Climate change impacts, ranging from extreme weather events to incremental challenges, affect cities and buildings globally. In the U.S., climate-fueled events cost $612 billion in the last five years. Despite this, some companies overlook climate risks, hindering long-term resilience. Diverse approaches and a lack of standardization make assessing climate risk challenging. Advanced climate modeling tools help companies understand and plan for short-term resilience, which should integrate with broader decarbonization efforts. Meanwhile, the demand for sustainable buildings, driven by corporate goals and employee expectations, outstrips supply. Transparency and accountability in sustainability are rising, but only 34% of future low-carbon workspace demand will be met globally. Cities like New York, Paris, and Sydney face unique challenges, prompting regulatory and policy shifts to mitigate emissions. The real estate industry, armed with expertise and technology, can play a pivotal role in creating low-carbon, resilient spaces. Taking timely decarbonization steps is crucial for minimizing risks and unlocking opportunities in the face of a changing climate.
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