It commissions an aerial survey to determine flooding impact on properties
Offshore bank Skipton International has partnered with Ambiental Risk Analytics, a specialist in environmental hazard intelligence, to support its work on climate change.
The bank commissioned a unique aerial survey for the Channel Islands this summer to create a model to show the impact of flooding for each property because of climate change. Ambiental’s climate flood data, along with subsidence and coastal erosion data, will be supplied to Skipton to ensure it meets future regulatory compliance requirements.
Skipton said the specially commissioned aerial survey from Bluesky International, using light detection and ranging (LiDAR) technology, is the most up-to-date and in-depth report for the islands in many years. LiDAR is a light technology used to create high-resolution models of ground elevation with a vertical accuracy of 10 centimetres.
According to Skipton, this forms part of its future risk assessment when lending monies within the Channel Islands.
“We’ve made big strides over the last few years in our sustainability and ESG activities, particularly in how we prepare for and respond to climate change,” Simon White, credit risk manager at Skipton International, said. “We were the first Channel Island business to sign up to the United Nations Environmental Programme Finance Initiative, so investing in this climate change data was a natural progression.
“This in-depth analysis of our mortgage portfolio is invaluable to help understand and manage the physical and transitional risks it presents to Channel Island properties. We are aware that this data will be beneficial to many other Channel Island businesses and will be pleased to share with them if they wish to contact us.”
Read more: Buyers must be informed of climate change risks on property – expert.
Rob Carling, channel sales manager at Ambiental, said they were delighted to work with Skipton to develop the climate flood models for the Channel Islands.
“Like other parts of the UK, the islands will be impacted by climate change, and a recent report from the Jersey Government states that 400 homes and businesses at risk of a major flooding incident,” he added. “This is forecast to rise to 3,000 properties in the future unless something is done.”
