Barclays adds Groundsure climate data to environmental screening

Barclays has expanded its partnership with Groundsure to start screening business transactions in the UK for environmental and climate change risks.

Groundsure has worked with Barclays since 2006 to provide the bank with a flood and contaminated land loan guarantee opinion.

The new agreement will introduce Siteguard’s new Climate Report, which includes a four-tier risk assessment summary with opinions on environmental liability, loan guarantee risks and potential impacts on property value.

It also provides an assessment of the current physical climate risk related to flooding and projected in the medium term.

Groundsure Chief Executive Dan Montagnani said: “We are extending our already long and trusted relationship with Barclays to help them manage their current and future exposure to environmental risks, particularly in the context of more stringent environmental requirements. compliance and due diligence.

Ania Musial, Vice President of Environmental and Climate Risk at Barclays Group, adds: “Our long and successful relationship with Groundsure has ensured that many thousands of transactions have been effectively screened through their analytics and data intelligence. Now we can take a longer-term view to consider the potential impact the climate will play on these lending decisions with greater confidence.

Earlier this month, Groundsure has also teamed up with Santander to help assess climate risk in its commercial lending.

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