Financial Analysis for a Changed World
Our expertise lies in identifying and analysing the impact on investment value that the climate crisis is already exerting, and how this is likely to play out over longer time horizons.
Our Analysis


Data Dashboards
Climate Risk Preparedness Among India's Largest Asset Management Companies
Indian Asset Management Companies (AMCs) are entrusted to manage billions of rupees in mutual funds. As climate risks worsen, the financial risks to their portfolios mount. This dashboard by Climate Risk Horizons assesses the climate preparedness of India's top 12 AMCs. Each AMC is scored on ten climate indicators based on publicly available information.
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Blog
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Why Indian Banks are Falling Behind in the Sustainable Finance Race
India’s banks must act now to lead the country’s low-carbon transition.
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India’s Carbon Market Needs More than Good Intentions to Succeed
India’s carbon market holds immense potential, but systemic flaws and unaddressed challenges risk turning a climate solution into a greenwashing facade.
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Hydropower sector in India must deal with escalating climate risks
India’s hydropower sector faces mounting climate risks, demanding urgent action to enhance resilience, modernize planning, and diversify financial mechanisms.
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WHAT WE BELIEVE
Financial stability is dependent on ecosystem stability.
The climate crisis poses threats to both financial and environmental systems. These threats arise directly from climate change itself, and indirectly from changes in the socio-political economy that are propelled by the climate crisis.
Given the over-arching nature of climate change impacts, risks manifest in varying ways, from changing physical conditions due to altered weather patterns to evolving policies impacts and the loss of social license for industries that were once considered foundations of the economy.
OUR TEAM

Ashish Fernandes
CEO & Lead Analyst
Ashish Fernandes
CEO & Lead Analyst
Ashish has over two decades of international experience in the ESG sphere. He believes that the financial sector is not prepared to mitigate the value destruction that will accompany rapid climate change and associated environmental & social upheaval. Ashish is an alumnus of St. Xavier’s College, Mumbai, where he studied Economics.

Harshit Sharma
Lead Researcher
Harshit Sharma
Lead Researcher
Harshit has research experience on air pollution and the power sector, particularly on coal and related environmental issues. He strives to use his research and analytical skills to bring regulatory and policy changes favourable for a smoother and faster energy transition. Harshit holds a Master’s degree in Conflict Management and Development and is based in Delhi.

Sagar Asapur
Sustainable Finance
Sagar Asapur
Sustainable Finance
Sagar is a post-graduate in Carbon Finance from University of Edinburgh Business School, UK, with over a decade of experience in the environmental sector. He believes that the financial industry can have a positive impact in the societies and economies for a sustainable future.

Vishnu Teja
Energy Researcher
Vishnu Teja
Energy Researcher
Vishnu has 6+ years of experience in the field of data analytics and holds a Master's degree in Environmental and Resource Management, from TU Freiberg, Germany. He seeks to use the power of data to understand how India can develop a sustainable and economically viable climate change mitigation plan.

Divya Chirayath
Communications
Divya Chirayath
Communications
Divya has research and communications experience in the think tank sector and has worked at prestigious institutes such as TERI and the Barefoot College.

Anusha Das
Analyst, Sustainable Finance
Anusha Das
Analyst, Sustainable Finance
Anusha did her undergraduate studies in economics from Presidency University, Kolkata and worked as a Statistical Officer for the Government of India where she analyzed India's energy sector. This ignited her passion for climate action, leading her to study Public Policy at NLSIU, Bangalore. With her experience with economic frameworks, Anusha aims to explore innovative metrics that incorporate climate realities and help drive greener decision making.

Arundhati Muthu
Analyst, Sustainable Finance
Arundhati Muthu
Analyst, Sustainable Finance
Arundhati has over a decade of experience working on environmental issues with a focus on climate change and India’s energy transition. Her current focus is to produce research and analysis that supports financial actors in India in moving towards sustainability at the pace and scale required to address the climate crisis. She has an undergraduate degree in Physics and a Masters degree in Computer Science.

Ritaj Kalaskar
Research analyst
Ritaj Kalaskar
Research analyst
Ritaj has an interdisciplinary background in urban studies, international affairs, world history, economics and literature. He has worked in a range of projects from affordable housing, low-carbon construction, ecological restoration and environmental planning at Auroville. He completed his postgraduate studies from the Indian Institute for Human Settlements where he focused on energy transitions, urban infrastructure and climate policy.

Rakesh Ranjan
Consultant
Rakesh Ranjan
Consultant
Dr. Rakesh Ranjan Kumar is an Economist with a PhD in Development Studies from Jawaharlal Nehru University, Delhi. He also has an MPhil in Development Economics. He has taught undergraduate courses at a number of Universities across India and has extensive research experience in the development sector. His current research focus is on the Green Transition and Public Policy.
Get in Touch
Climate Risk Horizons,
c/o WeWork,
Site No. 26, Laskar Hosur Road,
Adugodi, Bengaluru, Karnataka,
560029