ICE Acquires Urgentem to Expand Climate Risk Offering

​Intercontinental Exchange (ICE), a leading global provider of data, technology and market infrastructure, announced it has expanded its climate risk offering with the acquisition of Urgentem, a provider of global corporate emissions and climate transition data. 

Urgentem's data and analytics will enable ICE to quickly expand its climate risk offering to include extended coverage of global public and private companies across new geographies, scenario risk analysis and stress testing for fund managers and banks.

"With the increased focus on climate change and the transition to a carbon-neutral economy, the investment community requires more transparency into corporate emissions and climate risk," said Elizabeth King, Chief Regulatory Officer and President of Sustainable Finance at ICE. "Urgentem's broad database and sophisticated modelling analytics will quickly expand our offering, and together with ICE's physical climate risk solutions, will provide a full suite of sustainable finance services."

"As investors navigate the evolving landscape around corporate ESG reporting, data has been a lynchpin for helping benchmark where companies are today, and understanding their transition plans for the years ahead," said Urgentem's Chief Executive Officer Girish Narula. "We're excited to join ICE's team of product developers and data scientists to offer impactful ESG data for the financial community, and to provide services that can help manage climate risk and comply with global regulatory requirements."

Terms of the transaction were not disclosed, and the financial impact will not be material to ICE or impact its capital return plans.