What is a Climate Adaption Strategy?
A Climate Adaptation Strategy anticipates the adverse effects that climate change has on the built environment (i.e. increased flood risk, heat stress, drought and wind damage, etc).
Climate Adaptation Strategy is required to reduce the risk and damage that climatic changes might pose to both property and society.
Understanding climate risks has become increasingly important for investors as the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), June 2017 release, informs us.
Longevity’s role is to identify the climate change risks your asset is facing and advise you on the most appropriate adaptation measures to prevent or minimise the damage they can cause and take advantage of opportunities that may arise such as increased building occupancy and attractiveness.
Why is Climate Adaption Strategy important to the Built Environment?
The increasing physical impacts of climate change, bringing warmer temperatures, increased water scarcity, and more frequent and severe weather events, pose immediate and long-term threats to the property sector. Adaption measures are therefore imperative to protect assets and provide long-term resilience.
How does a Climate Adaption Strategy Benefit You?
There are many ways a thorough Climate Adaptation Strategy can benefit your business. Main benefits include:
- Identification of current and future climate change threats on assets based on scientific indicators;
- Geospatial representation of vulnerable hotspots and areas;
- Adaptation recommendations for the protection of value of real estate assets;
- Prioritisation of adaptation measures with regards to budget and business plans;
- Assessment of the potentially varied local risks through spatial analysis using Geographic Information Systems (GIS);
- Property acquisition advisory for investors and occupiers in relation to climate change risks.
How can Longevity help you?
We can guide you through your climate risk adaptation process, from identifying the main risks your assets are facing to finding the best adaptation measures.
Our services include:
- Identifying the main climate change threats your assets face using scientific indicators and up to date environmental data;
- Identifying spatial hotspots of climate risk for future allocation of assets and existing assets using the most up to date GIS tools;
- Advising you on the feasibility and costs of adaptation measures;
- Advising you on the most up to date technologies for adapting to climate change risk;
- Providing cost-saving analysis through innovative recommendations.
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