The Global Risks Alliance Financial services business league
Finance, insurance and development readiness

Making systemic risk legible to finance.

The Global Risks Alliance (GRA) is a nonprofit corporation registered in Nevada, United States, operating as a business league for the financial services industry. It translates evidence about interconnected physical, operational and technological risk into the questions that competent banks, insurers, investors, development lenders and supervisors ask before they decide. GRA prepares that evidence. It never lends, underwrites, rates, invests or approves.

Discuss finance readiness See what GRA never does
Institution
Nevada nonprofit corporation; business league for the financial services industry
Role
Finance, insurance and development-readiness interface of Nexus Consortiums
Produces
Exposure notes, protection-gap evidence, scenarios, readiness dossiers and diligence questions
Boundary
Readiness is not approval. Every financial decision stays with the competent institution
World mapThe world's land and country boundaries, for context.
distance to the nearest financial centreFarRegionalNearCentre

GRA · institution · fieldDESIGN FIGURE

Capital corridorsCorridors between twelve financial centres; cells shaded by distance to the nearest centre. Corridors are illustrative, not market data.

Sector platforms
21
21 established
Regions
6
In the consortium geography
Planned hubs
15
Coordination roles, not offices
Foundry systems
20
Shared evidence environment
01The Alliance

Where risk evidence becomes the questions finance, insurance and public finance ask.

The Global Risks Alliance (GRA) is a nonprofit business league of the financial services industry and a steward of the Consortium with the Global Centre for Risk and Innovation (GCRI). It reads systemic-risk evidence for finance, insurance and public finance.

About the Alliance

GRA · Readiness

Readiness ladder to handoff

Consortium · Governance · Councils · Membership · Instruments · Readiness · Programme year · Platforms · Standards · Reports · Take part · Eight services · Evidence to questions · Action Week · Programme states · The programme year · A national mission · Mission admission · Action Week · Publication authorised · The Nexus cycle · National Nexus · Joining as institution · Governance dialogues · Nexus Reports · Risk Academy · Finance readiness · The Nexus Consortium · Correction · De-risking case to lawful · Founding and institutional establishment · Constitutional amendment · Correction and contestability · Succession · Public interest and anti-capture · External authority hand-off · Lawful handoff of a · Funding · Public transparency · Nexus Universe gates G0 · Forming the annual agenda · Institutional membership of the · National company and project · Finance-readiness chain and GRA · Finance readiness · Risk layering · Catastrophe model · Parametric trigger · Bank stress test · Debt sustainability · NGFS scenarios · ISO 31000 · Private credit · ALM · Systemic cascade

A dossier climbs only as far as its evidence allows, and is released only on the programme owner's written direction.

  1. 01 Evidence

    1. 01Evidence assembledStart · GCRI and source ownersHazard, dependency and exposure evidence is assembled, each source with one evidence label.
    2. 02Scenarios comparedModel · The Global Risks AllianceA result is a range across scenarios, with what was not tested listed.

  2. 02 Checks

    1. 03Safeguards checkedGate · The Global Risks AllianceSafeguard questions are identified early, each with an owner.
    2. 04Diligence questions registeredRecord · The Global Risks AllianceEach finding is restated as the question a competent institution would ask.

  3. 03 Dossier

    1. 05Readiness dossierRecord · The Global Risks AllianceA rung not reached is shown as not reached, with the reason written down.

  4. 04 Release

    1. 06Written directionGate · The programme ownerThe programme owner names, in writing, the party that should receive the dossier.
    2. 07Release recordRecord · The Global Risks AllianceThe dossier goes out with its version, labels, open questions and limits on use.

  5. 05 Decide

    1. 08Institution decidesOutcome · The receiving institutionThe receiving party reviews independently and decides under its own authority.

Finance readiness · Lawful handoffs · Lawful handoffs on GRAAn outline of how the work is designed to run; it does not report the status of any decision or record.

Financial losses now start in the real economy.

