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
Codes and Standards | Aug 25, 2021
Study finds racism, discrimination common in construction industry
NIBS to share best practices with industry leaders to improve worker treatment.
Codes and Standards | Aug 24, 2021
White paper addresses insulated metal panel specifications for roofs and walls
Pertains to provisions of the National Building Code of Canada.
Codes and Standards | Aug 24, 2021
KTGY releases free resource to reduce carbon footprint in multifamily developments
Helps navigate Denver Green Code measures—a series of voluntary codes.
Codes and Standards | Aug 19, 2021
Massive infrastructure bill includes hundreds of millions for building energy efficiency
Funds allotted for updated code implementation, construction technology, K-12 efficiency programs.
Codes and Standards | Aug 18, 2021
Fannie Mae green bonds program could be greenwashing
Analysis shows significant number of green bond properties become less efficient.
Codes and Standards | Aug 17, 2021
Three Texas cities head list of most environmentally vulnerable
Hazard analysis includes natural disasters and government response categories.
Codes and Standards | Aug 16, 2021
Bill would reform New York’s public contracting process
Council on Public Contracting Reform to have contractor representation.
Codes and Standards | Aug 12, 2021
AGC pushes for more environmentally friendly construction
Contractor trade group supports government investment, tax incentives to reduce carbon footprints.
Codes and Standards | Aug 11, 2021
Decentralized approach to codes means emissions reduction responsibility falls on local officials
Efficiency advocates focusing more on local code amendments.
Codes and Standards | Aug 10, 2021
Dept. of Energy issues model energy code determinations for commercial, residential buildings
2021 IECC offers 9.4% site energy savings.
