According to a report from the Urban Land Institute, real estate investors and developers are increasingly considering climate risk factors when deciding where to buy or build. One major component of this analyses is looking at how prepared local governments are to face such climate change events. According to the report, investors are looking beyond the individual assets and assessing a city’s preparedness for climate change, but the models and metrics they need are still in their infancy. The growing concern among real estate professionals is shared by many in the broader investment community as well. In July, nonprofits, pension funds and other investors representing almost $1 trillion in assets sent to a letter to the Federal Reserve asking them to take action on the climate crisis.