What is refinq’s Benchmarking tool?
refinq’s Benchmarking tool allows businesses to compare their climate and biodiversity performance against industry standards, market averages, and competitors. This provides strategic insights into both risks and opportunities, guiding nature-positive and climate-resilient decisions.
How does refinq handle incomplete data for benchmarking?
When asset-level data is not available, as it is likely the case for competitors and industry averages, refinq uses partners to source the data, or uses regional, industry, or country-level data as a proxy. This ensures companies can still benchmark their climate and biodiversity risks with high accuracy, even with incomplete data.
What types of climate and biodiversity risks does refinq assess in benchmarking?
refinq assesses a wide range of climate risks such as heat stress, drought, flooding, and landslides. For biodiversity, risks like land degradation, species extinction, and ecosystem intactness are evaluated, allowing companies to see how they compare against competitors or industry standards.
Does refinq’s benchmarking tool align with global reporting standards?
Yes, refinq’s benchmarking assessments are aligned with global standards such as the Taskforce on Nature-related Financial Disclosures (TNFD), CSRD, and ESRS, ensuring your company’s climate and biodiversity benchmarking meets regulatory expectations.
How does refinq provide benchmark comparisons for climate and biodiversity risks?
efinq aggregates data from all assets in a company’s portfolio and compares climate and biodiversity risks to relevant industry or competitor benchmarks, providing both relative and absolute performance metrics.
What data sources does refinq use for climate and biodiversity benchmarking?
refinq sources data from trusted providers such as Copernicus, ENCORE, and ISIMIP, covering both climate and biodiversity indicators. This data is used to benchmark a company’s performance against broader market and industry standards.
Can refinq quantify the financial impact of climate and biodiversity risks from benchmarking?
Yes, refinq translates climate and biodiversity risks into financial impact estimates, allowing companies to understand the potential financial consequences of their relative performance in the market.
Can refinq benchmark climate and biodiversity risks outside of the EU?
Yes, refinq’s benchmarking tool is applicable globally and aligned with international frameworks like TNFD, ensuring comprehensive benchmarking regardless of the geographic location of your assets.
How is sensitive business data protected in refinq’s benchmarking platform?
All data, including climate and biodiversity benchmarking results, is securely stored on European servers. refinq adheres to strict data confidentiality and protection protocols, ensuring your business data remains safeguarded.
