HSBC: Taps Google Cloud to monitor climate risks
- HSBC developed a new credit ranking tool capable of running multiple ‘what if’ climate risk scenarios simultaneously on Google Cloud
- The bank plans to use the tool to measure the impact of climate change risk on its trading book
- Identifying the capital requirements necessary to cover potential rating downgrades and default risk of credit products
- The system harnesses the power of cloud computing, where billions of data points are generated
- The computing power of Google Cloud makes it much quicker to run complex simulations for many different
- Digital development team built this innovative capability in less than five months in collaboration with Google Cloud
