ULI Europe reposted this
ULI Europe's Emerging Trends report found that 83% believe physical climate risk to be a critical factor in the financing of real estate. How is the industry responding? At yesterday’s Urban Land Institute C Change Summit, AXA Investment Managers' Thomas Van Rompaey (CESGA), Institutional Investors Group on Climate Change (IIGCC) Anne Chataigné FRSA and Observatoire de l'immobilier durable's Juliette Lefébure-Wirth and Geoffroy Gourdain explored methods for pricing physical climate risk. Key discussion points from the more than 75 CRE leaders that attended the Investing in resilience: The impact of physical climate risk on asset value workshops? > Physical climate risks can impact both owners and tenants - and both parties could benefit from coordinated risk reduction > Pricing physical climate risk is complex; and therefore challenged to fit within the scale and speed of traditional CRE practices > Data collection and validation remains an obstacle due in large part to the inherent uncertainty of climate change and the reality of market scale dependencies Find case studies, resources and opportunities to engage in the comments - and stay tuned as ULI, our members, and our partners continue to tackle the global challenges of physical climate risk. Grateful to Simon Chinn, Aleksandra Smith-Kozlowska, and Joey Udrea for their help planning and executing these workshops and to Sophie Chick and the whole ULI Europe team who made this years C Change Summit happen!