The losses that test financial systems now begin outside them: in a flooded port, a failed grid, a cyber incident at a shared provider or a harvest lost to heat. Each institution sees its own slice of the exposure. Nobody sees the whole chain, and the evidence that would show it is scattered across sectors, borders and disciplines.

Shocks arrive through the real economy

Hazards, outages and supply failures reach balance sheets as defaults, claims, repricing and fiscal strain, often months after the event and through counterparties that were never assessed together.

Exposures are shared and concentrated

Banks, insurers, funds and sovereigns depend on the same assets, the same providers and the same models. A loss that looks contained in one institution can be correlated across many.

Evidence is not yet in financial form

Scientific and engineering evidence rarely answers the questions a credit committee, an underwriter or a supervisor must ask. Protection gaps stay unmeasured, and finance follows disasters instead of preparing for them.

02Live map

Activity and exposure, now

Night-time lights and population as a proxy for economic activity, beside the hazards that reach it, from NASA satellites, with elevation and live natural events. Switch layers, draw an area and export an image with its citations.

The interactive map needs JavaScript; the layer list and sources are below.

Layers 2

Activity and exposure

Latest available

NASA GIBS / EOSDIS · ASTER GDEM (METI, NASA) · Blue Marble (NASA) · © OpenStreetMap contributors (ODbL) · Natural Earth

Loading the latest NASA imagery.

Drag to move. Ctrl or ⌘ and scroll, pinch or the buttons to zoom; hover for the values under the pointer; reset returns to the region.

Activity and exposure, framed on the contiguous United States.Satellite and model products as NASA publishes them, each with its own date. They are indicators, not assessments of any place.

Data: NASA GIBS · ASTER GDEM · Blue Marble · © OpenStreetMap contributors · Natural Earth · NASA EONETSources and licences

  • We acknowledge the use of imagery provided by services from NASA's Global Imagery Browse Services (GIBS), part of NASA's Earth Science Data and Information System (ESDIS). Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • We acknowledge the use of imagery provided by services from NASA's Global Imagery Browse Services (GIBS), part of NASA's Earth Science Data and Information System (ESDIS). Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • VIIRS Black Marble night-time lights, NASA Goddard Space Flight Center; distributed by the NASA Level-1 and Atmosphere Archive and Distribution System (LAADS DAAC); imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • Center for International Earth Science Information Network (CIESIN), Columbia University. 2018. Gridded Population of the World, Version 4 (GPWv4): Population Density, Revision 11. NASA Socioeconomic Data and Applications Center (SEDAC). Licensed under CC BY 4.0. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). doi:10.7927/H49C6VHW. CC BY 4.0
  • VIIRS near-real-time products (flood, land surface temperature, snow cover, corrected reflectance), NASA LANCE; imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • NASA Fire Information for Resource Management System (FIRMS), VIIRS 375 m active fire product, NASA LANCE; vector tiles via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • ASTER GDEM is a product of METI and NASA (ASTER Global Digital Elevation Model V003, NASA LP DAAC); imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). Cite as: NASA/METI/AIST/Japan Spacesystems and U.S./Japan ASTER Science Team (2019). ASTER Global Digital Elevation Model V003. doi:10.5067/ASTER/ASTGTM.003. NASA open data
  • Made with Natural Earth. Free vector and raster map data @ naturalearthdata.com. Public domain
  • © OpenStreetMap contributors (ODbL), via NASA GIBS (coastlines, boundaries, roads and place names). Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). ODbL
  • Blue Marble, NASA Earth Observatory; imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • Context on the globe and flat map: coastlines, boundaries, roads and place names from NASA GIBS reference layers (OpenStreetMap data, ODbL, © OpenStreetMap contributors); Blue Marble imagery as an optional base; 3D terrain and the elevation read-out from the ASTER GDEM elevation colour index (5 m to 200 m classes, exaggerated for legibility). Boundaries are drawn as published and imply no position on any territory.
  • Globe: MapLibre GL JS 6.9.1, BSD-3-Clause, © MapLibre contributors.
  • Live events: NASA Earth Observatory Natural Event Tracker (EONET); events are indicative and keep their original source links.
  • NASA GIBS: We acknowledge the use of imagery provided by services from NASA's Global Imagery Browse Services (GIBS), part of NASA's Earth Science Data and Information System (ESDIS).
  • Optional layers (4 sources in the layer list: live, forecast, observed and context) print their provider credit on the map and here when switched on; forecasts are model output and derived indices are estimates.

