Santander

Santander selects Groundsure for environmental and climate due diligence

Environmental analytics business Groundsure is to screen Santander’s commercial transactions for legacy and ongoing environmental and climate change risks.

In conjunction with Santander, Groundsure has designed a new report that includes a four-tier risk assessment summary with explicit opinions on environmental liability, loan security risks and potential property value impacts.

Groundsure says the report, Siteguard Climate, is the first to provide major banks with an assessment on the physical climate risk from flooding today and “in the medium term”.

Santander is the third of the top five commercial lenders in the UK to work with Groundsure – which also works with Barclays and the Natwest/RBS Group.

Dan Montagnani, CEO of Groundsure said:

“[The new report will help banks] to manage their current and forward exposure to environmental risks, especially in the context of greater compliance and due diligence requirements.

With the Bank of England having set out its expectations on banks embedding their approaches to climate related financial risk, we are helping Santander to meet their compliance obligations and to ensure they are well positioned to manage this at scale for their commercial portfolio.”

This article was submitted to be published by Groundsure as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

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