First Street

New Congressional Budget Office Report featuring First Street's property-specific flood data: https://lnkd.in/gGMpQNEX 🔍 The report found that each $1 spent on flood mitigation yields an average of $2.69 in damage avoided. Read the full report to see how the report found policymakers can balance priorities such as the number of housing units adapted, damage prevented, and fair distribution across different community income levels.

Upcoming Webinar 📅 The Financial Impact of Shifting Hurricanes Patterns in our Changing Climate Register ➡ https://lnkd.in/g-52_D5q Rising climate risks, such as hurricanes along the Gulf and Atlantic Coasts, are putting immense pressure on insurance companies to cover escalating costs. This leaves homeowners and businesses in a precarious situation, teetering on the edge of crisis. Join First Street’s upcoming webinar to hear from a distinguished panel of experts on hurricane and climate implications. Join to learn: - How hurricane patterns have changed over the years and what factors contribute to this change - How to effectively forecast and model future hurricane behaviors and impacts - How increasing climate risk impacts homeowners, local economies, and has national financial implications - The steps regulators and other entities are taking to assess climate risk All registrants will be sent a recording of the webinar.

The Federal Reserve bank of Kansas City utilized First Street data in their latest research paper: "Flood Risk Exposures and Mortgage-Backed Security Asset Performance and Risk Sharing." The article analyzes: - How flood risks impact individual mortgage performance and underwriting - How flood risks correlate with MBS performance and structure It's great to see our data used in such impactful projects! Interested in the details of their findings? Full article linked below.

Excited to partner with DPC DATA Inc.! This partnership embodies why First Street was founded, to contribute to a future where investment choices are both environmentally and economically prudent.

Don't miss our Wednesday webinar! Join us for a panel discussion on Climate Disclosure Regulation. Our expert panelists will breakdown the strategic, "no regrets" actions companies can take now to prepare for upcoming regulations. Sign up ⬇

Did you miss our webinar today? Check out the recording to learn from First Street’s Chief Science Officer, Dr. Edward Kearns, as he explains how we created our climate-driven flood risk model and how it provides the most accurate view of flood risk. ▶ How our compound, physics-based Flood Model (FS-FM) accurately measures flood risk. ▶ How we have implemented our Flood Model (FS-FM) Model and the key data inputs we used. ▶ Understanding how our model delivers accurate flood risk and damage estimates for every property in the US, now and 30 years into the future.

Key Insights from the Fed's Climate Scenario Analysis Report The Federal Reserve asked the top 6 banks in the US (Bank of America Corporation; Citigroup Inc.; The Goldman Sachs Group, Inc; JPMorgan Chase & Co.; Morgan Stanley; and Wells Fargo Company) to participate in a climate scenario analysis exercise to learn about their climate risk-management practices and challenges and to enhance their ability to identify, estimate, monitor, and manage climate-related financial risks. The participating banks used data from both internal and external sources, including First Street data, to respond. Read our guide for key takeaways from the Fed's report and learn how First Street models enable our partners to report on physical climate risk with confidence.

Just released: Federal Reserve Board summary of the exploratory pilot Climate Scenario Analysis (CSA) exercise that it conducted with six of the nation’s largest banks. It's incredible to see our customers leveraging our climate risk data for such significant initiatives. Full detailed analysis of the implications and our perspective on the program to come shortly. Read press release from the Federal Reserve ⬇

M&T Bank has released their 2023 Sustainability Report, utilizing First Street data to evaluate their exposure to physical climate risks. It's incredible to continue to expand our partnerships in the banking sector, enabling these institutions to make informed decisions that not only benefit their operations but also the planet. 🌱

Our Founder and CEO, Matthew Eby, made an appearance on CBS News this morning to share valuable insights on the dramatic impact climate change is having on the homeowner insurance landscape. As the risk of wildfires in California and hurricanes in Florida escalates and major providers withdraw from these states, hundreds of thousands of homeowners are finding themselves without home insurance coverage. Watch segment to learn more ⬇