A new industry that aims to rate the risk of climate change for individual properties is emerging.
Similar to how Moody’s and Standard & Poor’s rate private companies’ creditworthiness, firms such as Climate Check, First Street Foundation, Jupiter Intelligence, Moody’s ESG Solutions Group, and RMS are assessing climate risks including flooding, extreme heat, and wildfires based on the attributes of their locations.
Risk raters use recent natural disasters to gauge how effectively their models are at predicting risk. They combine peer-reviewed research in climatology and hydrology with a climate change model to produce risk maps.
“Some models are scientifically sound and highly precise, while others are lower quality,” writes Matthew E. Kahn Provost Professor of Economics and Spatial Sciences at USC. Kahn favors having the federal government set standards for this new ratings realm “to ensure that it provides reliable, accurate information.”
Related Stories
| Feb 7, 2014
Los Angeles officials struggle to deal with needed seismic retrofits
Sixteen years ago, the Los Angeles City Council decided against requiring retrofits of existing buildings because of the projected cost and the threat of losing 20,000 apartment buildings.
| Feb 7, 2014
EPA, Freddie Mac collaborate on energy- and water-efficient apartments
Freddie Mac will gather data on energy and water use from property owners, and encourage lenders to spend on energy-efficient investments for multifamily housing.
| Feb 7, 2014
ASHRAE releases new refrigerant standards
The 2013 editions of ASHRAE’s major refrigerants-related standards, incorporating 41 new addenda, have been published.
| Feb 7, 2014
Ohio legislature moves to bar LEED standards on state projects
The use of LEED standards is being barred for public construction in Ohio under a state senate resolution.
| Jan 31, 2014
Center for Environmental Innovation in Roofing releases solar panel racking criteria for asphalt shingle roof systems
The Center for Environmental Innovation in Roofing’s PV Taskforce is releasing the first public draft of PV Racking and Attachment Criteria for Effective Asphalt Shingle Roof System Integration for an initial round of public comment.
| Jan 31, 2014
Developers are exceeding LEED standards for marketing purposes
Using LEED certification as a marketing tool is perceived by developers to be a successful tool, and this has pushed them to go above the minimum requirements at each level of certification, according to a study in the Environmental Science & Technology journal.
| Jan 31, 2014
OSHA extends feedback period for disclosure of workplace injuries proposal
The Occupational Safety and Health Administration said it would extend the comment period for a proposal that would require employers to submit electronic reports of workplace injuries and illnesses.
| Jan 31, 2014
DOE releases new efficiency standards for halide lamps
The Energy Department has finalized new energy efficiency standards for metal halide lamp fixtures, which are used in lighting for big box stores and parking lots.
| Jan 31, 2014
New LEED online platform now available for LEED v4 projects
LEED v4 projects will be the first to experience the new LEED Online platform with streamlined documentation and processes.
| Jan 26, 2014
New York extends, enhances tax abatements to promote green roofs
The expansion of a tax-abatement program for green roofs under New York state law doubles the previous maximum benefit of $100,000, adds new plant species to the list of those applicable for the tax break.
