The risk is real: Join the resilience resistance

As published in PropertyEU ESG Watch Magazine September 2023

Russell Garnett is Head of the Environmental Consultancy service at Hollis and published a version of this article in the magazine.

Extreme weather is no longer a distant threat. It is already affecting lives, livelihoods and the built environment. For those responsible for managing property assets, the real challenge is not just understanding climate risk, but knowing what to do about it.

Climate Vulnerability Risk Assessments (CVRAs) are becoming standard across the industry, driven by regulation and investor expectations. They provide valuable data on future risks, from flooding to extreme heat. However, insight alone is not enough. Too often, these reports sit unused, treated as a tick-box exercise rather than a practical tool.

The real value of a CVRA lies in how it is applied. Every building faces unique risks depending on its location and design, meaning there is no single solution. Effective resilience requires detailed analysis, targeted recommendations and a clear plan for implementation.

By combining data with on-site assessments, it becomes possible to prioritise risks, plan interventions and spread costs over time. This approach not only protects asset value but can also unlock access to sustainable finance, supporting long-term investment strategies.

As climate impacts intensify, the focus for the built environment must shift. Reducing environmental impact remains essential, but equal attention must be paid to how climate change is affecting buildings themselves - and how we respond.

Read more here - https://realassets.ipe.com/