Recently, Regency’s proactive climate risk management initiatives were featured in a case study by Nareit, the worldwide voice for REITs and listed real estate companies with an interest in U.S. real estate and capital markets. As part of the 2021 REIT Industry ESG Report — an annual report detailing the industry's environmental, social, and governance (ESG) performance details — these case studies serve as tools for stakeholders to assess the scale and impact of various ESG initiatives.
As noted in the case study, “to build off past risk analyses, further its environmental sustainability efforts, and proactively meet the needs of the communities it serves, Regency conducted a climate-related scenario risk and opportunity analysis over the course of 2020—aligned with recommendations from the Financial Stability Board's (FSB) Task Force on Climate-related Financial Disclosures (TCFD).”
This analysis and risk management initiative was both a top-down and bottom-up approach to the advancement of Regency’s climate change risk management practice. The results of the analysis are being incorporated into its strategic planning to ensure climate resilience continues to play a central role in its proactive strategies.