Yorkshire Building Society, the UK’s third-largest building society is undertaking climate change risk analysis with Hometrack, to assess the Society's mortgage portfolio.
Hometrack’s climate change risk analysis product is powered by expertise from Ambiental as leading providers of flood data and analytics in the market, and from Terrafirma, a firm of geologists, soil scientists and engineers who are reshaping the future of ground risk modelling. Rob Carling, Channel Sales Manager at Ambiental commented: “We are proud to be part of the Hometrack partnership. Through utilising our advanced, predictive flood risk analytics Yorkshire Building Society and other lenders are able to mitigate the impact of climate change on their portfolios and operations."
Hometrack is the leading provider of insight and intelligence to the UK mortgage market. Building on its existing relationship, Hometrack’s climate change risk product will afford Yorkshire Building Society an increased understanding of the impact of climate change on its mortgage portfolio over time, ultimately helping the Society to gain greater control over managing climate change risk.
Rob Purdy, Director of Balance Sheet Management at Yorkshire Building Society, said:
“We are really pleased to have built on our existing relationship with Hometrack and to be able to announce this new partnership with them to receive in depth and evolving analysis of the risks that climate change will pose to Yorkshire Building Society. Their expertise and support will help us prepare for future risks and mitigate current ones as well.”
Commenting on the partnership, George Robbins, VP Commercial at Hometrack, said: "Climate change risk is one of the most pressing issues for the mortgage industry today, but Yorkshire Building Society has recognised early on the urgent need for visibility and control. An unprecedented challenge for the industry, we are poised to support the Society as they navigate an ever-changing regulatory landscape. We relish the opportunity to build on our existing relationship and to deliver streamlined, in depth analyses, powered by profound intelligence from Ambiental and Terrafirma, that unlocks the next generation of climate change risk management for the industry."
Discover what Ambiental’s risk database of all UK properties is revealing about the current and future risk to properties built since 2009
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