Civil society: A voice for homeowners
For many individuals, their homes are their single, most significant investment in their lives. Yet homeowners are often the last to know about their current or impending property’s risk to extreme weather events or what they can do to mitigate these risks. To address this challenge, XDI’s sister organisation, Climate Valuation, was created, providing home owners and home buyers with an immediate on the spot risk rating for individual properties and placing residential datasets in the public domain.
About Climate Valuation
Climate Valuation is the first, and only, company to provide professional investment-grade physical climate risk analysis to individual property owners on a global scale. It makes climate risk accessible, easy to understand and actionable for individuals and communities so people can “see change coming” and make more informed decisions. Like XDI, it is part of the Climate Risk Group.
Climate Valuations property analysis of Australia has driven public communication about risk hot spots, planning laws and the role of banks, regulators and insurers in climate risk assessment and mitigation.
- In 2019, the Australian Broadcasting Corporation produced an in-depth digital journalism feature called “Rise of the Red Zones of Risk” exploring the suburbs and towns with high concentrations of high-risk properties according to our data analysis. There are now frequent stories in Australia about the lack of availability of insurance in high-risk areas, and the conversation has turned to the reputation risk for banks and insurers in abandoning vulnerable people and communities.
- In 2022, Climate Valuation collaborated with science communications NGO The Climate Council, providing them with the data behind a map and report which secured among the highest media attention of any report they have released ahead of the Australian election this year, including via the BBC.
- The same dataset was provided to the Reserve Bank of Australia which included it in its review of climate change risks to Australian banks. It has gone on to use the data to estimate the effect of the climate scenarios on banks’ CET1 ratios relative to the baseline.
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