2 Oracle Financial Services Climate Change Analytics Cloud Service (OFS CCA CS)

This chapter provides the functional and business overview of the Oracle Financial Services Climate Change Analytics Cloud Service workflow.

Figure 2-1 The OFS Climate Change Analytics Cloud Service Workflow

Oracle Financial Services Climate Change Analytics Cloud Service (OFS CCA CS) is a one-stop-shop-solution to help banks and financial institutions in their endeavor of complying with their climate change-related reporting and analytical requirements across the following standards and/or frameworks:

• The sustainability Disclosure Standard is issued by the International Sustainability Standards Board (ISSB) by the IFRS Foundation.
• European Sustainability Reporting Standard (ESRS) issued by the European Financial Reporting Advisory Group (EFRAG).
• Climate-related Disclosures issued by the U.S. Securities and Exchange Commission (SEC), USA.
• Task Force on Climate-related Financial Disclosures (TCFD) issued by The Financial Stability Board (FSB).
• Sustainable Finance Disclosure Regulation (SFDR) by the European Union

Note:

This standard uses draft/interim provisions, and requirements of ISSB, ESRS, and U.S. SEC standards/rules. Over time, application calculations and reports may change in line with updates made in these respective standards/rules.

The application supports compliance with these standards and/or frameworks by having specific and out-of-the-box analytics for the following reporting requirements:

• Greenhouse Gas (GHG) Emissions
• Climate Change Risk Management
• The Upstream and Downstream impact of Climate Change Risk
• Climate Change Targets, and Performance Evaluation
• Management Overview