The flooding in the midwest has a direct connection to climate change. No other than real estate investment trusts that know this all too well.
So I spoke with one of the analysts at California’s Four Twenty Seven. A Berkeley based market intelligence provider that develops climate risk data for financial markets.
For flooding, Four Twenty Seven analysts provided data and information on the real estate hits. In other words, where an area has taken to flooding.
As well as the hit insurance companies will take. Also, the credit rating, or municipal bond rating of the areas affected by fires.
They are also focused on the climate change aspect. Coming from Nik Steinberg, Director of Analytics for Four Twenty Seven.
Source: Weather Channel
Furthermore and As the Weather Channel reported back during the flooding in Nebraska alone.
Even as new evacuations ordered Wednesday, officials are already beginning to tally up. It’s the damage from the historic flooding that has devastated the Midwest. All which is likely to be in the billions when the full scope of the disaster realized.
Nebraska Gov. Pete Ricketts told reporters the “preliminary and first” damage losses from the flooding in the state estimated to be more than $1.3 billion. That’s including $439 million in infrastructure losses, $85 million in private homes and business losses. Likewise $400 million in livestock and $440 million in crop losses.
Ricketts said these estimates included in a letter to the Federal Emergency Management Agency (FEMA). Ricketts asked FEMA to initialize a federal emergency declaration.
It’s an interesting climate whiplash. The story here is actually about heat. As well as how heats role in early snowmelt and permafrost melt. Specifically, early season heat. Seasonality and untimely heat that is a ubiquitous feature of climate change. As a result, manifesting today through both heatwaves and spring/ snow flooding.
Climate Risk, Real Estate, and the Bottom Line
So on OCTOBER 11, 2018 in BOSTON, MA Four Twenty Seven & GeoPhy Released the First Global Dataset on Real Estate Investment Trusts’ Exposure to Climate Change.