The Bank will use Ambiental's data to understand its mortgage portfolio's current and future potential climate risk impact.
Lloyds Banking Group (LBG) is the largest UK retail and commercial financial services provider with around 26 million customers.
To understand the UK's exposure to flood, subsidence and coastal erosion risks, Lloyds Banking Group partnered with Rightmove and Ambiental. The exercise considered approximately two million mortgaged properties modelled for physical risks as part of the assessment.
A broader initial exercise identified that flood risk was an essential driver of physical risks. Hence, a specific follow–up analysis of flood risk was undertaken to provide a more detailed perspective of the portfolio's resilience to that peril. The research involved an individual property-level flood risk analysis using the latest advanced hydrological modelling techniques to understand the possible level of change under future climate scenarios out to 2100.
For more information on Ambiental's climate data, please get in touch with Rob Carling, e-mail email@example.com
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