2023 Winter Issue - 23

tially improving both financial and
climate-risk outcomes.
As part of these efforts, ULI collaborated
with First Street Foundation,
a research and technology
nonprofit with expertise in assessing
physical climate risk at the
property level in the United States.
First Street Foundation's free Risk
Factor platform for noncommercial
properties has been widely
adopted by the real estate industry
and the federal government primarily
because of its high-resolution,
peer-reviewed, and transparent
methodologies.
Through a series of focus
groups, ULI members contributed
to the development of First Street
Foundation's latest climate-risk
analysis tool for commercial real
estate, Risk Factor Pro. Consequently,
First Street Foundation is
offering steep discounts on Risk
Factor Pro for ULI members.
ULI Members Inform the
Development of Risk Factor Pro
Risk Factor Pro was informed by
numerous in-depth interviews with
ULI members who are actively
working to assess and address climate
risk. In return, ULI members
gained exclusive access to the
tool, which became publicly available
for all commercial and private
users on November 7.
ULI members also have access
to significant Risk Factor Pro discounts.
Five free reports (a $500
value) will be given to all ULI members,
and 50 percent-off company
subscriptions will be provided
to ULI Greenprint members. ULI
Greenprint members will receive
the climate-risk enterprise tools for
up to $100,000 off the list price-
the biggest discount First Street
Foundation will offer.
Thanks in part to ULI member
insights, Risk Factor Pro delivers a
level of detailed analysis and data
on the physical impact of climate
never before available from First
Street. This includes analysis of
the impact of flood, wildfire, and
extreme heat, along with estimates
of potential damage and rebuilding
costs, building emissions, graphics
at varying levels of geography,
interactive maps, and more. Risk
Factor Pro goes beyond exposure
data and allows users to customize
building characteristics, ensuring a
property-specific and highly granular
climate-risk assessment.
" Risk Factor Pro brings together
the leading science, the best
engineering, and an unbeatable
user interface to empower industry
professionals with the data they
need to truly understand and
address the impact of climate
to their portfolio, " said Matthew
Eby, chief executive officer of First
Street Foundation. " With members
managing well over $1 trillion in
real estate assets, ULI was the
ideal institution to help inform the
development of Risk Factor Pro to
create something truly valuable
and unique. "
" Climate risk will shape the
future of real estate, " said Billy
Grayson, executive vice president
of centers and initiatives for ULI.
" We believe connecting ULI members
with climate-risk software
developers benefits the real estate
industry, and we were excited to
inform Risk Factor Pro. "
As climate risk continues to
heighten, the Institute's Urban
Resilience program and the Randall
Lewis Center for Sustainability in
Real Estate will continue to develop
resources in collaboration with ULI
members and partners that better
prepare buildings, communities,
and industry for the impacts of climate
change.
MARIANNE EPPIG is a director of resilience for
ULI's Urban Resilience program.
ULI members informed the development of First Street
Foundation's climate-risk analysis tool for commercial real
estate, Risk Factor Pro.
Women's Leadership
Initiative Builds on
10-Year Milestone
The initiative offers a classic
example of how a simple
idea can lead to big change.
In 2022, the ULI Women's Leadership
Initiative (WLI) marked its 10th
anniversary with a year of celebrations
that culminated at the ULI Fall
Meeting in Dallas in October. The
advances that women have made
both within the Institute and the
broader real estate industry over
the past decade are well worth celebrating.
These days, it is rare for
a woman to walk into an event or
a meeting and find that she is the
only female in the room. Instead,
women have a growing presence
at all levels of ULI and are increasingly
landing leadership roles
across the industry.
Over the past decade, the Institute's
female membership has
more than doubled from 5,700
to 13,000, with women now representing
almost 30 percent of
total membership. Strides in the
number of female members on
product councils also are impressive,
with the number almost
tripling from 308 to 890, including
139 who now serve as product
council leaders. The number of
women acting as global governing
trustees also has doubled to 44.
" I am really honored to be the
chair of WLI. I have been a part of
this group for nearly its entire 10
years, and the amount of impact
that having this network of women,
for me professionally, has been
significant, " says Ellen Klasson,
WLI chair and managing director
at RCLCO. Like many of her
peers, Klasson has leaned on WLI
relationships at times when she
needed advice, inspiration, or even
a push in the right direction.
As part of its broader commitment
to promote diversity, equity,
and inclusion, ULI has embraced
the view that it is important for
women to see other women in
leadership roles. The number of
female speakers at the Fall Meeting
has not only doubled, but women
were featured on almost every
panel-including the opening
general session with Kathleen
McCarthy, Blackstone's global cohead
of real estate.
WLI programs such as Prologis
Scholars and Innovation Grants
have been instrumental in driving
transformative change, and WLI
hosted a 10th anniversary luncheon
at the Fall Meeting for both
current and past Prologis Scholars
award recipients. Such programs
help raise the visibility of outstanding
women in the industry and provide
an important stepping stone
in professional development.
" What was really special to me
is how I was able to get more
WINTER 2023
URBAN LAND
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COURTESY OF FIRST STREET FOUNDATION
2023 Winter Issue

Table of Contents for the Digital Edition of 2023 Winter Issue
