SUSTAINABLE DEVELOPMENT SOLUTIONS

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“There are two levels of risk. Risk today and what that analysis projects — the incremental risk in the near future,” said CoreLogic’s Tom Larsen. 

“Risk varies block by block and varies whether you are on low ground, near a canal, river, or lake. Miami is at ground zero with flooding and California has increased risk from wildfires, but the risk is increasing everywhere.

In Ohio, you have spring floods, more severe storms, more ice forming dams in rivers — that can put many more at risk.”

Larsen noted skyrocketing insurance rates in Florida (due to storms and flooding) and in California (due to wildfires). 

He said data can help property owners to perform a sound cost-benefit analysis.

SUSTAINABLE DEVELOPMENT SOLUTIONS

START WITH ASSESSING THE RISK TO YOUR OWN PROPERTY/COMMUNITY

Tom Larsen, senior director of Content Strategy at CoreLogic Inc., participated in the NAR climate summit. 

CoreLogic provides proprietary information to clients.

He noted there are more than 120 million homes in the United States and all need to be more aware of the risk of climate change and what sustainability practices can protect them.

SUSTAINABLE DEVELOPMENT SOLUTIONS

START WITH ASSESSING THE RISK TO YOUR OWN PROPERTY/COMMUNITY

“Our primary mission is making this data available to people who don’t have access to these resources,” First Street Foundation’s Jeremy Porter said.

“Climate impact is applicable across the country and there is risk to residential and commercial real estate and the communities they are in.”

Porter said FloodFactor can help individuals to demand that their communities do not build in places that are not safe. 

He noted many cities and counties have not dedicated resources to analyze flooding data so they can plan for resiliency.

“Even if your home is relatively safe, if your power station is at risk, if your government buildings and facilities are at risk, your community may not be sustainable,” he said.

“This can impact your tax base, supply chain, access to essential goods and the ability to recruit employees and employers.”

SUSTAINABLE DEVELOPMENT SOLUTIONS

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“We are saying ‘don’t worry about 2100, this is happening now,’” said First Street Foundation’s Jeremy Porter. 

“There are historic signals now: tidal flooding and 100-year storms are happening more frequently, there’s more water in the streets and property values aren’t appreciating in some flood-prone areas.”

Porter is aware that climate science, predictions of doom and the high cost of addressing it can tempt many to bury their head in the sand.

So, First Street and its partnerships aim to make science more accessible and digestible.

SUSTAINABLE DEVELOPMENT SOLUTIONS

START WITH ASSESSING THE RISK TO YOUR OWN PROPERTY/COMMUNITY

First Street Foundation’s Jeremy Porter said FEMA flood hazard maps help flood plain managers and planners, but they don’t take individual property risk — from multiple impacts of climate change — into account.

“For most, a home is the largest purchase in their life, so we developed crucial information at a property level and made it publicly accessible,” said Porter, noting that First Street has partnered with REALTOR.com to share information.

SUSTAINABLE DEVELOPMENT SOLUTIONS

START WITH ASSESSING THE RISK TO YOUR OWN PROPERTY/COMMUNITY

“Imagine being able to access data that used to cost a small fortune for big companies.

Now people can access state of the art flood model information for free at FloodFactor,” said Jeremy Porter, chief research officer of the nonprofit First Street Foundation.

“We built a model partnering with more than 80 universities and experts looking at storm surge, tidal flooding, precipitation and riverine flooding.”