What does it mean to say climate models are “validated”?

Become a paying subscriber of Unpacking Climate Risk to read in full👇

I’ve been increasingly getting ads for a well-known financial services company spruiking their climate analytics, data, and models.  Full disclosure:  I used to work for the company in question and I remain an investor.  I won’t name them: they own arguably the best financial database on the planet and their modelers are second-to-none.

Obviously I get bombarded because I’m a climate nerd who consumes regulator missives and scientific reports by the truckload.  I’ve heard that other people get ads for normal things like horse-worming treatments and online poker.  Perhaps this is just a myth?

Anyway, the ads stress that the company’s climate models are “validated”.  As a modeling veteran and pedant, I admit I get hung up on that word.  They’re not saying that the models are accurate, informative, or predictive.  They are even using the past participle form – validated – rather than just saying the models are “sound”.

So, what does “validated” mean here, and why am I confused?