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New method to assess climate risks to real estate
Together with various real estate parties, the Netherlands Ministry of Infrastructure and the Environment, and Climate Adaptation Services are working on a standard approach to assess the physical climate risk for real estate portfolios. A standard approach is desirable to create a level playing field in which there is transparency about the method and data used, and the assumptions underlying them.
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IPCC report: ‘Climate Change 2022: Mitigation of Climate Change’ - Summary for Policymakers
The Summary for Policymakers (released on 4 April 2022) presents the key findings of the Working Group III Report, as a contribution to the Sixth Assessment Report of the IPCC. The Working Group III Report provides an updated global assessment of progress in climate change mitigation and related pledges, and examines the sources of global emissions. A new chapter on innovation, technology development and transfer, can contribute to and achieve both mitigation and adaptation targets, along with broader sustainable development goals.
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Global Risks Report 2022
The 17th edition of the Global Risks Report of the World Economic Forum identifies tensions that will result from diverging trajectories and approaches within and between countries and then examines the risks, such as climate action failures leading to extreme weather events (described in Chapter 2), that could arise from such tensions. This year’s report highlights the implications of these risks for governments, businesses and individuals.
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Recommendations for conducting climate risk assessments at the municipal level
In view of the ever-increasing progress of climate change, assessing the risks is becoming increasingly important. Especially at the municipal level, the effects of climate change need to be identified and ensuing risks be assessed in order for effective precautionary action to be taken. The recommendations provided in the paper from the German Environment Agency (UBA) facilitate the preparation and implementation of climate risk assessments at the municipal level, by taking the international standard “Adaptation to climate change – Guidelines on vulnerability, impacts and risk assessment” (ISO 14091:2021-07) as a basis.
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