Leeds Building Society has dramatically improved the accuracy of its reported financed emissions within its residential lending portfolio thanks to a new partnership with Experian UK&I. By reporting Scope 3 emissions, lenders can identify potential climate risks in their portfolios and also uncover opportunities for investing in low-carbon projects. However, a major challenge is access to accurate, robust and up-to-date data to gain a clear picture of their financed emissions. By deploying Experian datasets, the building society has been able to access aggregated and anonymised property level energy data and emission factors for properties in its portfolio. This has removed its reliance on estimated EPC data which was found to have overestimated its residential mortgage emissions by more than a third (36%). Graeme McRitchie, Head of Prudential and Enterprise Risk, Leeds Building Society, said: “Improvements in the accuracy of our climate data is key to underpinning our climate transition plan to ensure we are accurately reporting and informing our reduction plans. “We are delighted with the impact Experian’s Meter Insights has already had on our reporting, and shows how accurate data can have a real, tangible impact on businesses.” Scott Harrison, Director of Market Engagement, Business Information, Experian UK&I, said: “Rich granular data is fundamental for any business wanting to achieve its goals. “Experian’s first-in-class data expertise means we can support pioneers such as Leeds Building Society, helping them move away from estimated to far more accurate, precise financed emissions data." To find out more visit: https://lnkd.in/ekbtiea4 #Sustainability #ESG
