To do this, we need to familiarize ourselves with the data projections that scientists, insurance companies, and others are publishing related to our cities and regions - 5, 10, 20 years down the road. This data needs to influence how we view our sites today.
As we study the trends and innovations of professional designers and developers, we also need to learn from community-led activists, who hold valuable lived experience and are generating their own cost-effective solutions to addressing climate change in their neighborhoods.
To learn more, visit Environmental Justice and Real Estate | ULI Knowledge Finder
2. Climate change is a threat multiplier that demands “progress over perfection”
Not only is climate change here today, but it’s also magnifying the challenges before us. From disasters that are increasing in frequency and intensity, to the billions of dollars in investment that we are losing in worker productivity due to extreme heat events, climate change is a compounding threat that will increasingly affect nearly every aspect of our lives.
We need economic, social, and environmental resilience to address the cascading impacts of climate change and need to prioritize strategies that offer co-benefits, paying dividends even on non-disaster days. There is no magic bullet for the multifaceted challenge of climate change and there is no time to waste. We need to lead with our best attempted solutions to these complex problems even if we risk occasionally getting it wrong in the process. We must prioritize progress over perfection.
To learn more, visit Greening Buildings for Healthier People | ULI Knowledge Finder
3. The importance of data and investing for multiple wins
Insurance companies are already leveraging AI and data analytics to predictively determine high risk areas and investors are similarly looking to better understand long-term climate risk and projected future site conditions.
Decarbonizing our built environment will help to stave off the worst-case scenarios of climate change. But we can’t stop there. Making real progress will require a balanced approach of combining the concepts of climate change mitigation (reducing greenhouse gas emissions) and climate change adaptation (planning for living within our changing climate).
We need to be pragmatic with our objectives and work to integrate climate change adaptation and mitigation efforts into all our scopes and scales of design and development, as informed by data and successful investment.
To learn more, visit How to Choose, Use, and Better Understand Climate-Risk Analytics | ULI Knowledge Finder
4. The need for scalable innovation
As we seek this balance, it’s impossible to dismiss the sheer scope of our climate challenges. We need scalable innovation and solutions to tackle climate change effectively.
Learning from the best practices of the Resilience Summit, we should have our goals set high for advancing portfolio-wide risk reduction. According to Bloomberg Intelligence, Environmental Social and Governance (ESG) assets may surpass $50 trillion by 2025 and we're already seeing innovative, scalable models of development that address multiple ESG goals. For example, this development creates new home for Toronto Public Library Branch (building.ca), which describes a model for social infrastructure that is now being replicated across the city.
This progress is inspiring, and we will need to continually scale up our solutions to meet the demands of climate change and adaptation in our built environment.
Read more here: Social Spaces Resilient Communities - Social Infrastructure as a Climate Strategy for Real Estate | ULI Knowledge Finder
5. The importance of partnership
We simply can’t do this alone. Each of us in our respective disciplines and professional circles need to leverage our strengths and collaborate with others.
Every single session at the Resilience Summit touched on this need for partnership. Whether partnerships between philanthropic, public, and private entities, or between developers, local governments, and community members, these collaborations have the potential to create jobs, accelerate investment, and catalyze the transformation of spaces and places.
There is always room for new partnerships. For example, ULI's Water Wise initiative includes a coalition on drought resilient development that brings together the public and private sector.
Applying Lessons Learned from ULI San Diego / Tijuana + McCullough