Layers and dates

  • Night-time lights, daily: VIIRS Black Marble (VNP46A2), NASA LAADS DAAC · 12 Oct 2026
  • Population density, 2020: Population: CIESIN, Columbia University, Gridded Population of the World v4.11 (2018), NASA SEDAC, CC BY 4.0 · static
  • Flood water, 3-day composite: VIIRS Global Flood Product, NASA LANCE · 14 Oct 2026
  • Active fires and thermal anomalies, last day: VIIRS NOAA-20 375 m (FIRMS), NASA LANCE FIRMS · 13 Oct 2026
  • Land surface temperature, day, 8-day composite: VIIRS NOAA-20 Level 3, 8-day, NASA LANCE · 14 Sep 2026

03Build and read risk

Build a live risk picture, then read the exposure finance carries.

Coupled risk, applied response.

The sectors that carry exposure in coastal storm surge and how a loss in one passes to the others, across portfolios and public finances.

Choose a context

ACoupled risk across six sectors10 / 15 relations

Sectors · Coastal storm surgeStress

BApplied response across six pillars12 / 18 handoffs

Pillars · Coastal storm surgeKPI

In this contextDependence or handoff, heavier is strongerOutside this context

Context

Coastal storm surge

Mangroves and dunes absorb the surge; where they are gone, ports, substations and water intakes take it.

W · E · I · F · H · B

Risk

Sectors
5 of 6
Relations
10 of 15
Coupling
0.64 share of total

Hover a corner, a line or a row to trace it across both sides.

Route

Applied to coastal storm surge

L · F · U · S · R · A

Response

Pillars
5 of 6
Handoffs
12 of 18
Loops
8 closed

Expected value

What is at stake
$390Ba year at least, in infrastructure disruption costs to households and firms in low- and middle-income countriesWorld Bank, Lifelines, 2019
Return on resilience
4 : 1benefit to costWorld Bank, Lifelines, 2019
Avoided loss
$80Bflood losses avoided a yearGlobal Commission on Adaptation, Adapt Now, 2019

Hover a pillar, a line or a row to read how it is applied.

A: a teaching cascade (shock 0.6, gain 0.35, four rounds) over teaching values for a typical city-region, not measurements. B: illustrative applications and the KPI each pillar answers for; values are published benchmarks, cited, not forecasts. Open events: NASA EONET, live.

Build the hazard and exposure layer behind a portfolio.

Choose hazards, exposure layers and a geography, then build. Population and economic activity are weighed against live hazard data, cell by cell, ready to read against assets and instruments.

Sources: NASA GIBS, NASA EONET, USGS earthquakes, Open-Meteo (ECMWF, Copernicus GloFAS and CAMS), Natural Earth. Coupling weights are teaching values; scores are illustrative, not an assessment.

04Field explainer

Where exposure meets the coast, before and after a storm.

How financial stress could build along a coast where homes, businesses, insurers, lenders and public budgets carry the same hazard, on real geography with elevation: the US Gulf coast at baseline, under a hurricane with storm surge, and as the surge turns into repricing. Select a scenario. The levels are examples, not results.

Coastal exposure field · select a scenarioSources
Coastal exposure field, illustrative values on real geographyThe US Gulf coast and how financial stress could build across it under three scenarios: baseline exposure, a hurricane with storm surge, or surge followed by repricing of insurance, collateral and municipal credit. Real geography; illustrative levels, not results.
No signalLowElevatedHighSevere
Sea floorDelta and coast, 0 to 10 mPlain, 50 to 150 mUpland, 400 to 800 mRivers

FieldThe US Gulf coast under a surge or repricing scenario. Real geography. The levels are illustrative, not results.

Baseline exposure

Exposure before the storm.

