About the public dataset
The aim of the UK National Physical Climate Risk Report for Mortgage Lenders report was to provide quantified insights into the scale, severity and concentration of current and future extreme weather and climate change risk to the UK’s national property address base.
The analysis suggested that climate exacerbated extreme weather risks could elevate insurance costs to unaffordable levels for many properties, leading to an increasing risk of financial distress and mortgage default. In some cases there are likely to be reductions in property value raising the spectre of negative equity.
“Many large banks now have the capability to identify and therefore avoid addresses where extreme weather and worsening insurance costs could give rise to default risk. Without access to the same information, small and medium size lenders are potentially at risk of absorbing these assets, thus skewing the proportion of high risk addresses in their portfolio,” explained XDI CEO Rohan Hamden.
This information has been used by governments, regulators, and financial institutions working with commercial and residential assets. It has created the opportunity for all lenders, large and small, to have the information they need to avoid financial instability due to climate impacts.
Read the report.
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Delivered how you need it
By physical climate risk specialists
Civil society: A voice for homeowners
Public data release - exposing risk in the UK property market
Public data release: supply chain and sub sovereign risk
Our vision is not just to identify physical climate risks, but to mitigate them.
XDI can help you develop business plans for adaptation, helping you move from risk to resilience.
Talk to us today to find out more.