Due Diligence PropTech Leader, RiskFootprint™, to Include FEMA NRI Hazards, Community Resilience Scores, and EPA Air Quality Index in its new SaaS Hazard Assessments
BOCA RATON, Fla., April 17, 2023 /PRNewswire/ -- RiskFootprint™, the US leader in due diligence PropTech, announced today that it has included the new, FEMA National Risk Index (NRI) hazard scores for eighteen natural hazards (Version 1.19) in its state-of-the-art hazard and climate impact reports (www.riskfootprint.com). Additionally, in order to assist clients with critical, due diligence decisions, RiskFootprint™ is including FEMA's innovative, Community Resilience Scores and the US Environmental Protection Agency's (EPA) Air Quality Index (AQI) scores for every county, averaged over the past 10-years.
According to Albert Slap, President: "RiskFootprint™ Version 14 is the first and only SaaS hazard and climate assessment to include all 18 NRI hazards, Community Resilience and EPA air pollution scores. The inclusion these new risk metrics, which include droughts, heat waves, winter weather, and landslides, etc., makes RiskFootprint™ the most comprehensive and in-depth risk assessment available on the market, today."
Slap also emphasized: "Identifying current and future physical risks to a company's assets is only a first step in the resilience assessment process. Here at RiskFootprint™, we don't stop at identifying current hazards and future climate impacts. We also provide building-specific, vulnerability and value-at-risk assessments and recommend feasible mitigation measures using the latest technologies and, where needed, on-site inspections and evaluations . Other than RiskFootprint™, few, if any, climate data vendors offer 'boots on the ground' to help clients make buildings safer and more resilient. That capability is a big differentiator for us."
Why is this important to Commercial Real Estate Due Diligence?
Dr. Leonard Berry, RiskFootprint's Chief Science Advisor, added: "RiskFootprint™ is a near instantaneous, flood, natural hazard and climate risk assessment that has been curated by leading scientists and experts, including a Nobel Prize recipient. By adding NRI hazards, Community Resilience, and air pollution scores, we provide C-Suite executives the actionable information that they need to justify critical buy/sell, insure, and protect decisions."
FEMA developed the National Risk Index to provide a relative measurement of community-level natural hazard risks in the US. The Index leverages authoritative, nationwide datasets for 18 hazard types and combines this metric with Social Vulnerability and Community Resilience scores to generate Risk Index scores for every Census tract and county.
EPA's monitoring stations around the USA measure the pollutants in the local area daily and calculate the Air Quality Index (AQI). The following major air pollutants are measured and included in the AQI: ground-level ozone, particle pollution (PM2.5 and PM10), carbon monoxide, nitrogen dioxide, and sulfur dioxide
With RiskFootprint's property-specific, flood, natural hazard and climate impact scores and quantitative maps and data, commercial real estate due diligence professionals, asset and risk managers, and other stakeholders can better determine risks to their investments, appropriate market values, and whether current or future capital expenditures may be needed to mitigate risks to their properties, buildings as well as the tenants, employees, etc. The NRI Community Resilience Score is also an important "first-look", screening tool in evaluating overall resilience of the communities in which assets are located. This is an important, but under-utilized factor in determining whether the location of the asset is a good place in which to maintain or invest capital, now, and in the future.
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