The Weekly: Climate Risk Literacy in Commercial Real Estate
Extreme weather, rising insurance premiums, new carbon regulations, and shifting market expectations are pushing commercial real estate (CRE) into uncharted territory.
Unexpected disasters are causing damage in unlikely places, forcing decision-makers in the public and private sectors to prepare for the most common disasters in their region as well as the rare, once-in-a-hundred-year ones. But strategies exist to help decision-makers prepare for the unexpected.
Extreme weather events wreak havoc on a grid not designed to endure their frequency and intensity, but there are solutions to build resiliency. 1. Modernize grid infrastructure; 2. Install more microgrids; 3. Roll out more renewable energy to reduce fossil-fuel dependence