Mortgages, insured property, municipal bonds, ports and energy assets sit on the same low coast. Each institution sees its own slice. The readiness dossier puts the whole exposure in one financial view.

Instruments
5
From a budget reserve to capital markets
Platforms
21
Sector platforms, each in its own field
05Readiness and research

Finance readiness, and research supervisors can challenge.

Five steps from evidence to an independent review.

Readiness means fitness for a stated next step, within a stated scope and evidence state. It is never approval, a rating or a promise of finance. Each step is designed to leave a record that a reviewing institution can examine.

The services behind each step, and what each never is, are described on Finance readiness.

  1. 01

    Evidence assembled

    Exposure, asset registers, loss history and scenarios, each carrying its evidence label: observed, published statistics, estimated, modelled or scenario.

  2. 02

    Scenarios compared

    Plausible shocks run against the exposure with stated assumptions, so a reader sees the range and not only a central case.

  3. 03

    Safeguards checked

    Environmental, social, legal, anti-corruption and data-rights questions identified before anyone relies on the work.

  4. 04

    Diligence questions registered

    What a competent institution would still need to know, written down openly rather than smoothed over.

  5. 05

    Release for independent review

    At the programme owner's written direction, the dossier is released to a competent party that the owner chooses. That party reviews it independently and decides under its own authority.

06Consortium, membership and routes in

An industry working on a problem no firm can solve alone.

Start with the question you need answered.

Each route has its own address. Country and consortium programme enquiries go to the Consortium Secretariat. The acknowledgement gives a reference and names the next step, and the first useful outcome is named before any work is agreed.

Banks, insurers and reinsurers

Shared systemic-risk and protection-gap research

Industry-wide exposure and protection-gap questions, worked on together and published where rights allow. No underwriting, lending or capital is promised. Write to the readiness team

Pensions and asset managers

Long-horizon resilience evidence

Research scopes, scenario evidence and the diligence needs that remain open, for each institution's own analysis. Participation is not investment advice. Write to the research team

Development finance institutions

Programme preparation

Evidence, safeguards and open diligence questions for a resilience programme, prepared for your own independent review. Write to the readiness team

Finance ministries and supervisors

Fiscal exposure and stress questions

Scenario evidence on contingent liabilities and financial transmission. No privileged access to any authority is offered or implied. Write to the Secretariat

Professionals

Working groups and learning

Bounded contributions to sector platforms and working groups, with review and recognition, once their terms are adopted. Register membership interest

Anyone

Corrections and concerns

Challenge a public statement without membership or payment. Competition-law and conduct concerns go to compliance. Request a correction

Open now: information and enquiries. An enquiry is acknowledged with a reference and the next step. Membership applications, contributions and readiness engagements open only when their team, terms and review capacity are in place. Routes by audience are listed on Contact.

As a business league, GRA exists to improve conditions across the financial services industry as a whole, not to serve any single firm's business. Membership is designed to bring institutions and professionals into that shared work.

  • Institutional members: banks, insurers, reinsurers, asset owners, managers and development lenders
  • Professionals: actuaries, risk managers, quantitative analysts, economists and engineers
  • Working groups and industry councils, once their terms are adopted, under competition-law safeguards
  • Professional learning in systemic risk and finance readiness

Membership confers no authority, appointment, endorsement, regulatory standing, data access or influence over findings. Pathways, safeguards and what is open today are set out on Membership.

07Shared fields

The same evidence, read for finance.

The Alliance's sector platforms share fields with GCRI's science and the Forum's governance. Trace a field across the three institutions, then follow it into the Standards a finance team maps to, the Academy's courses and the Reports that state their evidence class.

