Climate change and its associated risks such as flooding, require assessing potential impacts on property assets to avoid depreciation in value. EU regulations may soon mandate reporting on physical climate risks, emphasizing the need for transparency, openness, and standardization in risk assessments. Our new public deliverable D2.9 Physical climate risk assessment approach for international real estate portfolios provides real estate professionals with a transparent approach, using open and freely available data, to understand and evaluate flood risk exposure in European real estate portfolios. Addressing the shortcomings of current ‘black-box’ approaches, we introduce a fully transparent, free-to-use “Real Estate Asset Climate Testing (REACT) Tool,” which calculates Expected Annual Damage (EAD) for individual assets and portfolios using EU-level open data in a simplified way. This tool serves as a screening process for real estate practitioners to assess flood risk in their EU-level portfolios, enabling informed decisions to tackle climate change-induced risks.
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This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 101036599.
This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 101036599.
Short summary: A story about Jan and Maria during extreme precipitation.
Theme: Flooding
End user: Citizens