Santander uses Groundsure for climate risk reporting

Santander has partnered with Groundsure to help assess climate risk in its commercial loans.

The bank has worked with Groundsure to create a new report called Siteguard Climate, which details a four-tier risk assessment summary covering environmental liability, loan guarantee risks and the potential impact on property values ​​than those these may have on each site that the Santander Assessment Network is concerned with.

In addition, each report includes recommendations for each project.

Groundsure says this is the first report that covers flood risk today and in the medium term.

In the past, the risk rating firm has worked with the commercial lending arms of Barclays and the Natwest/RBS Group.

Groundsure Managing Director Dan Montagnani said, “Siteguard Climate is an attractive proposition for banks to manage their current and future exposure to environmental risks, particularly in the context of increased compliance and due diligence requirements.

“With the Bank of England having set out its expectations for banks integrating their approaches to climate-related financial risk, we are helping Santander meet its compliance obligations and ensure it is well positioned to manage this at large. scale for its business portfolio.”

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