New focus for impacts: Most climate change risk to date has focused on financial implications. This report, however, focuses on physical risk to buildings and infrastructure, essential components of any city and most businesses.
Geographic precision for risk estimation: Physical risks have historically been hard to measure, but "advances in econometric research, data processing, and scalable cloud computing make a rigorous, evidence-based, asset-level accounting of physical climate risk possible." So we're not talk about physical risks for, say, the Southeast region of the US. Now, analysis can get much more granular.
Rigorous scientific foundation: Their scenarios analysis builds on 21 global climate models and peer-reviewed science to analyze future risks.
Syncing with TCFD (got FOMO, yet?): Their research aligns with the Task Force on Climate-Related Financial Disclosures, perhaps the leading authority on how to report to investors on the financial risks of climate change.
New business opportunities: With validation from the investment community via BlackRock, more companies will be paying attention to the climate change-related physical risks to their assets -- real estate, bridges, highways, water treatment, power production, and more.
And if you need more proof that investors care about the risks and opportunities in climate change, check these out:
Global Investor Statement to Governments on Climate Change - aka, The Investor Agenda(link)
475+ investors representing well over USD $34 trillion in assets. Globally focused.
United Nations Principles for Responsible Investment - (link)
1,750+ investor signatories from over 50 countries representing approximately USD $70 trillion in assets. Globally focused.
IIGCC – The Institutional Investors Group on Climate Change (link)
190+ investor members with €28 trillion in assets. EU focused.