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The year 2019 was unquestionably notable, with America tallying 14 weather disasters that cost $1 billion or more 4 Additionally, Australia noted the warmest and driest year on record , and the World Economic Forum\'s annual long-term risk survey showed environmental and climate change factors represented all five of the top risks for the first time ever 5,6 Accelerating frequency of weather-related events has increased property insurance rates, which is further supporting people\'s acceptance of the importance of climate change The numbers are going up because catastrophic losses are becoming more frequent and more intense, and because properties themselves are increasing in value 7 TREPP released research that shows green buildings carry 34% less default risk due to a more favorable loan-to-value ratio, where risk is lowered by a green price premium, furthering the business case for ESG 8 INNOVATION IN MEASURING AND TRACKING ESG Greater transparency and stakeholder engagement provide the foundation of any ESG initiative, most notably demonstrated through the collection and reporting on ESG data Global investment in clean energy infrastructure has risen in recent years, as a study by REBA shows 79 large-scale renewable energy deals in 2019 14 A total of $240 billion was invested in energy efficiency across the buildings, transport, and industry sectors in 2019 15 Grid investment in the United States increased by 8% as regulators continue to emphasize grid resilience and reliability Since 2010, sprawling suburban districts around the country\'s major cities have added no new development, and some even lost occupancy 20 EXPANDING INFLUENCE OF MILLENNIAL INVESTORS The popularity of ESG is further enhanced by the generational transfer of wealth to millennials, who have shown much greater concern about climate change and social issues than their parents
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