Every company evaluating climate risk starts with the same question: is there a free tool that already does this? There is a genuinely useful set of public, no-cost screening tools. This guide lists them honestly, including where they stop being enough for financial-grade decisions.
Free Screening Tools Worth Knowing
World Bank Climate Risk Screening Tools (CRAT)
Visit →Country and sector-level exposure to climate hazards, built for development-finance screening rather than asset-level underwriting.
ThinkHazard!
Visit →A GFDRR project that gives a qualitative hazard rating (low/medium/high) for a location across nine hazard types - a good first screen, not a financial figure.
Climate Analytics Climate Impact Explorer
Visit →Scenario-level warming and impact projections at country and regional scale, useful for understanding pathways, not for pricing individual assets.
First Street Risk Factor
Visit →Free, address-level flood, fire, heat, and wind ratings for individual US properties - the most asset-specific free option, though scope is limited to US residential and does not include a financial VaR output.
UK Met Office UKCP
Visit →Free UK climate projections and training data for understanding how local climate is expected to change - a scientific dataset, not a risk-scoring tool.
Where Free Tools Stop
These tools are genuinely useful for an initial screen, and the free-tier options above are worth using before buying anything. They typically stop short in the same three places: (1) resolution - regional or national estimates, not the specific facility or property on your balance sheet; (2) output format - a qualitative rating or hazard map, not an audit-ready financial figure like Expected Annual Loss or Climate Value-at-Risk that a risk committee or auditor can use directly; (3) monitoring - a point-in-time snapshot, not continuous tracking as conditions change.
Where Asset-Level Analysis Begins
Floodlight measures physical and transition climate risk at the asset level from satellite observation, and expresses it as Climate Value-at-Risk in the same units your risk committee already uses for market and credit VaR - alongside satellite-verified emissions in the same platform. If a free screening tool has told you a region or property carries elevated risk, Floodlight is the next step: an asset-level, audit-ready, continuously monitored figure.