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Merge pull request #85 from os-climate/finos-announcement
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docs: Important OS-Climate project announcement
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ModeSevenIndustrialSolutions authored Jun 26, 2024
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> [!IMPORTANT]
> On June 26 2024, Linux Foundation announced the merger of its financial services umbrella, the Fintech Open Source Foundation ([FINOS](https://finos.org)), with OS-Climate, an open source community dedicated to building data technologies, modeling, and analytic tools that will drive global capital flows into climate change mitigation and resilience; OS-Climate projects are in the process of transitioning to the [FINOS governance framework](https://community.finos.org/docs/governance); read more on [finos.org/press/finos-join-forces-os-open-source-climate-sustainability-esg](https://finos.org/press/finos-join-forces-os-open-source-climate-sustainability-esg)
# ITR Data Pipeline

The OS-Climate project is building a suite of Portfolio Alignment tools, the first of which is an [Implied Temperature Rise (ITR)](https://github.com/os-climate/ITR) tool. The need for climate-aligned investment tools has been obvious for some time and is articulated clearly in this [Manifesto](https://www.bankofengland.co.uk/news/2019/april/open-letter-on-climate-related-financial-risks) published by Governor of Bank of England Mark Carney, Governor of Banque de France François Villeroy de Galhau and Chair of the Network for Greening the Financial Services Frank Elderson. Subsequently a working group developed methodology for creating a Temperature Alignment score based on a company's usage of their fair (or not) share of the remaining global carbon budget. The ITR tool calculates those scores based on sector benchmarks, corporate production, emissions, emissions targets, and other factors.
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