Morningstar Sustainalytics has acquired Aquantix, a Montreal-based technology firm that develops and provides property-level climate risk data services for the real estate and mortgage lending industries.
Financial terms of the transaction were not disclosed, a spokeswoman said in an email.
Aquantix's models "quantify the impacts of climate change" on half a billion residential and commercial assets in 180 countries, said a news release Wednesday.
With the "demand for climate-related data accelerating" among real estate investors, banks and lenders, Aquantix's technology will enable Morningstar Sustainalytics to "help these key stakeholders assess climate-related risks in the global real estate space," the news release 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," said Toby Messier, commercialization director of real estate solutions at Morningstar Sustainalytics, in the release. "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."
Morningstar Sustainalytics, a wholly owned subsidiary of Morningstar Inc., is an ESG research, ratings and data firm.