"Understanding the impacts of climate change is vital to protect housing market” - Renowned mortgage expert joins Climate X

Climate X has created a digital “twin” of the Earth, Spectra, which projects how extreme weather events fueled by the changing climate - including heatwaves, wildfires, flooding and landslides - can impact properties, infrastructure or assets under different emissions scenarios. Spectra also compliments its hazard data with energy efficiency ratings for the UK and the whole of Europe. This helps mortgage lenders and real estate firms meet regulatory requirements, prepare for such events, pivot their long-term business strategy, and quantify transition risks and retrofit costs.

Jackie first witnessed the impact of extreme weather over 20 years ago while working with the Association of British Insurers during the floods of 2000-01. The flood had a devastating impact on insurers and homeowners, with over 10,000 properties damaged at an estimated cost of £1bn. This, and more recent flood events, have highlighted the need for quality data to understand how and where properties need protection from future events and to ensure properties remain mortgageable and insurable for the long term.

On joining Climate X, Jackie Bennett OBE said: “Climate X has built a remarkable technology that holds immense potential for the mortgage and housing industries.

“Foreseeable harm from climate change will have a fundamental impact on mortgages and housing over the coming years - and robust climate risk data and modelling will become vital to these industries’ resilience.

“I haven’t seen another organisation that commands the breadth and depth of climate risk insights as Climate X. I’m thrilled to be supporting the business in its journey.”

Jackie has a portfolio of board and advisory positions. She was awarded an OBE for her contribution to the financial services industry during the global financial crisis in the late 2000s, working with the government to help keep people in their homes.

CEO and co-founder at Climate X, Lukky Ahmed, said: “The impacts of climate change across the world are now impossible to ignore - and the risks to global real estate and infrastructure will continue to increase exponentially.

“Jackie is an impressive leader with an extensive background in the UK’s mortgage and housing market. Her expertise will be invaluable as we scale our product for the real estate sector, helping lenders and property owners to forecast climate risk and protect their assets.

“I’m thrilled to welcome her to the business as we continue our rapid growth.”

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Climate X is the world’s only fully integrated climate risk platform, helping financial institutions to price, manage and build resilience to climate change impacts on the built environment. They provide climate financial risk data to global banks and asset managers, defending global economic stability against the impacts of climate change.

Climate X is redefining resilience against climate change. Their innovative solutions have transformed the approach of businesses towards climate challenges, enabling them to build and retrofit structures for a sustainable future.

By translating carbon emissions pathways into financial impacts, they help drive a significant shift in the financial sector. Banks and asset managers are now using their insights to drive positive societal change, transforming investment strategies, risk assessments, and preparation for the financial effects of extreme weather.

They are reinforced by notable figures such as David Carlin, Robert Wigley, and Jackie Bennet OBE who serve as advisors and are supported by CommerzVentures, Pale Blue Dot and Bluewire Capital as some of its investors. Climate X has received numerous awards, including FinTech Germany, Chartis’ Rising Star, and Deloitte’s Fast 50.