Landmark and JBA Risk Management: A partnership delivering robust climate data to the property industry
Landmark has written an article looking at the partnership with JBA Risk Management, delivering robust climate data to the property industry.
Have a look at the Landmark Climate Change Report product here!
JBA’s UK Flood Model shows 1 in 4 UK residential properties are currently at risk of flooding. The model suggests average annual losses are at £527m. That figure rises to a hefty £1.9bn without flood defences.
As climate change takes hold, we can expect wetter winters and drier summers, and with that, greater frequency and severity of surface water flooding.
Findings from JBA’s UK Flood Model, which includes two climate scenarios representing intermediate and unmitigated warming by 2050, suggest that the UK could see an increase of up to 87% in average annual losses to residential properties if no action is taken to reduce greenhouse gas emissions.
The cost of a 200-year flood event could escalate by 42% to £8.4bn by the middle of the century in a no-action scenario.
This increased risk means we need increased awareness – which we can achieve with joined-up, consistent reporting. Property and modelling companies are on a steep learning curve.
Working together, alongside the academic community and regulators, these fast-learning companies can translate climate science into usable data that is fit for purpose. After all, continuously sharing good-quality peer reviewed details, learnings and updates benefits everyone.
Dr. Emma Raven, Technical Director, JBA Risk Management, says:
“With different modelling firms adopting different methods and using different input datasets, users of climate change property data should be prepared for a wide range of views on flood risk.
“This makes it crucial to understand both methods and sources of uncertainty.”
A partnership built on delivering trustworthy, reliable insights
Landmark Information Group and JBA have been working together for more than a decade to deliver powerful data to the hands of property professionals. JBA’s market-leading flood risk data, maps and climate change data makes them Landmark’s perfect partner to deliver the scientifically robust, high-quality insights their clients need.
How is JBA Risk Management’s data different from the baseline data used in Landmark’s standard flood reports?
For the benefit of its customers, Landmark requested specific climate change scenarios (RCPs) over nominated time horizons with different intensity of risk (return periods) for fluvial, pluvial and coastal surge flooding.
This close collaboration culminated in layers of intelligence and enabled risk assessment for many potential alternative outcomes across mainland Great Britain.
The JBA Risk Management’s flood maps that feature in Landmark’s Climate Change report build on baseline data to offer further insights into potential outcomes based on various climate change scenarios.
These scenarios, informed by UK Met Office projections, enable comparisons between current and future flood risk, providing a nuanced understanding of how conditions might evolve.
How reliable is the data Landmark is harnessing from JBA Risk Management?
JBA’s meticulous approach has rigorous quality control processes and uses scientifically credible data sources, employing robust verification methods.
In developing baseline flood maps, JBA reviews and verifies all elements of the process, including data input, to create validated state-of-the-art detailed flood maps.
For climate change data, JBA uses its experience, applies its robust development expertise and works with scientifically credible data to create an illustration of possible flood risk outcomes.
The JBA Climate Change Flood Data provided to Landmark uses industry-leading climate change projections from the UK Met Office (the UKCP18 dataset), which goes through its own rigorous validation and examination in peer-review literature.
Why is Landmark and JBA Risk Management’s partnership important?
The longstanding partnership between JBA Risk Management and Landmark reflects a shared commitment to excellence and innovation.
Flood data can be complex, so partnering with Landmark, with its prowess in interpreting and presenting data for specific markets, is the natural, practical solution. Landmark’s mastery in drawing together a wide range of risks in a user-friendly format is invaluable.
Simon Waller, Exec Chair, JBA Risk Management, comments:
“The introduction of JBA Climate Change Flood Data to Landmark’s new Climate Change Report product marks a significant step forward, enabling Landmark clients to consider future flood risk in more detail.
“No-one can predict exactly what the future holds, but access to JBA’s scientifically robust flood risk insight will enable conveyancers to offer credible and practical information about potential risk in a changing climate.
“Landmark is a valued and long-standing partner, and we are delighted that JBA data is part of this forward-looking opportunity.”
The strong partnership between Landmark Information Group and JBA Risk Management enables the delivery of invaluable insights to market.
Together, equipping businesses and individuals with the tools to navigate the evolving landscape of climate change with confidence and resilience.
Explore the Landmark Climate Change Report product and access these critical insights.
Kindly shared by Landmark Information Group
