Reit Magazine - March/April 2021 - 23

In the future, Tidwell says, " I think we're going
to want to focus more on indirect risks and understanding what those are. " Those indirect risks, such
as rising insurance costs and demographic changes,
" are not necessarily called out when you think about
climate risk, but they are significant, and they could
become more significant as time goes on, " she adds.

QUANTIFYING RISK

The data and analytics tools REITs are using to evaluate asset and portfolio level risk are also becoming
more sophisticated, enabling REITs to better quantify climate-related risk exposure.
" Obviously, we have a sense of which assets, based
on their physical location, are more prone to risks
such as sea level rise. The key to understanding the
relative risk to each asset is climate change scenario
modeling that is grounded in science, " says Will
Teichman, vice president, business operations at
Kimco Realty Corp. (NYSE: KIM).

" I think we're going to want
to focus more on indirect
risks and understanding
what those are. "
-Kay Tidwell, executive vice president, general counsel,
and chief risk officer, Hudson Pacific Properties, Inc.

Nareit: Real estate working for you |

23



Reit Magazine - March/April 2021

Table of Contents for the Digital Edition of Reit Magazine - March/April 2021

Contents
Reit Magazine - March/April 2021 - Cover1
Reit Magazine - March/April 2021 - Contents
Reit Magazine - March/April 2021 - 1
Reit Magazine - March/April 2021 - 2
Reit Magazine - March/April 2021 - 3
Reit Magazine - March/April 2021 - 4
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