Hey there, climate enthusiasts! 🌍 China's National Meteorological Information Center (NMIC) and the Zhengzhou Commodity Exchange just dropped something big on Monday—a brand new Temperature Index! 🌡️✨
This innovative index is here to help the agriculture and energy sectors hedge against weather and climate risks. Think of it as a superhero 🦸♂️ for farmers and energy providers, enhancing risk management in the financial markets. 📈💼
The NMIC says this index is built on a national-level platform tailored to the real economy's needs. It mixes high-resolution temperature data, historical electricity consumption records, and financial market demands into one powerful tool. 🛠️💡
How cool is this? The index uses hourly temperature changes dating all the way back to 1991! 🕰️ It sets different benchmark temperatures for cooling and heating degree-time indices, making it super precise. 🎯
Even cooler (pun intended 😜), the Temperature Index began its trial run in September 2024 across 53 benchmark locations along the Yangtze River. 🚢🌊
Right now, they've set up a standardized temperature index processing system based on the meteorological big data cloud platform called \"Tianqing.\" ☁️📊 It's got a full-process monitoring system using \"Tianjing,\" their real-time monitoring system. Plus, it factors in data from the China Meteorological Data Network. 🌐
The index publishes six sub-indices in real-time, including daily average temperature index, cooling index, and heating index. So whether you're wearing shades 🕶️ or bundling up 🧣, they've got you covered!
Reference(s):
Temperature Index launched to hedge against weather and climate risks
cgtn.com
