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[PRESS RELEASE] DPC DATA Adds Climate Risk Data from First Street to Its Municipal Financial Data Platform
DPC DATA, which provides data and technology solutions for the municipal securities lifecycle, addresses growing demand for data to support sustainable investing decisions by adding cutting-edge ESG scoring to its data service offerings. Users, who range from issuers to institutional investors and market regulators, can now more accurately assess location-based risks from climate effects and other critical factors.
ROSELAND, N.J. – May 1, 2024 – PRLog — DPC DATA (DPCDATA.com)
First Street (FirstStreet.org)
The new data offering comes in response to rising concerns from municipal market participants about the potential impact of climate change on local property values, and therefore, on municipal issuers’ property tax bases.
“This new data partnership re-affirms our goal of being a climate risk data platform for the municipal market. The First Street scoring methodology, with its forward-looking approach, is the gold standard in climate risk scoring systems and we are excited to bring this data to our clients,” said Ken Hoffman, DPC DATA President.
“The ongoing property insurance crisis in many states is the latest sign that climate risk is starting to, quite literally, hit home. Since both financial data and climate data will be available on the same integrated platform, our users will be able to analyze climate exposure in the context of any municipal issuer’s overall fiscal resources,” Triet Nguyen, DPC Vice President of Strategic Data Operations, pointed out.
“We’re excited about our partnership with DPC DATA, leveraging our property-specific climate risk data to aid municipal credit analysis and risk management. This partnership embodies why we founded First Street, to contribute to a future where investment choices are both environmentally and economically prudent,” said Dr. Jeremy Porter, Head of Climate Implications at First Street.
Mapping Climate Risk to Individual Bonds (Cusip 9 Level)
The data will include hazard exposure metrics for key environmental perils (Flood, Wildfire, Wind, Extreme Heat, and Air Quality) at the county, city, or census tract level, incorporating risk changes due to climate change today and 30 years from now.
This data will be available initially as a stand-alone data feed. DPC’s ground-breaking MuniCREDIT Obligor Identification methodology will enable users to directly link climate risk scores to municipal obligors and bond issues at the individual Cusip-9 level.
About DPC DATA
DPC DATA has served the municipal bond marketplace with disclosure information and solutions since 1992. The company was a pioneer in developing solutions for the municipal securities lifecycle. DPC was one of the original SEC-designated Nationally Recognized Municipal Securities Information Repositories (NRMSIRs). Today, DPC DATA helps clients who sell or manage fixed income products get the scrubbed, accurate, and actionable data they need, in streamlined workflows, so that they can manage risk, improve productivity, sell more, and avoid regulatory penalties.
DPC DATA products are used by more than 100,000 professionals at leading brokerage, clearing, and advisory firms. For more information visit http://www.DPCDATA.com or email Sales@DPCDATA.com.
About First Street Technology
First Street Technology, Inc. is a research and technology public benefit company working to connect climate change to financial risk. First Street uses transparent, peer-reviewed methodologies to calculate the past, present, and future climate risk for every property in the United States and makes it available for citizens, industry, and government. First Street provides the most in-depth, property-specific, climate risk assessment possible in an easy-to-understand user interface. First Street’s best in class models let you know your risk from flooding, wildfire, extreme hurricane winds, extreme heat and air quality.
For more information, please visit https://firststreet.org.
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