Climate X and 4most team up to tackle climate risk for Middle East banks
Climate risk analytics company Climate X has announced a strategic partnership with 4most, aimed at delivering comprehensive climate risk management solutions for banks across the Middle East.
The partnership addresses the growing need for financial institutions in the Middle East to understand, quantify, and manage physical climate risks as regulatory frameworks evolve and extreme weather events increasingly impact asset portfolios. Banks in the region are facing mounting pressure to demonstrate climate resilience whilst identifying new business opportunities in the transition to a more sustainable economy.
Backed by Google Ventures, Climate X is the leading risk intelligence platform empowering financial institutions to turn climate risk into resilient returns. The platform is used by dozens of financial institutions worldwide, who combined manage over $47 trillion in assets.
Founded in 2011, 4most is a consulting firm dedicated to the financial services sector, with a focus on credit risk, insurance, data, and market risk. 4most has five offices in the UK and Europe, and one in the Middle East.
4most and Climate X will collaborate to enable banks to translate complex climate hazard data into actionable financial insights. Climate X’s Spectra platform will provide data-driven insights, while 4most’s methodology for regulatory compliance and risk management will ensure these insights are effectively implemented within existing banking frameworks.
Reflections of leaders
Lukky Ahmed, CEO and co-founder of Climate X, commented: “The Middle East represents a critical market for climate risk management as financial institutions across the region grapple with increasing physical risks from extreme heat, flooding, and other climate hazards. Our partnership with 4most will accelerate the adoption of robust climate risk analytics amongst regional banks, helping them transform regulatory requirements into long-term resilience.”
Daniel Mclean, Client Partner at 4most said: “4most has a proven track record of delivering risk and modelling solutions within the region. Combining this experience with Climate X’s data-driven climate-risk analytics, we bring a powerful toolkit that enables banks to embed climate risk directly into credit policies, lending decisions, and strategic planning.”
“In the face of rising regulatory expectations, this is not just about compliance – it’s about creating a genuine competitive advantage. Together, we can help lenders anticipate risks, unlock new opportunities in sustainable finance, and position themselves as leaders in a rapidly evolving market.”
Daniel Hensel, Client Partner at 4most added: “There is increasing momentum around ESG integration across the GCC region. At 4most, we are actively supporting clients in navigating ESG-related challenges, particularly around accessing reliable climate data to inform credit decisioning and meet evolving regulatory expectations.”
“Through our partnership with Climate X, we combine their cutting-edge climate data and analytics with 4most’s deep regulatory expertise to deliver a truly differentiated value proposition. We are excited to bring this collaboration to our clients in the region.”
