Stranding risk: Climate change impact on real estate (CRREM-ERES Seminar 1)

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Presented by

Dan Grandage, Laura Gabrielli, Franz Fürst, Juan Jose Lafuente Cilla & Richard Hamilton-Grey

About this talk

The European Real Estate Society, together with the Carbon Risk Real Estate Monitor, are proud to invite you to our seminar. This first panel introduces climate change and stranding risk, with a focus on their impact on the real estate context. The presentations provide insight of the latest research to estimate the impact on asset values and rent, as well as provide the investor and asset managers perspective on current and future challenges to adapt to climate change and future mitigation requirements. Finally, the CRREM tool is introduced, explaining how to reduce stranding risk and ensure that real estate assets and portfolios are climate change ready. Chair: Dan Grandage, Aberdeen Standard Investments Speakers: 1. Laura Gabrielli, ERES Topic: Introduction. Climate change. Adaptation: The impact of climate change on the real estate sector (Higher temperatures, raising energy bills, extreme weather events, etc). Mitigation. Requirements from the real estate sector to reduce climate change (reduce energy consumption and carbon emissions). Definition of stranding risk and stranded assets. 2. Franz Fürst, University of Cambridge Topic: The impact of climate change and stranding risk on current and future asset values and expected rents: Energy efficiency ratings, insurance premiums, etc. 3. Juan Jose Lafuente Cilla, CRREM Topic: Presentation of the CRREM tool. Helping the commercial real estate sector to assess stranding risk and develop a carbon management plan. Cost and carbon. 4. Richard Hamilton-Grey, Nuveen Topic: The investor and asset manager perspective. The impact of uncertainty in the decision-making of real estate investments: sales and purchases. Budgeting and cost of mitigation and compliance. Capex and Opex. Data challenges for assessing climate change: reporting responsibilities, data from tenants, energy costs, offsets, etc.

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