21 GRA platforms · 19 shared fields · 40 counterpart platformsSelect a field to trace it. Hover a platform to see its fields.
  1. A03Asset Management Nexus
  2. A-P04Climate and Nature Financial Risk
  3. A07Private Equity Nexus
  4. A01Insurance Nexus
  5. A08Institutional Funds Nexus
  6. A02Banking Nexus
  7. A-P01Financial Stability
  8. A05Capital Markets Nexus
  9. A-P10Private Credit
  10. A-P11Actuarial and Quantitative Risk
  11. A-P02Reinsurance and Catastrophe
  12. A04Fintech Nexus
  13. A09Financial Regulation Nexus
  14. A-P05Payments and Market Infrastructure
  15. A-P06Financial Cyber and Operational Resilience
  16. A-P08Financial Crime and Fraud Risk
  17. A10Sovereign Capital Nexus
  18. A-P07AI and Financial Model Risk
  19. A06Development Finance Nexus
  20. A-P03Disaster Risk Finance
  21. A-P09Public Finance and Sovereign Debt
  1. G-P06Trade and Strategic Resources
  2. G-P14Advanced Industry and Robotics
  3. G05Biodiversity Nexus
  4. G-P07Oceans and Coasts
  5. R-P01Climate and Nature Governance
  6. G04Health Nexus
  7. G-P13Biotechnology and Biosecurity
  8. R-P04Health and Biosecurity Governance
  9. G02Food Nexus
  10. G-P12Space and Earth Observation
  11. R06Diplomacy Nexus
  12. G07Nexus Campaigns
  13. G-P16Society and Human Development
  14. R-P05Information Integrity and Public Trust
  15. R04Foresight Nexus
  16. G01Water Nexus
  17. G03Energy Nexus
  18. G-P05Cities and Built Environment
  19. G-P01Systemic Risk Management
  20. G-P19Systems Science and Modelling
  21. G-P02Climate and Hazards
  22. G-P03Disaster Resilience and Recovery
  23. R02Innovation Nexus
  24. R03Policy Nexus
  25. R07Governance Nexus
  26. G-P04Critical Infrastructure
  27. G-P17Future of Work and Skills
  28. G-P18Digital Public Infrastructure
  29. G08Labs
  30. G09Foundry
  31. G-P09Cybersecurity and Digital Resilience
  32. G-P11Quantum Technologies
  33. R-P02Disaster and Crisis Governance
  34. R-P03AI and Digital Governance
  35. R05Capital Nexus
  36. G06Nexus Registry
  37. R01Research Nexus
  38. G-P15Economic Development
  39. G10Nexus Agency
  40. G-P08Artificial Intelligence and Autonomous Systems
Fig.Each line joins a platform to a field it works in: GRA's 21 platforms on the left, the fields in the middle, and the 28 at GCRI and 12 at GRF platforms that work in the same fields on the right. The count beside a field reads GRA platforms / counterparts. Source: the Consortium's platform registry (architecture V4).
The Global Risks Index

Every figure on this page is indexed: finance, fiscal, macro, The contiguous United States.

The Index is the Consortium's indexing system for risk data. Every indicator, hazard, series and country profile carries its Nexus Standards identifier, its source and its licence, so what this page shows can be traced, corrected and reused.

  1. 01 · Sources205 registered sourcesEvery value keeps its source and licence; withheld values are counted.Data and licences
  2. 02 · Nexus StandardsNIS-1 and NHS-1451 indicators, 905 hazards; every record carries a UNI.Nexus Standards
  3. 03 · The Index54 series, 195 country profilesComputed on the standards; no value is published until an edition is released.The Global Risks Index
  4. 04 · This pagethe Alliance homeMaps, figures and feeds read the Index in the context of finance, fiscal, macro and The contiguous United States.Public API
Sources205registered, each with its licence
Indicators451NIS-1, 106 composites, 20 domain indices
Hazards905NHS-1, crosswalked to UNDRR-ISC HIPs
Series54global, sector, strategic, technology, thematic
Country profiles195one site per country

