Nova Group, GBC Announces New Asset-Level Physical Climate Resilience Assessment
Updated: Jul 20, 2020
New Climate Resilience Assessment leverages Four Twenty Seven’s physical climate risk data to enable proactive risk management by commercial real estate stakeholders
July 9, 2020 - Minneapolis, MN - Nova Group, GBC, a leading environmental and engineering due diligence advisory firm, is pleased to announce new Climate Risk and Resiliency services, combining climate risk data with detailed asset-level observations and specific preparedness recommendations. A new partnership with Four Twenty Seven, an affiliate of Moody’s and a leading publisher of data and analysis related to physical climate and environmental risks, allows Nova to consider an asset’s exposure to climate risks when assessing potential resilience measures. Nova’s global workforce of engineers, scientists, and architects leverage asset-level exposure information for floods, heat stress, hurricanes & typhoons, sea level rise, and water stress to develop Physical Climate Risk Screening and Physical Climate Resilience Assessment Reports. Nova builds upon granular climate risk exposure information to provide customized, preventive recommendations and estimated costs at the asset-level.
Commercial real estate assets are increasingly affected by climate change, whether it be costly hurricane damage, increasing energy costs due to higher temperatures, or the impacts of sea level rise on asset value. As it becomes evident that every asset has its own risks and that these risks will continue to manifest in financial loss, real estate investors and property managers need to prepare. Granular, site-specific data on risk exposure is the critical first step for understanding these impacts, and it is essential to use these assessments to inform investment in preparedness. Nova’s new Climate Resilience Assessment fulfills this demand for data-driven insights into how to build resiliency, based on the risks and characteristics of the specific asset of interest.
“The single most frequent question we get from clients is ‘I know my risk now, but what do I do next?’ We are delighted to partner with Nova Group to answer this question, filling the urgent demand for site-specific guidance on how to build resilience,” said Emilie Mazzacurati, Four Twenty Seven’s Founder & CEO.
“Arguably, there is no greater risk confronting the global commercial real estate industry than climate change. We are thrilled to partner with the industry leaders of Four Twenty Seven to amplify their forward-looking, predictable, and location-specific data to create a more resilient world,” stated Ben Bohline, Nova Group’s President & CFO.
To learn more of what actions you can take, join our webinar on Tuesday July 21st “From Climate Risk to Resilience in Real Estate – Taking Action Based on Climate Data.” Hear from Nova executives and Four Twenty Seven researchers about the new resilience product and the data driving it.
This webinar will help attendees understand the escalating concern within the commercial real estate industry of the physical climate risk to assets during the acquisition or lending process and the critical importance of using climate risk data to identify assets with opportunity for resilience. The session will provide an introduction to the climate risk data used and an overview of two case studies of acquisition, asset-level climate resilience assessments. These case studies will show recommendations for hardening/mitigation measures for the assets with opinions of probable cost for potential damage in clear dollar terms that can be factored in to acquisition/lending decision making.
Jack Cummings | Vice President, Business Development | Nova Group, GBC
Robert Jackson | Vice President, Equity Markets Group | Nova Group, GBC
Yoon Kim | Managing Director, Global Client Services | Four Twenty Seven
Registration link: https://attendee.gotowebinar.com/register/3940248760285976077