Building on an existing relationship, Coventry Building Society has expanded its agreement with Hometrack to include climate change risk analysis, provided in partnership with Ambiental and Terrafirma.
As well as assessing the risk of climate change in the near term, Hometrack’s risk insights will assess how risk is forecast to develop across Coventry Building Society’s portfolio over time.
Neil Wilson, head of retail credit risk at Coventry Building Society, said: “Coventry Building Society has an ambitious agenda to contribute to a cleaner and more carbon neutral world.
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“We’re taking lots of steps to increase the support we provide for borrowers to understand the environmental impact of their property.
“This partnership with Hometrack will enable us to better understand the potential climate risks that we and our members may face.”
George Robbins, VP of commercial at Hometrack, added: “Climate change regulation is evolving quickly and driving challenges for lenders in understanding the risk they have, new risk they may acquire and how the profile of those risks may develop over time.
“Coventry Building Society is committed to understanding and managing its commitments to responsible lending throughout the cycle and we welcome the opportunity for our data, analysis and solutions to be part of this key journey.”