Barclays has announced it is to start screening transactions for climate change risks.
The bank has expanded its agreement with environmental analytics firm, Groundsure, to screen commercial transactions in the UK for climate change and environmental risks.
Groundsure has been working with Barclays since 2006 to provide the bank with a “definitive opinion” on lending security in relation to flooding and contaminated land.
The firm’s new, extended agreement will see the introduction of the new Siteguard Climate report, which includes a four-tier risk assessment summary with insight on environmental liability, loan security risks and potential property value impacts. It also provides an assessment on the current physical climate risk from flooding as well as projections over the medium-term.
“Ensuring we can walk into high value commercial lending with eyes fully open about legacy environment and forward physical climate risks is a vital part of our governance and credit risk approach,” said VP environment and climate risk at Barclays, Ania Musial.
“Our long and successful relationship with Groundsure has ensured that many thousands of transactions have been effectively screened with their analytics and data intelligence. Now, we can take a longer view ahead to account for the potential impact that the climate will play on these lending decisions with greater confidence.”
Groundsure CEO, Dan Montagnani, added: “We are extending our already long and trusted relationship with Barclays to help them manage their current and forward exposure to environmental risks – especially in the context of greater compliance and due diligence requirements.
“Forward-thinking major banks are looking at how they are going to respond to the Bank of England expectations on embedding approaches to climate related financial risk. We will be helping Barclays meet their compliance obligations – for both environmental and broader climate impacts – ensuring they are well-positioned to manage this, at scale, for their commercial portfolio.”
Latest News
-
House price growth slows to 3% – ONS
-
Inflation remains unchanged at 3.8% in September
-
£8.8bn worth of BTL loans advanced in Q2
-
Quilter reports third successive quarter of £2bn+ inflows
-
IHT receipts total £4.39bn in six months to September
-
Younger advisers more likely to work with new clients, study finds
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories