Real Estate Market Embraces Climate Risk Assessments for Properties
Rising Awareness Assessing Climate Risks: Methodologies and Tools The real estate industry’s growing awareness of climate risk assessments has led to the development of various methodologies and tools for evaluating these risks. One approach is qualitative, relying on expert opinion and scenario planning to identify potential climate-related hazards and vulnerabilities. For instance, a property in a flood-prone area may be deemed high-risk due to its location. Quantitative Methods On the other hand, quantitative methods use data analysis and statistical models to estimate the likelihood and impact of climate-related events....