A diversified portfolio and a single fixed asset don't carry physical climate risk the same way. Emmi measures each on its own terms: market-impact analysis for diversified holdings, and geospatial hazard data for assets that can't be diversified away.
Two outputs, built for different exposures.
Both outputs serve disclosure, and both inform investment decisions. What separates them is resolution and scope: one reads physical risk across a whole portfolio, the other at a single site.
Most portfolios need both.
Market-impact physical risk
Covers both acute and chronic physical risk, quantified through how markets have actually responded to shocks. Works for any company regardless of disclosed asset locations. Acute and chronic combine into Physical Value at Risk (PVaR), which adds to Transition Value at Risk (TVaR) to form Climate Value at Risk (CVaR): one number for total climate exposure.
Geospatial physical risk
Covers major acute hazards at a specific location. Quantifies how hazard intensity and frequency at that location are expected to change across warming scenarios and time horizons out to 2080, producing a location-specific Average Annual Loss (AAL). Built for assets and portfolios with geographic concentration, whether that's a single fixed-location asset or holdings concentrated in one region.
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