Series in this context finance, fiscal, macro

  1. GLBGlobal SystemsThe state of interdependent global risk: the twenty domain indices aggregated to the world, the five core systems (water, energy, food, health, biodiversity) and their couplings, the global tail register and the gap…NXS-GRX-AR-000002Fiscal · Finance · Economy
  2. GSGlobal Finance and economyFiscal and public debt risk, financial stability, external dependence, inflation and growth at risk, and the macro-financial channels of physical and transition risk.NXS-GRX-AR-000063Fiscal · Finance · Economy
  3. SRFinancial contagion and systemic financeInterconnected exposures, sovereign–bank links, capital-flow reversals and contagion through financial networks.NXS-GRX-AR-000081Finance · Fiscal · Economy
  4. SRFiscal resilienceFiscal space, debt sustainability signals, contingent liabilities from disasters, and pre-arranged finance.NXS-GRX-AR-000078Fiscal · Macro · Finance

All 54 series · The 20 domain indices

Country profiles The contiguous United States

USAUnited States of Americaall country profiles

Every country profile carries the source and licence of each value. Correct a value or reply

Hazard domains NHS-1

Geodata and API open

Open layers on an equal-area hexagon grid, shown as densities per km² or as symbols: People · GHSL 2025People · WorldPop 2025Built-up areaPortsAirportsRoadsRailwaysRivers and lake centrelines

/api/v1/public/grix · https://nexustandards.com/uni/{uni}
Developers · Data · Made with Natural Earth, Public domain; GHSL and WorldPop, CC BY 4.0

Snapshot of the Index registries pinned 2026-10-23 · 22c6eed. Research and risk-analytics information: not a rating, an official classification, a warning, a benchmark or advice.

08Questions

Common questions about the Global Risks Alliance.

What does the Global Risks Alliance do?
GRA translates evidence about interconnected risk into the questions competent financial institutions ask: how a shock reaches credit, insurance, markets and public finance, where protection gaps lie, which scenarios matter and what remains unknown. It assembles that work into readiness dossiers for the independent review of competent institutions, which decide under their own authority.
Can GRA finance, insure or invest in a project?
No. GRA is not a fund, an investment adviser, a broker-dealer, an insurer, an insurance intermediary or a rating agency. It never lends, underwrites, rates, invests, approves or executes a transaction, and it does not promise that any financing or cover will follow from its work.
What is a readiness dossier, and what is it not?
A readiness dossier sets out the evidence, scenarios, safeguards and open diligence questions for a stated next step, each item with its evidence label and limits. It is not an approval, a rating, a certificate or an offer. The institution that receives it applies its own review.
Who can become a member of GRA?
GRA is a business league for the financial services industry. Its membership is designed for financial institutions and for professionals who work on financial risk. Membership applications open once their terms are adopted and published; until then, you can register interest at membership@globalriskalliance.com, and the acknowledgement gives a reference and names the next step.
How does GRA relate to GCRI and GRF?
The three are separate not-for-profit institutions that lead Nexus Consortiums together. GCRI supplies the risk science and evidence, through GCRI US in Washington, DC and GCRI Canada in Ontario. GRF leads leadership, dialogue and the annual Nexus Universe programme. GRA reads the evidence for finance, insurance and development readiness. Each keeps its own legal responsibilities.
How will GRA keep cooperation between competitors lawful?
GRA programmes are designed to bring competitors together only for precompetitive work on shared evidence and methods: never to discuss prices, premiums, fees, bids, customers, markets or collective commitments, and never to share a member's confidential information. These safeguards are set out in a written competition policy that counsel reviews before membership opens. Concerns go to compliance@globalriskalliance.com.
Contact

Bring the question your institution cannot answer alone.

Write to GRA, or to the Consortium Secretariat about a country or consortium programme. The acknowledgement gives a reference and names the next step. An enquiry does not create membership, an engagement or any commitment to finance.

Write to GRA Choose a contact route
Take part

Take part in the work.

Start from who you are. Answer an open call. Or form and lead a competence cell.

Route

National institutions

Ministries, statistics offices and agencies: a national desk and chapter, and a seat in the working groups. National chapters

Route

Sectors and professions

Operators, regulators, banks, insurers and professional bodies whose work touches systemic risk. Participate

Route

Learning

Courses, practice and certificates of completion. Free to study. Open learning

Route

Standards

Draft, review and adopt the methods and data standards with the working groups. Working groups

Route

Communities and research

Universities, civil society and individual experts: projects, data and review. Write to the team