Real estate developers and investors are increasingly recognizing the physical and transition risks posed by climate change. The Urban Resilience program’s work on climate risk explores industry trends identified within the ULI membership, addressing topics such as disclosure, climate data and insurance innovation. Considering current and potential future market conditions, the program documents emerging practices for assessing exposure to and mitigating climate risk.
The case study library introduces real estate projects which have incorporated resilient design and seen a return on investment as a result. The site is searchable by climate hazard and value creation metrics, as well as real estate product type and region.
Since 2019, the Urban Land Institute has partnered with Heitman, a global real estate investment management firm, on conducting research at the intersection of climate risk and real estate. These reports aim to examine climate risk from the perspective of the real estate investment community and promote best practices for addressing risks. Over the period of this partnership, industry awareness and engagement with this topic have clearly shifted. To learn more about this research, check out the reports linked below.
This agenda-setting report introduces the key links between climate risk and real estate investment and focuses on how real estate investors incorporate asset-level climate risks in their investment decision-making processes. It introduces the topic of climate risk and how it will impact the real estate sector.
The second report of the series shows how leading investors are developing approaches to better understand climate risk at the city or market scale, rather than focusing primarily on risk at the asset level. Contributors to this report Arup and Milliman perform corresponding ‘deep dive’ analyses from fiscal health and insurance perspectives.
Climate migration-related risks pose serious challenges to real estate investment and society more broadly. This third report of the ULI-Heitman Climate Risk series, identifies concepts and strategies for addressing climate migration in the context of real estate investment decision-making.
This fourth report in the series examines how global regulations are driving more widespread, more comprehensive, and more auditable climate disclosure and what these new reporting requirements will mean for real estate investor decision-making. SFDR, local regulations, and the proposed SEC rule are just a few examples of new mandates requiring companies to disclose both GHG emissions and climate risks to their long-term business operations.