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
Research
Financial Benefits of Repurposing Maharashtra's Old Coal Plants
Repurposing old coal plants could yield Rs. 5,700 cr. in benefits
VIEW ALL
Data Dashboards
Banks climate risk preparedness
The Indian banking system needs to be prepared for the systemic financial risk that climate change poses. This dashboard is a first-of-its-kind initiative by Climate Risk Horizons which assesses India’s largest banks’ climate-related risk preparedness based on publicly available information. Each bank is graded against 10 criteria based on their disclosures during the financial year.
VIEW ALL
News & Events
Press Release
In the News
Clean savings: ₹5,700 Crore benefit for Maharashtra from repurposing old coal plants for clean energy
07 Dec, 2022
Mumbai, December 7, 2022: Repurposing some of Maharashtra’s oldest and most expensive coal plants by using the land and some of the old coal infrastructure for clean energy and grid stability services can deliver ₹5,700...
READ MORE
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.

Vinuta Gopal
Director
Vinuta Gopal
Director
Vinuta is a founder and Chief Executive Officer of Asar Social Impact Advisors. She has more than 20 years of experience in environmental and justice issues in India. Before joining Asar, Vinuta was Interim Executive Director and Program Director of Greenpeace India. She is a Chartered Accountant by qualification.

Brikesh Singh
Director
Brikesh Singh
Director
Brikesh is a mobilisation strategist at Asar. His expertise includes conceptualising, planning and implementing innovative and engaging mobilisation strategies. He is a networker and skilled communicator with two decades of experience in the field.

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.

Abhishek Raj
Sustainable Finance
Abhishek Raj
Sustainable Finance
Abhishek is a business undergraduate and has cleared all three levels of CFA. He holds the Sustainability and Climate Risk (SCR™) certificate, issued by Global Association of Risk Professionals and has a background in financial planning & analysis at Societe Generale. He believes that overcoming information asymmetries in the finance sector is key to build resilience towards climate risks and facilitate the transition to net zero carbon.

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.
Get in Touch
Climate Risk Horizons
4th Floor, Umiya Emporium,
Opp. Forum Mall, Hosur Main Road, Koramangala,
Bengaluru 560029,
Karnataka, INDIA