FinTech: Atom Bank And Kamma To Partner For Greening UK Mortgage Assets
Atom Bank has pledged to become a carbon-positive bank by 2035.
Atom Bank and Kamma have formed a significant partnership aimed at addressing the pressing concerns of climate change. This collaboration brings together Atom Bank’s cutting-edge banking technology with Kamma’s climate tech expertise, creating a comprehensive approach to understanding and mitigating climate risks associated with Atom Bank’s mortgage portfolio.
Kamma will provide Atom Bank with access to its comprehensive climate suite, enabling a thorough assessment of both the physical and transition risks linked to the bank’s mortgage book. Additionally, Kamma will offer analytical insights into Atom’s financed emissions, enhance PCAF scoring, and evaluate climate credentials for asset pools earmarked for securitization. (IFA Magazine)
In light of escalating climate-related disasters worldwide, stakeholders such as customers, investors, and regulators are increasingly demanding that banks take responsibility for the environmental impact of their lending activities. Atom Bank is responding to this call by committing to becoming a carbon-positive bank by 2035. Its digital, cloud-native business model is inherently eco-friendly, and it has adopted practices that further reduce emissions.
The partnership’s first phase will involve a comprehensive review of Atom Bank’s mortgage portfolio, supported by Kamma’s expertise. In the second phase, the two parties will develop innovative products and customer experiences that align with their climate-positive strategy.
Kamma’s unique capabilities in assessing the climate profile of UK properties will play a pivotal role in guiding Atom Bank towards its carbon-positive goals. By leveraging advanced analytics and data integration, Kamma offers a clear path for the UK property sector to achieve Net Zero emissions.
Related Story: Global X Launches Green Building ETF
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