Climate change has become as a major threat in the world and its associated risks have gained a wider attention in the global discourse over the years. These risks pose danger not only to lives and assets but also to global sustainable development. To facilitate multi-stakeholder climate risk management, a comprehensive methodical climate risk assessment is required for effective classification and quantification of the risks.

In response to the need for an integrated evaluation of climate risks, the Carbon Neutrality and Climate Finance Laboratory of the CAS Research Center on Fictitious Economy & Data Science has formally introduced the Global Climate Risk Integration Database (GCRID). The primary objective is to create an open and collaborative data platform, enhancing support for global and national climate governance and energy transition initiatives.

It took over two years to build a comprehensive GCRID using cutting-edge artificial intelligence technologies, including deep learning and natural language processing. GCRID has integrated over 30 million pieces of unstructured textual data, statistical data, and web search data to develop independent sets of climate risk indices including: climate physical risk index, climate policy uncertainty index, managerial climate attention index, climate risk impact index, climate change news index, climate risk concern index, climate risk perception index, and corporate biodiversity indices.

The systematically developed indies provide robust quantitative measurements of the various categories of climate risks including physical risks, transition risks, and financial risks. The database offers climate risk assessment in multiple ways and allows for detailed climate risk mapping at global, national, regional, city, sectoral, industries, and firms levels. GCRID contributes to improving climate governance, providing evidence on risk management decision making and assisting energy transition in government, business, and investment contexts.