Flood risk intelligence business Fathom has received a minority investment from global integrated risk assessment firm Moody’s Corporation. The investment, which will see Moody’s take a seat on Fathom’s Board of Directors, aims to develop Moody’s already complex climate considerations - as part of its commitment to help organisations make informed decisions on risk.
The investment is recognition of the huge, and growing, impact that flooding and climate change has on the global financial landscape as well as governmental decisions. Fathom’s unique data sets will power insights to inform ESG (environmental, social and governance) policy and help mitigate the potentially devastating socio-economic impact that flooding can have.
Dr Chris Sampson, Fathom's c0-founder, said: "National and regional economies, insurers and financial services all need flood mapping data they can rely on, as the impact of flooding can have extremely serious physical, financial and environmental consequences today, that will further be exacerbated by climate change and urbanisation. We’re delighted that the team at Moody’s has recognised this and understands the potential of our growing business.”
Fathom was formed out of the University of Bristol Hydrology Research Group, a world-leading authority in modelling flood risk
Stuart Whitfield, Fathom CEO, said: "Moody’s investment in Fathom is further testament to the quality of Fathom’s underlying technology and data and will enable us to accelerate our plans to become the world’s leading provider of water risk intelligence.”