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Find out more Leeds Building Society enhance measurement of mortgage emissions
Overview: Leeds Building Society enhance measurement of mortgage emissions
How did our Meter Insights product help Leeds Building Society?
Leeds Building Society is the fifth largest building society in the UK, with assets of £31.6 billion. They provide residential mortgages through a network of approved mortgage brokers and directly to members. As a mutual organisation, they are owned by their members and act in their best interests over the long term.
The switch to Meter Insights data has not only improved data quality and reporting accuracy, but also enabled efficient, cost-effective, and GDPR compliant data access. This has provided greater confidence in their reporting and streamlined the production process.
Challenge overview
The UK’s housing stock is one of the oldest and least energy-efficient in Europe. In fact, nearly 90% of the total carbon footprint of financial institutions, such as banks and building societies, comes from the carbon emissions of the properties and projects they finance.
Sources:
BRE Group, The Housing Stock of The United Kingdom, Feb 2020
Challenges
- The UK’s housing stock is one of the oldest and least energy-efficient in Europe
- Reliance on outdated and inaccurate Energy Performance Certificates (EPCs) for calculating emissions
View Leeds Building Society Profile
Company Bio:
Leeds Building Society is a building society based in Leeds, England. It serves approximately 900,000 customers across the United Kingdom, who together hold £9.9 billion in savings balances and is the fifth largest building society in the UK. It has 51 branches across the UK.
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|---|---|
| Established: | 1875 |
| Number of customers: | 900,000+ |
| Number of employees: | 1,500+ |
The switch to Experian’s Meter Insights data has significantly improved our data quality and reporting accuracy, enabling us to confidently achieve a 36% reduction in attributed emissions for residential mortgages.
Solution overview
Leeds Building Society implemented Experian’s Meter Insights product, which provides aggregated and anonymised property-level energy metered data and up-to-date emission factors.
The switch to Meter Insights data has not only improved data quality and reporting accuracy but also enabled efficient, cost-effective, and GDPRcompliant data access. This has provided greater confidence in their reporting and streamlined the production process.
Leeds Building Society looks forward to continuing their partnership with Experian to explore further refinements to the Meter Insights product and other innovative use cases for climate risk data and analysis.
We offer a robust solution, aligned with the Partnership for Carbon Accounting Financials methodology, addressing several limitations of existing approaches for calculating building emissions.
Learn more about how Meter Insights could help your business
Results
- Reduced attributed emissions for residential mortgages by approximately 36% between 2023 and 2024
- Improved the accuracy of emissions reporting
- Rebaselined and increased their existing emissions target to reflect the change
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