Our world is changing rapidly in many areas. “Stationarity” is no longer a viable assumption in political, social, and economic realms - and our physical climate, as well. In the past, performing property-specific, flood and climate risk assessments using engineers and consultants with analog methods has been a long and expensive process for corporations with large numbers of properties under ownership or management. Now, big data, algorithmic cloud computing and geographic information systems make this risk modeling and communication fast, accurate and affordable.
Armed with high-quality, actionable information, investment professionals and Corporate Sustainability and Risk Management Teams can rapidly triage:
- which properties need to be sold;
- which can be purchased;
- which need to be protected; and,
- which need to be insured and for how much.
New technologies will help companies achieve greater resilience from climate change and greater sustainability and profitability in the turbulent years ahead.