The real estate sector is facing increasing economic impacts in our changing climate with weather-related disasters causing significant financial stress to property owners. This includes rising insurance costs or loss of coverage as has been seen in recent years in areas such as the US Gulf Coast and wildfire-prone regions of the western US. As the impacts of climate change continue to increase, the need for improved resiliency has never been greater.
The session will first examine how escalating weather disasters are reshaping the real estate sector and the challenges posed to property owners and insurers. While challenges are mounting, new tools and techniques are being developed to help mitigate and adapt to our changing climate. Industry experts will provide examples of new and ongoing work to help make the real estate sector more resilient to extreme weather for today and for tomorrow. Finally, existing opportunities and gaps will be addressed as motivation for future research and development.
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