Resources How Can Owner-Operators Build Climate Resiliency for Properties?
How is climate change effecting the commercial real estate industry and what are some tools owner-operators can use to help create climate risk strategies for properties?
“The road to climate stability is paved with the stones of bold decisions.” – Christiana Figueres, diplomat and international climate negotiator.
In the last decade, extreme weather acevents have surged by nearly 40%, showing a continuing increase of our climate’s chaotic nature (National Association of REALTORS®). In 2023, this realization of escalating climate change caused commercial real estate (CRE) insurance costs to increase by 12% (TIME). This fluctuation underscores today’s urgency for property resilience that owner-operators need to embrace to combat the onslaught of ever-shifting environmental conditions. As challenges such as extreme weather, rising sea levels, and extreme temperatures become more apparent, ensuring long-term operational stability and market value are critical priorities for the CRE industry.
How can you create climate risk resilience and stability for commercial real estate?
The 21st century has seen profound advancements in technology within the CRE sector. These advancements have opened new innovative solutions to owner-operators to help identify risk, create sustainability, and build resiliency. Using technology to identify vulnerabilities and develop strategic responses to climate risk has become a necessity. These measures can not only enhance resilience against the adverse effects of climate change but also reduce the environmental footprint of CRE properties. This article highlights key indicators of climate resilience and explores the tech innovations that are transforming the commercial real estate landscape. By providing transparency into these strategies, owner-operators can better navigate the complexities of climate resilience, ensuring the stability of their properties in an increasingly unpredictable world.
What are some measurable indicators of climate resilience?
What technologies utilize climate data to build resiliency in commercial real estate?
Adapting to the increasing threats posed by climate change is no longer optional for commercial real estate owner-operators; it is a necessity. The integration of comprehensive climate risk assessments and resiliency strategies are fundamental steps in fortifying properties against environmental uncertainties. These measurements in combination with technological advancements are revolutionizing the CRE sector, providing innovative solutions to enhance climate resilience. These technologies enable real-time monitoring, precise risk assessment, and strategic planning, which are crucial for adapting to an unpredictable future. Embracing adapting to these new advancements will equip owner-operators to face the challenges of climate change head-on, transforming potential vulnerabilities into growth and innovation opportunities. By staying ahead of the curve and being proactive about climate resilience, the CRE industry can secure a sustainable and prosperous future.
As Head of Business Development at Envirosite, an ADEC company, Steve Santos leverages over 25 years of industry experience to drive growth through strategic sustainability initiatives. His extensive background gives him the knowledge and understanding to foster transparency and collaboration, ensuring mutual prosperity in environmental due diligence and sustainability.
Sign up to receive the latest on issues that matter.
Stay up to date with our latest thinking on transforming data into impact.
Do you have a solution that would make a good addition to the ADEC Enterprise Marketplace? Fill out the form below and we will be in touch within the next 1-2 business days.
Do you have a solution that would make a good addition to the ADEC Enterprise Marketplace? Fill out the form below and we will be in touch within the next 1-2 business days.