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Physical climate risk in the built environment–an institutional investor view

Author

Listed:
  • Lian Plass
  • Spenser Robinson

Abstract

This study investigates how institutional real estate investors incorporate physical climate risk into decision-making. Through interviews, supplemented by survey analysis, the paper discusses current practices, challenges, and motivations in using climate risk analytics for investment evaluation. Key findings reveal variation in risk models, regulatory pressures, and strategies such as resilience investments and cap rate adjustments to address climate-related vulnerabilities. The paper highlights a need for standardized, transparent tools to improve risk comparability and supports the growing integration of climate resilience into valuation practices to bolster long-term asset stability.

Suggested Citation

  • Lian Plass & Spenser Robinson, 2025. "Physical climate risk in the built environment–an institutional investor view," ERES eres2025_237, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2025_237
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2025-237
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    Keywords

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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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