By Dorit Ziv, Partner Energy, and Justin Lia and Gary Cohn, Partner Engineering and Science
Hurricanes on the East Coast. Wildfires in the West. Record temperatures and consecutive storm events throughout the country. Extreme weather events each year result in billions of dollars of damage and even deaths. The Federal Reserve Board of Governors noted in March 2021 that climate change can result in “direct financial risks, prompting a reassessment of asset values, changing the cost or availability of credit, or affecting the timing or reliability of cash flows.”
Sustainability expert Dorit Ziv, structural engineer Justin Lia, and architect Gary Cohn discuss ways to incorporate ESG+R metrics into due diligence and gather actionable data to improve resilience to climate-related events and the long term impacts of climate change in this article from NAREIM Dialogues.