You’re only as resilient as your weakest link
How might hotter, wetter and more unpredictable weather in Ontario in the future disrupt property values and challenge the well being and resilience of its citizens and communities?
Insights to the question were undertaken in a research study by a group of Toronto-based innovation and strategic foresight practitioners led by Chris Chopik, a real estate professional who has been exploring the intersection of climate change and real estate for many years.
The intent of the research was to identify information gaps in the commercial real estate sector as well as strategies for implementing emergency preparedness and developing resilience frameworks to protect property value and financial systems from the impacts of catastrophic weather events.
A 2018 report on Canada’s climate change risk identified physical infrastructure as a top risk for impending climate-related disruption. Catastrophic weather damages homes, commercial buildings, and critical infrastructure which may be irreparable as well as generates power outages and grid failures, devastating economic activity and social wellbeing.
The study identified that stakeholders in commercial real sector are not yet adequately informed and engaged as is necessary to address the pending systemic impact of catastrophic climate change events on infrastructure, business activity, public safety and community well-being.
Email address: email@example.com
Project website: https://sbcanada.org/