Needell: In addition to the prior answer, even an index will depend on every REIT actively selling and moving away from climate change risks.

GlobeSt.com: How should investors actively evaluate properties for climate risk that goes beyond their locations?

Needell: Really that depends on trying to understand second-hand repercussions to first-line risk. Your location risk is in the dirt, and for many, it's the most important risk to underwrite. However, how will Orlando for example be affected by rising sea levels in Miami? We think it will see an influx in population growth, and while usually that is good, sometimes a change in migration and living patterns can hurt a location. It is not typically or in any way a knowable outcome. However, you can prudently keep aware of the change and react in a location that is of derivative concern.

GlobeSt.com: What is the underappreciated value of shifting energy production away from power companies to combat climate change and improve long-term returns?

Needell: In this high-tech world, consumer renter apps like apartments.com could start to estimate occupancy cost for tenants and therefore cheaper distributed power in many locations like California could give properties a competitive advantage and of course move our power grid to clean green tech solar. This could also lead to more returns on efficiency upgrades by landlords.

GlobeSt.com: What investment issues does Houston face in combating climate change?

Needell: Certainly it would not be all of Houston. Even the Harvey storm was not destructive to all properties. Like other parts of the nation, it has some areas that are impacted by climate change and others that are not, or that may even benefit from that change. So the issues it faces are not special like Miami and south Florida or New Orleans.