Atom bank has announced a major new partnership with climate tech business Kamma.

Atom will benefit from access to Kamma’s full climate suite, offering a view on both the physical and transition risks of its mortgage book. Kamma will further provide analytics on Atom’s financed emissions, improved PCAF scoring, and climate credentials on pools of assets for the purposes of securitisation.

Atom has pledged to become a carbon positive bank by 2035. The next step for Atom is to address financed emissions, which will include using advanced analytics to help the bank and its customers reduce their carbon footprint. Phase one of the partnership involves a deep review of the mortgage portfolio and strategic support from the Kamma team. Phase two will see the development of new propositions, products and customer journeys that deliver this new strategy.

Kamma has developed an advanced view on the climate profile of UK property. This includes substantial modelling and high-grade address matching to close data gaps, data integration and calibration to improve accuracy, and analytics that chart a course to Net Zero for UK property.

Edward Twiddy (pictured) director of ESG at Atom bank, said: “Banks have a crucial role to play in solving the climate challenge. Too much lending has been done by banks that has not taken account of the impact we are having on the climate, and it is important that this is changing. As a digital bank, we will use the best technology available to ensure we accurately measure emissions, understand risk and then help our customers to reduce their bills, increase the value of their property and be ready for a zero carbon future.

“The damage we have already done is clear, and we do not see any reason to delay action when the evidence and imperative for change is in front of us. I’m delighted that we are partnering with Kamma to benchmark our emissions, manage our risks and most importantly, to provide practical ways for Atom and our customers to face into the future.”

Orla Shields, Kamma’s CEO, added: “Our strategy is to partner with market leaders in order to support the development of bleeding edge propositions and light a pathway to Net Zero for other organisations. We’re hugely excited about the opportunity to partner with Atom Bank on their climate journey.”