Coventry Building Society is set to begin using Hometrack’s Climate Change Risk Analysis in its portfolio.

The risk insights, provided in partnership with Ambiental and Terrafirma, assess how risk is forecast to develop across the building society’s portfolio and will provide support on how to navigate impacts of climate change risk in future.

Hometrack is a data provider to the UK mortgage market. It provides information on the impacts of climate change on existing portfolio and new lending.

“Climate change regulation is evolving quickly and driving challenges for lenders in understanding the risk they have, new risk they may acquire and how the profile of those risks may develop over time,” says Hometrack commercial vice president, George Robbins.

Coventry joins a growing number of building society’s taking heed of climate risk in their lending practices.

In September Principality Building Society announced it had begun using Hometrack to manage climate change exposure in its mortgage portfolio. A month later, Virgin Money signed up. Yorkshire Building Society signed in August.