Finextra, a leading provider of information on Environmental, Social, and Governance (ESG) data, Impact Investing, and Sustainable Finance initiatives, is playing a pivotal role in supporting businesses such as Atom Bank in their sustainability efforts. Atom Bank, in its ambitious move towards becoming a carbon-positive bank by 2035, has formed a strategic partnership with Kamma to assess the climate risks associated with its mortgage portfolio.
The partnership marks a significant step in Atom Bank’s broader commitment to becoming more sustainable and environmentally-friendly. By utilizing Kamma’s technology, Atom Bank plans to get a detailed view of the climate profile of UK property using modeling, address matching, and analytics. This technology will assist the bank in measuring emissions, understand risk, and provide insights to customers on how to reduce their bills and increase their property value.
To achieve its sustainability goals, Atom Bank is not only reviewing its mortgage portfolio but also developing new products to benchmark and reduce emissions. The data-driven insights provided by Kamma’s technology will assess the emissions of each property in their portfolio. This information will be a crucial tool for Atom Bank, enabling it to offer advice on how to reduce carbon footprints.
Moreover, the data provided by Kamma will be integrated into Atom Bank’s existing risk management systems. This integration will facilitate continuous monitoring and assessment of climate-related risks, fortifying Atom Bank’s commitment to its sustainability objectives.
Atom Bank’s partnership with Kamma exemplifies the role that technology and data can play in driving sustainable finance initiatives. As Atom Bank continues to strive towards becoming a carbon-positive bank, such strategic partnerships and the use of innovative technology will be instrumental in shaping its journey towards sustainability.