“Recognizing the need for sustainability and resiliency due diligence, Emerald Skyline Corporation has developed a Sustainability and Resiliency Assessment (SaRA Rating©) Rating system to provide commercial real estate investors with a complete picture of the risk associated with a particular property or investment.”
BOCA RATON, FL, June 12, 2019
Today, Emerald Skyline introduces its’ Sustainability and Resiliency Assessment (SaRA Rating©) Rating system. The purpose of the SaRA Rating© Report is to provide information on the sustainability and resiliency of a property given its physical and locational attributes. The property-specific, neighborhood and community together with information on natural and man-made hazards are assessed using Emerald Skyline’s Risk Assessment Rating System to enable investors, buyers, lenders, tenants and other stakeholders, including those who have a security interest in the mortgage, a meaningful gauge on the overall sustainability and resiliency of a property.
SaRA Rating© builds on due diligence information on a property to evaluate a property’s sustainability and resiliency which allows owners, managers and tenants to control and help reduce the rapidly increasing costs of utilities and insurance while reducing the carbon footprint and to understand the property’s resiliency in response to man-made and natural hazards and calamities.
According to MunichRe, an international reinsurance firm, 2018 was the fourth-costliest year for natural disasters in recorded history. The damage and destruction cost $160 billion, of which only half was insured. The worst damage came from Hurricanes Michael and Florence and Asian Typhoons Jebi, Signal 10 Mangkhut and Trami. The California wildfires alone cost $57 billion, of which slightly more than half, $29 billion, was insured.
The damage from natural disasters and extreme weather events– including blizzards, droughts, floods, heat waves, hurricanes, lightning strikes, tornadoes, tsunamis, earthquakes, mudslides, volcanoes and wildfires – cost the US economy a staggering $307 billion in 2017 – more than double the inflation adjusted average of $140 billion.
Of significance to these astounding statistics is the frequency with which natural disasters and extreme weather events are occurring: In 2018 there were 29 events that cost at least $1 billion each in damage while there were 16 events costing more than $1 billion each in 2017. The United Nations has found that the number of natural disasters per year has doubled in the last 20 years.
It no longer makes sense to wait until after a crisis to implement resilience efforts. Resiliency strategies for buildings should be identified and implemented now, so there is a greater chance of improved performance and reduced risk to both people and property, not only today but for the future, benefiting all building stakeholders.
Buildings and businesses do not operate in a vacuum. The evaluation of the sustainability and resiliency of a building is significantly influenced by the neighborhood and community in which it is located. For instance, a building may have hardened exterior skin, wind impact windows and design and equipment protected from flood or wind intrusion, but if the community is nor resilient, the building and its tenants may not be able to recover quickly after a storm. Accordingly, the SaRA Rating© assessment, evaluates both the physical attributes of the subject property and the resiliency of the community in which it is located.
The damage from natural disasters and extreme weather events– including blizzards, droughts, floods, heat waves, hurricanes, lightning strikes, tornadoes, tsunamis, earthquakes, mudslides, volcanoes and wildfires – cost the US economy a staggering $307 billion in 2017 – more than double the inflation adjusted average of $140 billion.
Of significance to these astounding statistics is the frequency with which natural disasters and extreme weather events are occurring: In 2018 there were 29 events that cost at least $1 billion each in damage while there were 16 events costing more than $1 billion each in 2017. The United Nations has found that the number of natural disasters per year has doubled in the last 20 years.
It no longer makes sense to wait until after a crisis to implement resilience efforts. Resiliency strategies for buildings should be identified and implemented now, so there is a greater chance of improved performance and reduced risk to both people and property, not only today but for the future, benefiting all building stakeholders.
Buildings and businesses do not operate in a vacuum. The evaluation of the sustainability and resiliency of a building is significantly influenced by the neighborhood and community in which it is located. For instance, a building may have hardened exterior skin, wind impact windows and design and equipment protected from flood or wind intrusion, but if the community is nor resilient, the building and its tenants may not be able to recover quickly after a storm. Accordingly, the SaRA Rating© assessment, evaluates both the physical attributes of the subject property and the resiliency of the community in which it is located.
According to Paul Jones, a principal of Emerald Skyline, “armed with the SaRA Rating© and report, the stakeholders can incorporate current and prospective tenant/user demand for the space in the building given the cost of occupancy and resiliency as well as investor demand and potential pricing for the asset. A resilient and sustainable asset will combine low-cost operations due to sustainably-reduced energy and maintenance costs and managed insurance expenses while maximizing the net cash flow and long-term value of the property.”
Emerald Skyline Corporation is a sustainability and resiliency consulting and LEED project management firm formed in 2012 by veteran real estate professionals to facilitate the sustainability and resiliency of the built environment by advising and assisting building owners, managers, tenants and other stakeholders in the evaluation, selection and implementation of sustainable and resilient strategies and practices.
To find out more information about Emerald Skyline’s Sustainability and Resiliency Assessment Rating system, please contact Paul Jones at [email protected] or call him at 786-468-9414