By Legal Futures Associate Landmark Information Group [1]
As climate change continues to reshape our environment, the property market cannot afford to overlook its long-term impact. For conveyancers and solicitors, the duty to provide advice on environmental risks has been well documented and is more crucial than ever. Landmark’s latest enhancements make this easier by including a Climate Change module as standard in both EnviroSearch Residential and RiskView Residential. This powerful enhancement ensures that your environmental due diligence extends beyond today’s concerns and considers future risks for your clients.
Why choose Landmark’s Climate Change Report?
As leaders in legal products and environmental data for the UK property market, Landmark has a long-standing reputation for supporting best practice due diligence. Our innovative products enable thousands of successful transactions every day, and now, with the inclusion of climate change assessments, our reports are even more valuable.
Climate change is no longer a distant concern—it’s an issue that affects every industry and every part of our lives. Here are some key statistics to highlight the importance of measuring and addressing these risks during property transactions:
- Flooding: Currently, 5.4 million properties in the UK are at risk of flooding. By 2050, the number of people significantly at risk is projected to increase by 61%.
- Subsidence: By 2030, the British Geological Survey (BGS) expects climate change-related subsidence to affect more than 3% of properties, rising to over 10% by 2070.
- Heat Stress: According to the Met Office, summer temperatures could be 1–6°C warmer and 60% drier by 2070, with an increased likelihood of heatwaves.
These statistics demonstrate why it’s critical to include climate change risk assessments as part of your due diligence process. Understanding how these risks may evolve will help your clients make more informed decisions about their property investments.
Key features and benefits of Landmark’s Climate Change Report
Landmark’s Climate Change module offers comprehensive analysis of both physical and transitional risks. Here’s how it benefits you and your clients:
- Physical Risks: The report assesses four key areas where climate change could impact a property: flood risk, subsidence, heat stress, and coastal erosion. This enables you to advise your clients on the potential need for adaptations to manage future risks.
- Transition Risk: The report includes key Energy Performance Certificate information, which is crucial for understanding how energy efficiency requirements may evolve over time. Transition risks, such as energy efficiency upgrades, are increasingly relevant as properties must meet stricter environmental standards. Landmark’s report provides information on the current EPC and outlines future requirements, including potential costs.
- Report on Title Summary Page: Climate change is a complex area, and Landmark’s summary page simplifies the process. It presents a clear and concise overview of climate-related risks, making it easier for you to relay recommendations to your clients.
- Expert queries and support: The complexity of climate change can lead to questions from both solicitors and their clients. Landmark ensures that your queries are answered accurately and promptly by industry professionals, in partnership with specialist academics.
- Visual mapping and graphics: Landmark’s report includes mapping and graphics for flood risk, ground stability, and heat stress. These visual elements help to enhance the understanding of potential risks, providing clarity for you and your clients.
- Authoritative data source: The data baseline for Landmark’s climate change assessments is derived from UKCP18, the most authoritative climate projection data available for the UK, developed by the Met Office. This ensures that your reports are based on the most trustworthy and up-to-date information.
- Polygon search functionality: For finer granularity and precision in reporting, Landmark’s Climate Change module includes a polygon search functionality. This allows you to deliver highly detailed and accurate assessments for specific areas of concern.
- Short, Medium, and Long-Term risk analysis: Landmark’s Climate Change module presents physical and transitional risks over the short, medium, and long term. This ensures that you and your clients have a clear understanding of the evolving risk landscape and can make well-informed decisions. The intuitive format of the report offers appropriate explanations with practical advice and recommendations, so you’re not just presented with data, but actionable insights.
Why it matters for conveyancers and solicitors
With climate change becoming an increasingly significant factor in the property market, conveyancers and solicitors must consider not only current risks but also those that could emerge in the future. Landmark’s Climate Change module offers the foresight needed to provide comprehensive advice to your clients, ensuring their investments are protected against the uncertainties of a changing climate.
The inclusion of this module in EnviroSearch Residential and RiskView Residential reports as standard means that climate change risk assessments are now a seamless part of your due diligence process. With Landmark’s support, you can help your clients navigate the complexities of climate change, ensuring they are fully informed and prepared for the future.
Find out more about our Residential Climate Change report here. [2]