Intercontinental Exchange acquires climate risk analytics firm

Intercontinental Exchange (NYSE:ICE) has acquired climate risk analytics firm, Urgentem.
Financial terms of the deal were not disclosed. The acquisition will help enhance ICE's global sustainable finance offering.
Urgentem provides global corporate emissions and climate transition data to the finance industry. Using Urgentem data and analytics, ICE will expand its climate risk offering to include extended coverage of global public and private companies across new geographies, scenario risk analysis and stress testing for fund managers and banks.
The financial impact will not be material to ICE or impact its capital return plans.
On Tuesday, The New York Stock Exchange, part of Intercontinental Exchange (ICE), formed the NYSE Institute to serve as a voice for U.S. capital markets and NYSE-listed companies.
Read a recent bullish analysis on the stock here