A British real estate manager overseeing €26 billion ($29.93 billion) in assets with concerns about flood, fire and other climate-related risks to its properties sought help from Climate X, a data analytics firm based in London.
Climate X started crunching numbers and using its artificial intelligence risk modeling tool, informed partly by U.S. scientific data, to help Savills Investment Management estimate possible damages to 300 of its assets in Europe and Asia if weather disruptions hit.
Savills said the information helps with investment decisions and it may now use Climate X analytics to assess hundreds more properties.
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