UK Asset Resolution (UKAR) commissioned Acclaro Advisory to assess the risk of climate change on the business to ensure it meets its statutory risk reporting requirements via its enterprise risk management process. By identifying the main climate risks affecting its mortgage portfolio and understanding how they might impact the business, UKAR is able to manage the risk and identify opportunities to be resilient to the effects of climate change.
Acclaro delivered three workshops and conducted in-depth research and analysis to identify UKAR’s most material physical and transitional risks through scenario analysis. As a result, UKAR was able to embed climate risk into its enterprise risk framework and integrate climate risk into its reporting, in line with the related Streamlined Energy and Carbon Reporting (SECR) statement within its Annual Report.
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