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Vancouver, British Columbia – October 29, 2024 – TheNewswire – AISIX Solutions Inc., (“AISIX” or “the Company”) (TSXV: AISX) (OTCQB: AISXF) (FSE: QT7), a frontrunner in climate risk assessment and modeling is proud to announce the successful completion of a groundbreaking climate risk pilot project with a leading Canadian financial institution. This initiative, designed to assess the institution’s commercial lending portfolio’s exposure to climate-related risks—specifically wildfires—has provided critical insights into how climate change could impact loan performance across several provinces in Canada.
The project directly addressed the OSFI B-15 guidelines, which require federally regulated financial institutions to assess and mitigate physical climate risks in their loan portfolios. AISIX applied advanced climate analytics and modeling tools to conduct a thorough Hazard, Risk, and Vulnerability Assessment (HRVA) in line with these guidelines. Using Monte Carlo simulations and physically-based wildfire models, AISIX assessed potential financial impacts under various climate scenarios.
“As the OSFI B-15 guidelines become a regulatory standard, this pilot project demonstrates AISIX’s ability to support financial institutions in meeting these requirements,” said Mihalis Belanits at AISIX Solutions. “We are helping institutions align with national climate risk standards while protecting their portfolios from future risks posed by climate change.”
The pilot project also provided actionable recommendations, such as client questionnaires to assess site-specific risks like wildfire proximity, and strategies to diversify loan distribution across regions to mitigate risk concentration. This project forms the basis for broader climate risk assessments, including other hazards such as floods and extreme weather, while supporting compliance with OSFI B-15 .
AISIX Solutions remains committed to delivering cutting-edge, data-driven solutions to help organizations navigate the evolving landscape of climate risks, ensuring both compliance and resilience in a changing world.
For more information about AISIX Solutions and its climate risk solutions, please visit www.aisix.ca or follow the Company on X (formerly Twitter) at @AISIXSolutions or on LinkedIn at linkedin.com/company/aisixsolutionsinc/
About AISIX Solutions
AISIX Solutions, is a leading global climate risk and data-analytics solutions provider trusted by organizations seeking a more predictive future. Leveraging the advancements of artificial intelligence, data analytics, and risk assessment, AISIX Solutions is on a mission to provide auditable, explainable, and defensible assessments to help businesses and communities protect their property, assets, and infrastructure from climate-related risks. By empowering organizations with real-time insights, AISIX Solutions aims to foster resilience and sustainability in the face of climate change.
For further information:
Mihalis Belantis, Chief Executive Officer
+1 (604) 620-1051
investors@aisix.ca
Forward Looking Statements
Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, the “forward-looking statements”) within the meaning of Canadian securities laws, and is subject to numerous risks, uncertainties, and assumptions, many of which are beyond the Company's control. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used to identify forward-looking information, including the Company’s expected product offerings, the functionalities of the AI Climate Risk Consumer Interface and the Company’s expected growth opportunities. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, the Company's ability to engage and retain qualified key personnel, employees and affiliates, the Company’s ability to obtain capital and credit on reasonable terms, the Company’s ability to compete and the Company’s ability protect its intellectual property rights.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also been assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking statements contained in this news release represent the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time.
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