# Climate Finance Bench

arXiv: https://arxiv.org/abs/2505.22752 · HTML: https://mlsanity.com/paper/2505.22752/

## Key facts

- No citing papers in the map yet (data through 14 Oct 2026).
- Builds on 29 of its 42 references that are in the map.
- First posted on arXiv 28 May 2025.

## Builds on (most cited first, 29 of 29)

- [Language Models are Few-Shot Learners](https://mlsanity.com/paper/2005.14165/) (2020)
- [GPT-4 Technical Report](https://mlsanity.com/paper/2303.08774/) (2023)
- [Retrieval-Augmented Generation for Knowledge-Intensive NLP Tasks](https://mlsanity.com/paper/2005.11401/) (2020)
- [ReAct: Synergizing Reasoning and Acting in Language Models](https://mlsanity.com/paper/2210.03629/) (2022)
- [Toolformer: Language Models Can Teach Themselves to Use Tools](https://mlsanity.com/paper/2302.04761/) (2023)
- [Retrieval-Augmented Generation for Large Language Models: A Survey](https://mlsanity.com/paper/2312.10997/) (2023)
- [Survey of Hallucination in Natural Language Generation](https://mlsanity.com/paper/2202.03629/) (2022)
- [From Local to Global: A Graph RAG Approach to Query-Focused Summarization](https://mlsanity.com/paper/2404.16130/) (2024)
- [BEIR: A Heterogenous Benchmark for Zero-shot Evaluation of Information Retrieval Models](https://mlsanity.com/paper/2104.08663/) (2021)
- [Leveraging Passage Retrieval with Generative Models for Open Domain Question Answering](https://mlsanity.com/paper/2007.01282/) (2020)
- [Atlas: Few-shot Learning with Retrieval Augmented Language Models](https://mlsanity.com/paper/2208.03299/) (2022)
- [BloombergGPT: A Large Language Model for Finance](https://mlsanity.com/paper/2303.17564/) (2023)
- [Green AI](https://mlsanity.com/paper/1907.10597/) (2019)
- [KILT: a Benchmark for Knowledge Intensive Language Tasks](https://mlsanity.com/paper/2009.02252/) (2020)
- [Carbon Emissions and Large Neural Network Training](https://mlsanity.com/paper/2104.10350/) (2021)
- [FinQA: A Dataset of Numerical Reasoning over Financial Data](https://mlsanity.com/paper/2109.00122/) (2021)
- [Augmented Language Models: a Survey](https://mlsanity.com/paper/2302.07842/) (2023)
- [Graph Retrieval-Augmented Generation: A Survey](https://mlsanity.com/paper/2408.08921/) (2024)
- [FinanceBench: A New Benchmark for Financial Question Answering](https://mlsanity.com/paper/2311.11944/) (2023)
- [FinGPT: Open-Source Financial Large Language Models](https://mlsanity.com/paper/2306.06031/) (2023)
- [CLIMATE-FEVER: A Dataset for Verification of Real-World Climate Claims](https://mlsanity.com/paper/2012.00614/) (2020)
- [ConvFinQA: Exploring the Chain of Numerical Reasoning in Conversational Finance Question Answering](https://mlsanity.com/paper/2210.03849/) (2022)
- [Language Model Cascades: Token-level uncertainty and beyond](https://mlsanity.com/paper/2404.10136/) (2024)
- [Task-aware Retrieval with Instructions](https://mlsanity.com/paper/2211.09260/) (2022)
- [Searching for Best Practices in Retrieval-Augmented Generation](https://mlsanity.com/paper/2407.01219/) (2024)
- [Characterizing LLM Inference Energy-Performance Tradeoffs across Workloads and GPU Scaling](https://mlsanity.com/paper/2501.08219/) (2025)
- [ClimRetrieve: A Benchmarking Dataset for Information Retrieval from Corporate Climate Disclosures](https://mlsanity.com/paper/2406.09818/) (2024)
- [Golden Touchstone: A Comprehensive Bilingual Benchmark for Evaluating Financial Large Language Models](https://mlsanity.com/paper/2411.06272/) (2024)
- [Typed-RAG: Type-Aware Decomposition of Non-Factoid Questions for Retrieval-Augmented Generation](https://mlsanity.com/paper/2503.15879/) (2025)

## Abstract (arXiv)

Climate Finance Bench introduces an open benchmark that targets question-answering over corporate climate disclosures using Large Language Models. We curate 33 recent sustainability reports in English drawn from companies across all 11 GICS sectors and annotate 330 expert-validated question-answer pairs that span pure extraction, numerical reasoning, and logical reasoning. Building on this dataset, we propose a comparison of RAG (retrieval-augmented generation) approaches. We show that the retriever's ability to locate passages that actually contain the answer is the chief performance bottleneck. We further argue for transparent carbon reporting in AI-for-climate applications, highlighting advantages of techniques such as Weight Quantization.