risQ

What risQ does

risQ is a Cambridge, Massachusetts-based climate risk analytics firm founded in 2016 that translates complex physical and transition climate risks into financial insights for municipal debt and broader capital markets stakeholders. The company built a cloud-based analytics platform combining physical risk metrics derived from global climate models (hurricane wind, wildfire, coastal/fluvial/pluvial flooding, extreme heat, extreme cold) with transition risk data covering Scope 1, 2, and all 15 categories of Scope 3 emissions, Implied Temperature Rise (ITR), and company-specific GHG reduction targets, producing Climate Value-at-Risk outputs aligned with NGFS, IPCC, IEA, and SSP/RCP scenarios.

The platform's underlying technology uses machine learning to estimate global building characteristics and derive damage functions across 1.6 billion building footprints, with hazard data extracted at the building level for three climate scenarios and aggregated up to corporates, sovereigns, mortgage pools, and real estate portfolios. Coverage as of early 2025 spans 30,000+ public companies, 5+ million modeled private companies, 1.8+ million securities, 245,000 sovereign bonds across 200+ countries, 105 million RMBS loans, 650,000 CMBS properties, and 100+ million U.S. residential and commercial properties.

risQ is now integrated into Intercontinental Exchange's Fixed Income and Data Services division and marketed as "ICE Climate," distributed via ICE's enterprise field-sales organization and the WebICE browser platform under a quote-based, consultative pricing model targeting large financial institutions, asset managers, sovereigns, municipalities, and corporates. Use cases center on ISSB/TCFD/PCAF regulatory compliance, climate stress testing, corporate engagement on climate resilience, and investment-strategy portfolio tilts; named customer Loomis Sayles illustrates enterprise adoption for investment decision-making.

Name

risQ

Legal name

Intercontinental Exchange, Inc.

Website

https://risq.io

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

risQ is a Cambridge-based climate risk analytics firm founded in 2016 that models physical and transition climate risks into financial insights for municipal debt and capital markets stakeholders, now operating as ICE Climate within Intercontinental Exchange's data services division.

Ownership category

akta.pro rank

Product category

Climate Risk Analytics

NAICS

Portfolio Management and Investment Advice (523940), Environmental Consulting Services (54162), Finance and Insurance (52)

SIC

Investment Advice (6282)

akta.pro primary industry

Financial Climate Stress Testing & Portfolio Analytics (Banks, Asset Managers, Insurers) (EUABALAE)

akta.pro secondary industries

Climate Risk Reporting & Disclosure Analytics (TCFD/ISSB, EU Taxonomy, CSRD, NAIC) (EUABALAG), Asset- & Location-Level Exposure/Vulnerability Analytics (Geospatial, Digital Twins, Critical Infrastructure) (EUABALAC), Climate Risk & Scenario Analysis (TCFD/IFRS S2) (EUAHAJAD)

Keywords

• Climate risk analytics
• Physical risk assessment
• Transition risk modeling
• Climate value at risk
• Sustainable finance data

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Climate Risk Data & Analytics Subscription: ICE Climate provides climate risk data and analytics as a B2B subscription service to financial institutions, asset managers, and corporates. Pricing is enterprise/quote-based, with data sold as part of ICE's broader Fixed Income and Data Services division.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

risQ (now operating as ICE Climate) provides a climate risk analytics platform that quantifies climate-related financial risks—including Climate Value-at-Risk, revenue impairment, and stress testing—for public and private companies, sovereigns, municipalities, MBS pools, and real estate portfolios. It combines physical risk metrics derived from global climate models with transition risk data on emissions and reduction targets to support scenario analysis across multiple asset classes.

Product overview

ICE Climate Risk is a unified climate risk analytics platform offering Physical Risk Metrics, Transition Risk Data, and Climate Value-at-Risk (Climate VaR) capabilities. The platform integrates Forward-Looking Scenarios aligned with NGFS, IPCC, and IEA standards, supplemented by Nature & Biodiversity Risk and Avoided Emissions Analysis. It provides PCAF/ISSB-compliant reporting with TCFD alignment, and offers specialized Sovereign Decarbonization Tracking. The platform covers 1.6 billion buildings, 30,000+ public companies, and 5 million private companies with global physical risk exposure datasets.

Differentiator

Problem solved

Functional benefit

Products and services

• ICE Climate Risk Climate risk analytics platform that quantifies climate-related financial risks including Climate Value-at-Risk, revenue impairment, and stress testing for public and private companies, combining physical risk metrics from global climate models with transition risk data on emissions and reduction targets. Used by financial institutions, asset managers, and corporates for scenario analysis across corporates and sovereigns.

Quantifiable outcome

• 17,000 global companies covered for Climate Value-at-Risk metrics
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Scale indicators11 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• MSCI: MSCI offers ESG and Climate Solutions (e.g., MSCI Climate Value-at-Risk, Implied Temperature Rise, ESG ratings) serving the same institutional asset manager and asset owner base with overlapping physical/transition risk analytics. Direct competitor to ICE Climate for portfolio-level climate risk quantification.
• S&P Global Sustainable1: S&P Global Sustainable1 (including Trucost) provides carbon emissions data, Climate Credit Analytics, and physical risk scoring for corporates and sovereigns. Competes head-to-head with ICE Climate for institutional ESG/climate data budgets.
• Moody's (Four Twenty Seven): Moody's acquired Four Twenty Seven to provide physical climate risk exposure scoring at the asset level for real estate, mortgage, and corporate portfolios. Direct competitor for asset-level climate exposure analytics integrated with credit and ratings workflows.
• Jupiter Intelligence: Jupiter Intelligence provides asset- and portfolio-level physical climate risk analytics covering flood, wildfire, hurricane, and heat hazards globally. Closest like-for-like competitor to ICE Climate's Physical Risk Metrics and Climate VaR offerings.

Broad incumbents

• Bloomberg ESG Data: Bloomberg's ESG Data product offers emissions, climate, and sustainability datasets integrated into the Bloomberg Terminal used by the same financial institution buyers. Broad incumbent that competes through workflow integration rather than specialized analytics depth.
• LSEG (Refinitiv) Sustainability: LSEG (formerly Refinitiv) provides ESG and climate data through its Data & Analytics platform serving the same buy-side and sell-side financial clients. Broad incumbent offering overlapping emissions and climate risk data.

Emerging players

• Cervest: Cervest provides AI-powered climate risk analytics (EarthScan) covering physical and transition risks for assets, locations, and portfolios. Emerging specialist competitor to ICE Climate with similar asset-level granularity focus.
• Climate X: Climate X offers location-specific physical climate risk data and analytics for financial institutions, real estate, and infrastructure. Emerging specialist with comparable asset-level hazard and loss modeling capabilities.
• Acclimatise: Acclimatise provides climate risk advisory and analytics for financial institutions, governments, and corporates, including physical risk and transition scenario analysis. Specialist advisory peer with overlapping service offerings for institutional clients.

Others

• Munich Re NatCatSERVICE: Munich Re's NatCatSERVICE provides natural catastrophe loss data and analytics used by insurers and reinsurers. Adjacent data provider rather than direct competitor, but its hazard and loss datasets are used in similar physical risk modeling workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about risQ