Financial sector regulations and risk addressed in high-tech solution
Ambiental’s Climate Suite provides a transparent data-driven view of properties and assets at risk from climate-related weather events
New legislation effective from April 2022 in the United Kingdom, and set to be introduced in Europe over the next two years, requires large companies and financial institutions to report on climate-related risks and opportunities. Banks and building societies are complying with regulatory expectations by taking steps to ensure they can provide sustainable lending in the face of a changing climate. To do so, they need to have a clear understanding of risks facing their asset portfolios.
This information is now available through a solution provided by a company of Royal HaskoningDHV, Ambiental. Ambiental’s Climate Suite provides a transparent, data-driven view of properties and assets at risk from climate-related weather events - now and in the future. It enables future risks to be quantified for any given year or across any required timeframe, so assessments can be based on the exact duration of an investment, mortgage, or insurance policy.
It results in safer, more sustainable investments and simplified compliance with the new mandatory financial reporting regulations. For example, the oldest building society in the world - the Scottish Building Society - has assessed the current level of risk to more than £ 400 million (€480m) in mortgage investments using Ambiental’s flood risk insights.