This week’s open-source project isn’t a development tool, but rather a community of collaborators working together to build a software platform to “boost capital flows into climate change mitigation and resilience,” called OS-C.
OS-C is a Linux Foundation project that hopes to create a model that can be used to enable applications used for climate-integrated investing.
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“The OS-C technology platform will accelerate development of scenario-based predictive analytic tools and investment products that manage climate-related risk and finance climate solutions across every geography, sector, and asset class. The OS-C Open Source organization will enable alignment of the stakeholder community on priority data and modeling needs, focus shared resources on executing those priorities, and accelerate adoption,” the project’s website states.
Part of the project is the goal of building the OS-Climate Data Commons, which will bring together structured and unstructured data, such as SEC filings, corporate PDFs, and scientific and market research.
Red Hat recently joined the project to contribute technical knowledge and resources. According to Red Hat, there is a $1.2 trillion annual gap in investment that needs to be closed in order to meet the goals of the Paris Climate Accord, and it believes OS-C can help bridge that gap.
“Developing a common way to understand and model the impact a business has on the climate is the kind of challenging endeavor best suited to broad-scale industry collaboration. By bringing our technical and community expertise to OS-Climate, we’re able to help bring open, collaborative standards to bear to help tackle one of the world’s most critical issues,” said Chris Wright, senior vice president and CTO of Red Hat.