Climate analytics firm Risilience has been awarded The King’s Award for Enterprise in recognition of its contribution to the growing climate-technology sector.
Chosen for the positive impact of its climate-analytics platform, Risilience is one of only 47 companies in the UK to win an award in this year’s prestigious ‘Innovation’ category, which recognises businesses that demonstrate strong, commercially successful and innovative products or services.
Risilience’s climate-analytics platform turns data into actionable insights, empowering organisations to understand and quantify the scope, magnitude and timescale of climate risk in relation to their strategies and operations. This allows companies to measure and balance the potential financial impacts with the cost of transitioning their business to operate more profitably in a low-carbon economy.
Incubated at the Cambridge Centre for Risk Studies at the University of Cambridge Judge Business School, Risilience now works with many of the enterprise world leaders in transforming themselves for the low-carbon economy, including Nestlé, Burberry, Coca-Cola Europacific Partners, Reckitt, easyJet and Tesco.
Its digital-twin technology enables businesses to understand in financial terms the impact of numerous transitional and physical risks on their organisation, including increasing regulation, threats from litigation and changing consumer sentiment. Collectively, climate-related risks could reduce business value by up to 30 per cent if companies fail to act.
Risilience’s CEO, Dr Andrew Coburn, commented: “It is extremely gratifying to have our technology honoured and recognised with such a prestigious accolade as The King’s Award for Enterprise in Innovation. It marks another significant milestone for the business and is testament to the vision, dedication and hard work of the entire team at Risilience. It makes me extremely proud.
“At Risilience, we believe the road to net zero presents many opportunities when employing a science-based approach to managing climate-related risk. With companies under increasing pressure from investors and consumers, and new regulation, to understand, report and mitigate their potential climate impact, Risilience’s climate-analytics platform delivers a data-led and strategically sound journey towards true business transformation.”
Previously known as The Queen’s Awards for Enterprise, The King’s Awards for Enterprise is the country’s most prestigious awards for UK businesses; recognising and celebrating business excellence in innovation, international trade, sustainable development and promoting opportunity.
Risilience will shortly be presented with its award by His Majesty The King’s personal representative, the Lord-Lieutenant of Cambridgeshire, Mrs Julie Spence OBE QPM.