This report is the result of collaboration with global investment manager Heitman, which has developed an approach to address climate risks and is working to better quantify these risks. The research addresses the state of current practice for assessing and mitigating climate risk in real estate as well as highlighting best practices across the industry. Although not all investors and investment managers have been public about their work, many have started to develop innovative strategies to assess and mitigate near-term and long-term climate risks.
It is important for the industry to come together as it addresses climate change. There are many opportunities to collaborate to help increase our understanding of the topic as well as to develop common standards, and to share successful strategies and solutions.