Morningstar's Sustainalytics Acquires Property-Level Climate Risk Data Provider Aquantix
ESG ratings, data, and research provider Morningstar Sustainalytics announced today the acquisition of Montreal-based property-level climate risk data provider Aquantix
Founded in 2017, Aquantix delivers property-level climate risk data services for the real estate and mortgage lending industries, using AI-powered models to forecast the effects of climate change on real estate, companies, and infrastructure at the asset level.
Aquantix Co-CEO Toby Messier said:
“Banks, lenders and real estate asset managers require a comprehensive understanding of the impact that climate change has on their portfolio of real estate investments. Aquantix fills this void by capturing millions of climate-related data points and providing meaningful property risk metrics that measure the estimated asset damage from emerging climate events across various time frames and scenarios.”
According to Morningstar Sustainalytics, the demand for climate-related data is rising among real estate investors, banks, and lenders and the addition of Aquantix’s technology and expertise will enable the company to help these key stakeholders assess climate-related risks in the global real estate space.
In addition, the company will also benefit from Aquantix’s strategic partnership with registry solutions company Teranet. Collaborating with Teranet, Morningstar Sustainalytics expects to deliver real estate climate data solutions to decision-makers in real estate, banking, lending, and insurance.
Azadeh Sabour, Senior Vice President of Climate Solutions at Morningstar Sustainalytics, said:
“Real estate is an asset class directly impacted by increasing physical climate risks. With the addition of the Aquantix team and their technology, we are fast-tracking our asset-level data collection and developing innovative climate-focused solutions for the commercial and residential real estate market. We are excited to bring the Aquantix team into the Morningstar Sustainalytics family and look forward to collaborating with Teranet.”