A new industry that aims to rate the risk of climate change for individual properties is emerging.
Similar to how Moody’s and Standard & Poor’s rate private companies’ creditworthiness, firms such as Climate Check, First Street Foundation, Jupiter Intelligence, Moody’s ESG Solutions Group, and RMS are assessing climate risks including flooding, extreme heat, and wildfires based on the attributes of their locations.
Risk raters use recent natural disasters to gauge how effectively their models are at predicting risk. They combine peer-reviewed research in climatology and hydrology with a climate change model to produce risk maps.
“Some models are scientifically sound and highly precise, while others are lower quality,” writes Matthew E. Kahn Provost Professor of Economics and Spatial Sciences at USC. Kahn favors having the federal government set standards for this new ratings realm “to ensure that it provides reliable, accurate information.”
Related Stories
| May 17, 2013
LEED v4 has provision to reduce water use in cooling towers
The next version of the U.S. Green Building Council's LEED rating system will expand water-savings targets to appliances, cooling towers, commercial kitchen equipment, and other areas.
| May 15, 2013
New York City Council okays plans for Cornell's huge net-zero tech campus
Cornell University's proposal to build a two million sf tech campus on Roosevelt Island has been approved by the New York City Council.
| May 15, 2013
Center for Green Schools, Architecture for Humanity release new tool for green schools
The 70-page guide demystifies the processes of identifying building improvement opportunities and finance and implementation strategies.
| May 15, 2013
AAMA extends NAFS certification on fenestration products
The American Architectural Manufacturers Association (AAMA) announced the release of an interim procedural guide that will provide a documented, optional process to extend current, unexpired AAMA product certification to any edition of AAMA/WDMA(/CSA) 101/I.S.2(/A440), North American Fenestration Standard/Specification for windows, doors, and skylights (NAFS).
| May 9, 2013
New developments would face tougher stormwater rules than redeveloped sites under EPA proposal
New developments would have to meet more stringent stormwater-retention standards than redeveloped sites under a forthcoming Environmental Protection Agency proposal.
| May 9, 2013
Proposed ASHRAE systems manual uniform procedure guideline open for public review
A proposed guideline that will establish a uniform procedure for transmitting design, construction, testing, and operational information to building owners and operators is open for public comment.
| May 9, 2013
Post-tornado Greensburg, Kan., leads world in LEED-certified buildings per capita
Six years after a tornado virtually wiped out the town, Greensburg, Kan., is the world's leading community in LEED-certified buildings per capita.
| May 9, 2013
SMACNA’s new HVAC sound and vibration guide open for public review
Sheet Metal and Air Conditioning Contractors National Association’s (SMACNA’s) new “HVAC Systems Sound and Vibration Guide” is available for a 45-day public review.
| May 9, 2013
NSF Sustainability launches VOC emissions testing, certification for commercial furniture industry
New program offers sustainable certification and indoor air quality testing for commercial furniture makers.
| May 1, 2013
House bill would give OSHA more authority over state workplace-safety plans
A recently introduced U.S. House of Representatives bill would give the Occupational Safety and Health Administration (OSHA) more authority over state workplace-safety plans and toughen penalties for companies that knowingly violate OSHA regulations.
