Synechron teams up with climate risk network Green RWA

20 October 2021 2 min. read

Green RWA, a non-profit that advises the financial services sector on better addressing climate change risk, has named global consulting firm Synechron one of its partners.

London-headquartered Green RWA was founded last year with the ambition of supporting the financial services sector with its transition to a greener future, including achieving the EU taxonomy and net zero emissions by 2050. Green RWA focuses on the management of climate risk capital budgets, providing institutions with models and tools that support decision-making. 

As an official partner, Synechron will provide its expertise to Green RWA in order to help advance the latter’s offerings. Olivier Vinciguerra, Chairman & Co-founder of Green RWA said: “Synechron is a well-respected leader in the financial services consulting industry. We are looking forward to leveraging Synechron’s skills and network to expand the Green RWA toolbox.” 

Synechron teams up with climate risk network Green RWA

At the heart of the toolbox is a model that enables banks to measure their climate change risks across asset classes, and another model that helps them rebalance their climate risk capital. Models were developed by world-class experts in the field, including Josselin Garnier, a mathematician and professor at École Polytechnique.

Synechron’s contribution is led by its Sustainable Finance & ESG practice, which works with clients on accelerating their sustainability transition journey, across areas including strategy, design, regulatory compliance and technology.

The professional services firm will also integrate the toolbox into its own service portfolio, meaning that its clients across the globe (Synechron has 22 offices worldwide) will be introduced to Green RWA’s offerings and the benefits it can offer for climate change risk management. “Synechron will help us build awareness and recognition internationally,” said Vinciguerra. 

Meanwhile, for Synechron, the joining of forces will enable the firm to deepen its climate risk capabilities, explained Rajul Mittal, Head of the Sustainable Finance service line. “Green RWA’s Climate-extended Risk Model (CERM) framework will help Synechron assist financial enterprises in deploying climate metrics and related quantitative disclosures for better risk mitigation.” 

“Sustainable finance has become a mainstream focus for the financial services industry worldwide. We are therefore thrilled to partner with Green RWA for the benefit of our climate-aware financial services clients.”