Research and technology nonprofit First Street Foundation released Risk Factor Pro to all users, offering American consumers in-depth climate risk analysis and data normally accessible only to large institutional investors and mortgage providers.
The data available exclusively through Risk Factor Pro includes damage cost estimates, enhanced analysis of the consequences of flood, extreme heat, and wildfire to a building, visual graphics, and interactive maps. The tool also goes beyond exposure data by allowing users to customize building characteristics, ensuring an accurate, property specific and highly granular climate risk assessment; a feature developed alongside global built environment consulting firm Arup.
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“This level of data and analysis can cost corporations tens of thousands of dollars to access, but once they have it, they can leverage it in ways your average American can’t,” said Matthew Eby, CEO of First Street Foundation. “By offering these insights for free to every American homeowner, Risk Factor Pro removes the asymmetry of knowledge that exists between the most powerful institutional investors and homeowners and shoppers, leveling the playing field, and ensuring every American has the information they need to protect themselves and their homes.”
“As climate change increases the frequency and intensity of extreme weather events, we need accessible data to better prepare our communities for a changing world,” said Ibbi Almufti, Associate Principal at Arup. “Risk Factor Pro provides homeowners and homebuyers with unique insights into their property risks, equipping them to make informed decisions that can mitigate negative impacts of climate change and boost resilience.”
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Risk Factor Pro leverages the Foundation’s unique, peer reviewed, property specific, climate adjusted modeling capabilities to provide in-depth analysis of a property’s risk from flood, heat, wildfire, and future perils, including details about potential damages and other consequences associated with climate risk. It provides the same data and tools used by large companies and investors like Nuveen, Morningstar, Banks of America, Fannie Mae, and over 30 federal agencies, to every residential property owner and renter in the country.
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