Property database ATTOM will start incorporating climate change in its ratings at the property level for five hazards—wildfire, flood, heat, storm and drought. It is one of a growing number of analytics providers that are adding climate change into their calculations. Moody's REIS, for instance, announced last month it was making climate risk scores available on its analytics platform.
ATTOM will be assessing each property with a 0-100 rating for the five hazards, with projections going as far out as 2050—a period within the lifespan of a 30-year mortgage signed today. ATTOM's climate change risk data will be updated quarterly.
"Understanding current and future climate change risk has become a very important data point for many of our customers in real estate, mortgage and insurance industries," says Sean Mooney, vice president of product at ATTOM.
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