Leeds Building Society Enhances Emissions Reporting with Experian Partnership to Support Net Zero Goals

Leeds Building Society Enhances Emissions Reporting with Experian Partnership to Support Net Zero Goals

(IN BRIEF) Leeds Building Society has partnered with Experian to improve the accuracy of its financed emissions reporting for residential lending, aligning with the UK Government’s Net Zero goals. By replacing estimated EPC data, which overestimated emissions by over 36%, with Experian’s precise property-level energy data, the building society has enhanced its climate data accuracy. This partnership helps Leeds Building Society better track emissions, ensure compliance with upcoming reporting regulations, and align with the Paris Agreement’s goals. The use of Experian’s Meter Insights also enables accurate Scope 3 emissions reporting for both residential and commercial properties.

(PRESS RELEASE) LONDON, 1-May-2025 — /EuropaWire/ — Leeds Building Society has significantly improved the accuracy of its reported financed emissions within its residential lending portfolio through a new collaboration with Experian. This partnership enhances the building society’s alignment with the transition to a low-carbon economy, supporting the UK Government’s Net Zero target. UK lenders are required to report Scope 3 emissions, which can make up 80% to 95% of their total carbon footprint. Accurate reporting of these emissions allows lenders to identify climate risks within their portfolios and invest in low-carbon projects, but this has been challenging due to the lack of reliable data.

Previously, Leeds Building Society relied on estimated Energy Performance Certificate (EPC) data to assess residential mortgage emissions. However, this approach was found to overestimate emissions by more than 36%. With the new partnership, Leeds Building Society is now utilizing Experian’s data to access aggregated and anonymized property-level energy data and emission factors, significantly improving the accuracy of its emissions reporting.

Graeme McRitchie, Head of Prudential and Enterprise Risk at Leeds Building Society, highlighted that the accuracy of their climate data is essential to their climate transition plan, ensuring the society’s reduction targets are informed by precise information. Scott Harrison, Director of Market Engagement at Experian UK&I, emphasized that accurate, granular data is crucial for businesses to meet their climate goals and comply with mandatory emissions reporting regulations.

Experian’s Meter Insights, which analyzes actual energy consumption data from meter readings, enables more precise reporting of Scope 3 emissions for both residential and commercial properties. Leeds Building Society has already updated its emissions targets in line with the Science-based Targets initiative (SBTi), ensuring future reduction goals align with the Paris Agreement.

Notes

Experian analyses primary energy data from meter readings to report actual energy consumption and associated carbon dioxide emissions for financed buildings and tenant businesses in the UK. It provides businesses with precise, accurate data on scope 1 and 2 emissions, energy consumption data, and total financed emissions for residential and commercial properties, enabling accurate scope 3 emissions reporting.

To find out more visit: Meter Insights | Experian Business

*The Department for Energy Security and Net Zero, Scope 3 Emissions in the UK Reporting Landscape, October 2023

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Media Contact:

Robert Goodman
PR Manager, Corporate & Business, UK&I, Experian
Tel: +44 7989 398 498
Email: Robert.Goodman@Experian.com

SOURCE: Experian