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
| Nov 10, 2011
California seismic codes spur flurry of hospital projects
New seismic requirements in California are helping to drive a flurry of new projects and retrofits in the state’s health care sector.
| Nov 10, 2011
Senate ready to repeal 3% withholding on government contracts
The U.S. Senate is set to approve legislation that would eliminate a law requiring federal, state, and local governments to withhold 3% of their payments to contractors and companies doing business with the government.
| Nov 10, 2011
New legislation aimed at improving energy efficiency in federal buildings
Recently introduced legislation, the “High-Performance Federal Buildings Act,” would help federal agencies save energy and money by improving building performance.
| Nov 4, 2011
CSI and ICC Evaluation Service agree to reference GreenFormat in ICC-ES Environmental Reports?
ICC-ES currently references CSI's MasterFormat and other formats in all of its evaluation reports. The MOU will add GreenFormat references.
| Nov 3, 2011
House Votes to Kill 3% Withholding Requirement; Senate Yet to Vote
The U.S. House of Representatives voted last week to repeal a 3% IRS withholding tax on businesses that do work for the government.
| Nov 3, 2011
OSHA Publishes Information on Rights and Safety
OSHA recently published new and revised information that explains workers’ and employers’ rights, as well as how to protect workers from hazards in the construction industry.
| Nov 3, 2011
Sierra Club Critical of Albuquerque Mayor’s Push to Weaken Green Code
The mayor’s plan to move to a less environmentally friendly code would mean confusion for people in the construction industry and a loss of energy efficiency and money for consumers, said Shrayas Jatkar of the Sierra Club.
| Nov 3, 2011
Lax Code Enforcement Blamed for Deaths in Turkey’s Earthquake
Despite tough safety codes approved a decade ago after earthquakes killed 18,000 people, lax enforcement led to hundreds of deaths after a recent earthquake in Turkey.
| Nov 3, 2011
International Green Construction Code Will Provide Template for Local Codes
A uniform code for green construction is being readied for publication in March.
| Oct 31, 2011
NIST issues new code requirements
Buildings taller than 420 feet are now required to include an extra exit stairwell or a specially designed elevator that occupants can use for evacuations.
