Yorkshire Building Society has signed up to a new climate change risk analysis product with Hometrack, to assess the Society’s mortgage portfolio.

Hometrack are the leading provider of insight and intelligence to the UK mortgage market.

Building on their existing relationship, Hometrack’s climate change risk analysis 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.

Hometrack’s climate change risk analysis product is powered by expertise from Ambiental, the market leading provider of flood data and analytics, and from Terrafirma, a leading firm of geologists, soil scientists and engineers who are reshaping the future of ground risk modelling.

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.

All information correct at time of publication.