HIW Corporate Resiliency Report 2021 FINAL - Flipbook - Page 9
CLIMATE/PORTFOLIO RESILIENCY
Climate-related physical and transition risks are
a material concern for all organizations including
ours. Developing and operating resilient buildings is
fundamental to our enterprise risk management strategy
and enables our organization to effectively respond to
climate-related challenges. Through proactive planning
and analysis, we endeavor to manage these risks
throughout the life cycle of our assets.
Our Corporate Risk and Resiliency team and Board
regularly assess the physical risks associated with
climate change, including sea level rise, flood, fire,
loss of water, power outages and wind damage.
We consult with outside climate experts and utilize
industry leading risk modules to assess the potential
financial impacts of these risk factors and inform our
investment strategy. For assets with elevated climaterelated risks, we develop Climate Resiliency Plans
that evaluate short and long-term vulnerabilities and
outline proactive measures to harden those assets
against potential impacts. We are pleased to note that
less than 20% of our portfolio is exposed to potential
climate-related risks such as windstorm damage.
Furthermore, only four of our buildings are potentially
exposed to coastal flooding risk due to rising sea
levels. Our risk mitigation efforts address wind, flood
and other climate risks through our established risk
management and business continuity programs.
The global transition to a low-carbon economy
exposes the real estate industry to transition risks
associated with a variety of evolving influences
including policy, regulation, consumer preferences
and stakeholder desires. Changing climate regulations
aligned with global standards and commitments are
accelerating the transition to low-carbon economy.
We are closely monitoring transition risks across
our organization and will seek to align our approach
with global standards and endeavor to mitigate our
exposure as market forces and risk profiles change.
HIGHWOODS BAY CENTER I, TAMPA
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