The real estate industry is already paying a steep price for extreme weather events. A foretaste of what’s to come, this year’s disastrous floods in Germany destroyed €5 billion of insured assets. By the 2050s, 37% of real estate in lower Manhattan is expected to be threatened by storm surges, according to a U.S. Climate Resilience Study.
It’s clear: its vast number of physical assets makes the real estate industry incredibly vulnerable to climate risk. Decision-makers must adapt swiftly and strategically now to protect their assets.
Real Estate leaders can no longer afford to be reactive when it comes to climate risk. Investors in REITs, shareholders, and insurers, expect real estate businesses to have an understanding of their climate risk at an asset level, and be working towards adaptation as part of a climate intelligent future.
Your business can help build that future: asset by asset, decision by decision.