Gaia Vision was introduced in MLIT’s guidance for TCFD physical risk assessment

We are pleased to announce that MLIT published a guide for physical risk assessment for TCFD recommendations in March 2023, and Gaia Vision was introduced in it.

About the “Guidance for Physical Risk Assessment in TCFD Recommendations” by MLIT

For companies listed on the Prime Market launched in April 2022, climate-related information disclosure is required based on the TCFD and other international frameworks. Companies are encouraged to provide climate-related information that is reliable and objective, as well as clear and understandable to investors and other stakeholders. It is also important for companies to properly identify and reduce their flood risks so that flood control in response to climate change advances.

In light of this, MLIT held a “Roundtable on Physical Risk Assessment in Climate-Related Information Disclosure” in FY2022 to discuss physical risk assessments in the private sector’s climate-related information disclosure, with a focus on flooding.

Based on the opinions discussed in the roundtable, a guidance to navigate companies in assessing physical risks has been published at the following website.

https://www.mlit.go.jp/river/shinngikai_blog/tcfd/index.html

Gaia Vision has been introduced in MLIT’s guidance

In this publication, Gaia Vision is listed as an example of a company that offers a usable product. In particular, in assessing future risks under climate change, Gaia Vision is introduced as “startup companies in Japan have begun offering risk assessments under multiple climate change scenarios, calculation of flood loss/damage in multiple probability years, and high-resolution risk assessment services with a certain level of accuracy.” (*Our product was introduced as “to be released (as of March 1, 2023)” in this guide, but it has now been released and services are provided as “Climate Vision” and “Climate Vision Lite (Free version)“).

Source: https://www.mlit.go.jp/river/shinngikai_blog/tcfd/index.html