The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have developed a blueprint for a platform to integrate regulatory and climate data, aiding financial authorities in managing climate risks.

Called Project Viridis, the blueprint details key features for a climate risk platform, including data on financed emissions, physical risk exposure, and forward-looking climate scenarios.

Celine Sia, Assistant Managing Director at MAS, noted: "Project Viridis shows how regulatory data can be integrated with climate data, extracted from corporate disclosures using natural language processing. This provides insights into climate-related financial risks, helping authorities assess financial institutions' risk exposures and identify areas needing further evaluation."

The Viridis platform is based on the Ellipse Data and Knowledge Platform (EDKP), developed by the BIS Innovation Hub Singapore Centre and MAS under Project Ellipse. The EDKP integrates data from various sources and is being updated with new data from over 15 central banks and financial regulators worldwide.