interest as we work together to tackle the greatest challenge of our time.
Meanwhile our order books are full, and we remain fully focussed on defending our position as the absolute best provider of asset-level intelligence for the finance sector, governments, and critical infrastructure utilities. There is still room in the market for lower-cost services which don’t need the same level of detail for decisions that have less consequence on our planet.
Rohan Hamden, CEO