Paul Denton (right), chief executive of Scottish Building Society, and Juston Butler of Ambiental By Kristy Dorsey The head of the world’s oldest building society has said he “takes comfort” from a new assessment of flooding and other climate change risks across its £400 million portfolio of mortgage loans throughout Scotland. Paul Denton said under Scottish Building Society’s new partnership with European climate change analysts Ambiental, the society looked at every property on its books to determine current and future risks over a 10 to 50-year timescale. Under various scenarios assuming different levels of carbon in the atmosphere, and the impact of that on climate, the mortgage lender now has a clearer understanding of the threat level to these properties.
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