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 | May 29, 2020
AIA releases new, updated sustainable project documents
Streamlined sustainable design and construction process included.
Codes and Standards | May 28, 2020
USGBC outlines how it will support pandemic recovery efforts
Includes emergency guidance and upgrades to the LEED green building program.
Codes and Standards | May 27, 2020
Office market could be COVID-19 casualty
As companies get used to work at home, post-pandemic office market could collapse.
Codes and Standards | May 26, 2020
Architectural Reuse Council will step up efforts to reuse construction waste
Cabinets, appliances, lighting, and lumber diverted from landfills to be repurposed.
Codes and Standards | May 26, 2020
Is CLT really a green solution?
Sustainability depends upon forest stewardship, product manufacturing process.
Codes and Standards | May 20, 2020
St. Louis is first Midwest city to pass building energy performance standard
Allows owners broad flexibility on how to achieve goals.
Codes and Standards | May 20, 2020
Supreme Court says Georgia cannot copyright its entire official code
Ruling may have implications for other states claiming copyright for building codes.
Codes and Standards | May 18, 2020
Strategies to reduce personal contact in multifamily properties
Design can improve health amid COVID-19 pandemic.
Codes and Standards | May 18, 2020
Canada Green Building Council says building industry lacks zero-carbon skills, knowledge
Net-zero target requires shift in thinking and practices.
Codes and Standards | May 18, 2020
California’s grid can support all-electric buildings
Load-shifting will help reduce peak demand.
