News posting

First-of-its-kind Residential Property Climate Risk Product Goes Live

Posted: Wednesday, April 21, 2021

Over the past few months, the team at CLIMsystems has been developing an exciting new tool that provides homeowners and investors with the opportunity to improve their property’s resilience to climate change. As the visual impacts of climate change gains momentum, the world is experiencing a range of extreme events, from the wildfires in Australia and California to the record flooding in Indonesia. CLIMsystems identified that a full-proof tool was need for residential property owners, and investors to assess risks to what is typically either a person or family’s greatest economic asset – a home. Based on robust climate data and information, individuals can easily access complex climate information and use the outputs for decision-making on property investments or adapt a property they either already own or occupy. The Property Climate Risk Report – Residential instantaneously provides practical and comprehensive information on climate risk, rating of that risk over time and adaptation options.

The magic of this tool is that it only requires a few clicks. Your property report is generated from world-class climate data, which is also automatically emailed to you. The tool can be applied to any residential property on the planet! These reports are particularly desirable for property owners, investors or sellers. Homeowners can identify the most significant risks they may face, and guidance on adaptation options for these specific risks is provided. Investors can also use this tool to indicate projected climate risks for any number of properties they own or use it to identify any economic risks that could occur when looking into purchasing a property.

The fundamental variables, including climate and earthquake zones, monthly precipitation, mean temperature, extreme daily precipitation, extreme wind speed, aridity index and heatwave days, are all provided for an affordable price as part of the basic report package. For users interested in finding out more about their property, one or more additional variables such as cooling degree days, heating degree days, wildfire, sea-level rise, and extreme high-water level at the coast can be added. Each climate variable uses historical values and provides the projected changes for the years 2030, 2050, 2070 and 2100 for each residential property. A risk rating is also provided to assist in prioritising any adaptation planning that may be considered.

The team at CLIMsystems has ample experience, having completed more than 200 projects in over 50 countries. CLIMsystems focuses on climate risk assessment and reporting, software and data provision, training and capacity building, and consultancy. The group constantly updates the global climate data and develops the world’s best climate model outputs. Therefore, the combined experience at CLIMsystems has proven yet again its ability to produce a world-class, first-of-its-kind tool such as the Property Climate Risk Report – Residential.

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