The city of Berlin at the forefront of climate resilience

Much attention is paid to global cities most at risk from climate change, but what do we know about the cities that are leading the way in climate resilience? Savills, a London-based real estate and investment firm, says there is a lot of optimism for places like Berlin, which ranked first among the wealthiest and largest cities working towards a successful climate transition.

Berlin topped the new Climate Resilient Cities Index along with Paris, Madrid and Toronto. Berlin’s geography limits its risk to many climate impacts, but it also has one of the highest proportions of eco-certified buildings. A total of 23 cities, from Cairo to Dubai and Miami to Sydney, were assessed for the climate threats they face and the measures they are taking to protect property values ​​in their cities.

While they may still be vulnerable to significant weather risks, their geographic positions, combined with other factors, including municipal authorities with a plan to mitigate risks and higher proportions of ‘green’ real estate, make them the most resilient cities overall.said the report.

Savills based his results on current factors, including the past decade in precipitation and temperature, how high they are above sea level on average, and their access to groundwater resources. Disaster risk for both the present and the future was assessed, including projections of extreme heat, sea level rise, coastal flooding and freshwater availability through 2050.

But despite the real estate mantra, location isn’t everything. Not when it comes to the weather

Cities cannot change their geographic locations, but the company also calculated a city’s real estate resilience based on action: how city authorities, as well as national authorities, plan to manage and limit climate impacts. “It also measures the city’s share of the inventory of eco-certified buildings; important also because of the role that carbon plays in accelerating climate change more broadlysaid the company.

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On a per capita basis, New York, Berlin and Beijing rank highest for green building standards. Toronto, Shanghai, Los Angeles and Madrid were also among the top performers on these standards, which become increasingly important as property investors look to protect assets and promote sustainable practices.

However, even New York and Berlin have a low proportion of green certified buildings, reflecting slow global progress in tackling climate change in general.

Risk of climate stability. climate resilience

In a city where the risk of climate stability is high and real estate resilience is low, this could affect the attractiveness of its markets, as large institutional investors already consider climate risk as part of their ESG (environmental, social and development) strategies. governance). says Robert Godfrey, Director of Strategic Investment Advisory at Savills.

Investors may increasingly seek green and resilient real estate in climate-stable cities, but for now they will compete for relatively few buildings that meet all of these current and future needs.”.

Savills said his research highlights that even in “good” cities, there is still much work to be done to reduce carbon emissions and improve sustainability standards.

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