“NEW YORK – A climate research organization will offer access to a risk model that predicts the probability of flooding for homes across the United States, giving the public a look at the data institutional investors use to gauge risk.
First Street Foundation on Tuesday launched Flood Lab, a research partnership which provides eight universities with its model that maps previous instances of flooding as well as future risks. Using the dataset, Wharton, MIT and John Hopkins University among others will quantify the impacts of flooding on the U.S. economy.
The move could put pressure on prices of homes, municipal bonds and mortgage-backed securities linked to real estate in risk-prone areas, according to Matthew Eby, executive director of research organization First Street Foundation, and other Flood Lab participants.”
Kate Duguid reports for Reuters January 14, 2020.
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