Miami flood Photo: eskystudio/Adobe Stock

Climate change poses many problems for society as a whole, and for commercial real estate (CRE). Properties can face flooding or wildfires or heavy damage from winds. A building can be cut off from everything else. All the time while increasingly cut off new business lines in states that have been particularly hard hit by disasters.

At a time when insurance can’t be counted on as the rescue of last resort, lenders must consider the risk they could take on. The Federal Reserve Bank of New York emphasized this point in a recent blog post.

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