Cushman & Wakefield's report, 'Climate Risk—Global Cities Outlook', analyzes climate-related hazards and mitigation strategies for 100 global cities.

Climate change poses significant threats to the commercial real estate sector, including increased insurance premiums, productivity loss, and future impacts on asset values.

Real estate owners and investors are advised to conduct thorough risk assessments, understand government mitigation measures, identify high-risk assets, and implement operational and capital upgrades.

Flood management measures, such as dams and sea walls, can help mitigate risks, but cities with infrequent flooding events may lack adequate protections.

More cities, particularly in Southern Europe and the Asia Pacific region, are expected to face heightened risks of drought and wildfires.

Recent storms, such as Typhoon Krathon in Taiwan and Tropical Storm Helene in the southeastern United States, illustrate the escalating risks associated with climate change.

Cities located near major waterways or coastal areas are particularly vulnerable to flooding, but even inland cities like Asheville, NC can suffer from unexpected storms.

Flood risk is projected to increase for nearly all cities, especially those that were previously unaffected but are now exposed to new threats.

The report highlights that the geographic distribution of climate hazard exposure varies significantly, especially concerning flooding.

The categorization of climate risks indicates that while cities with low cold exposure will not see much change, all cities will experience increased heat.

Despite the alarming risks posed by climate change, many cities have implemented various mitigation and adaptation strategies to address these hazards.