Managing Expectations While Going Green

By Andrea Wells
The Insurance Journal
July 1, 2024
Category: Wood, Paper & Green Building
Region: United States

The threat of increasing climate risks has energized the transition to a low-carbon economy. However this transition comes with its own set of risks and challenges. …These are evident in insurance perspectives on two of the most popular green industries: green building and the use of new materials like mass timber, and solar energy. They also are playing out in how insurers and agents view writing green business risks. …In April, USGBC jumped into resilient building by announcing its draft rating system, LEED v5. Centered around three areas, LEED v5 will seek to advance improvements in decarbonization, quality of life, and/or ecological conservation and restoration. One example, McBride and Zurich NA are bullish on is the use of mass timber for constructing larger buildings. …The growing interest in mass timber projects led to an update to the International Building Code in 2021. Now towers can be built as high has 25 floors.

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