Suggestions
Rich Sorkin
Founder and CEO, Jupiter; Visionary leader commercializing science and technology.
Rich Sorkin is the Chairman, CEO, and Co-founder of Jupiter Intelligence™, a global leader in physical climate analytics for risk management and resiliency planning.
With a background as a serial entrepreneur, executive, board member, and investor, Mr. Sorkin has a deep focus on commercializing transformative technologies in various sectors including energy, financial services, the environment, media, and government.
As the CEO of Jupiter, he has testified before the United States Congress, spoken at major global events, and contributed to the climate risk working group of McKinsey & Company.
Mr. Sorkin founded multiple startups, chaired Zip2 (acquired by HP) and led Kaggle (acquired by Google) in introducing big data predictive analytics to the enterprise market.
His career started at NASA, followed by Bain & Company, and led to significant roles at Creative Labs, among other companies, where he drove substantial revenue growth.
An alumnus of Yale University and Stanford Graduate School of Business, Mr. Sorkin has also served on the boards of public companies, private firms, and non-profit organizations.
Highlights
Are your renewable energy investments ready to withstand the impact of climate change?
Major issues Jupiter has already addressed with some of the world’s largest wind and solar investors, owners, operators and lenders.
Wind issues
Acute wind speeds cause partial or total asset failure.
Acute heat - Standard wind power installations are designed to shut down above specific temperature thresholds to protect critical components from additional wear and tear.
Waves - Increased wave power can make maintenance and repair activities more challenging and potentially dangerous. Safe access to turbines for technicians and service vessels becomes a critical consideration.
Coastal Erosion - Sea level rise contributes to coastal erosion, which can affect the stability of seabed structures supporting wind turbines.
Solar issues
Chronic heat - The efficiency of a solar panel generally degrades above defined tempersture thresholds.
Hail - Hailstones exceeding a specific size can cause material damage to solar panels.
Solar radiation - Reduced solar radiation decreases the output of solar farms.
Katie McClain John Tough Jeff Schmidt Marie Gravel, M.Sc., CFA Jeremy Oppenheim Irena Spazzapan Kathy Matsui Yosef Abramowitz David Arfin Angie Atkins Julia Cadaval Martins Lindsey Doyle Gillian Caldwell Pallavi S. Tom Beloe Achim Steiner Todd Stern Sébastien Burgess Stuart Large Dawn Lippert
Important
What really happens to consumers when insurers pull out of markets like California and Florida?
Over the last few months, the media has been covering the issue of climate change impact on insurance markets. An important question is what really happens to consumers when firms like Allstate and State Farm reduce their coverage.
Realistically, the coverage becomes significantly worse - essentially the market appears to still be functioning, when in reality it is quite broken.
Brianna Sacks at The Washington Post has an excellent piece on the impacts to Florida consumers let down by "United Property and Casualty" and the State of Florida. Balance sheet strength matters a lot - and typically the ones with strongest balance sheets are the first to exit markets where regulators don't permit pricing that makes sense. They may appear to be helping consumers, but in reality they're making the problem worse.
Rebecca Hersher Nathan Rott Cheryl Winokur Munk Christopher Flavelle
