Sustainalytics has acquired property-focused climate risk data provider Aquantix.
Montreal-based Aquantix develops and delivers data services for the real estate and mortgage lending industries. It claims to provide Artificial Intelligence-powered models to quantify the impacts of climate change on half a billion residential and commercial assets in 180 countries.
"With the demand for climate-related data accelerating among real estate investors, banks, and lenders, Aquantix’s technology and expertise will enable Morningstar Sustainalytics to help these key stakeholders assess climate-related risks in the global real estate space," Sustainalytics said.
It added that it would also benefit from Aquantix’s partnership with Teranet, a provider of registry products, real estate platforms and data and analytics. Canada-based Teranet includes Aquantix’s property-level climate risk data to its products to provide federally regulated financial institutions and regulators with data.
The financial terms of the deal were not disclosed.