Conklin, New York, October 18, 2023 – ADEC Innovations, a global leader in environmental, social, and governance (ESG) solutions, is pleased to announce the expansion of its trusted property risk assessment tool, “RiskFacts,” into the comprehensive property risk platform “ADEC SiteRisk.” This evolution comes in response to the changing landscape of the commercial real estate industry, warranting a more robust property risk assessment and management program amongst industry players.
The commercial real estate industry has been experiencing remarkable activity and changes – from shifting workplace expectations and practices, rising interest rates, increasing climate change impacts and other environmental risks, etc. All these emphasize the essential need for reliable risk assessment tools.
Regulatory changes proposed by the U.S. Environmental Protection Agency (EPA) further underscore the critical importance of better risk assessment and management in the industry. A recent study published in the journal Nature Climate Change indicated that the U.S. real estate market may be overvalued due to unrealized environmental risks, likewise highlighting the significance of comprehensive property risk assessment.
ADEC SiteRisk represents a significant enhancement in the field of property risk management. The platform offers a comprehensive suite of solutions, to efficiently respond to the growing industry challenges and its ever-evolving landscape. ADEC SiteRisk solutions include the following:
- Risk Reporting Capabilities: ADEC SiteRisk offers specific services for environmental property risk assessment, including Phase I Environmental Site Assessments (ESA), Records Search and Risk Assessment (RSRA), Environmental Professional (EP) Opinions, and Property Risk Reports.
- Environmental Database Expansion: Users can now evaluate properties against government environmental databases, accessing millions of records from over 2,000 databases.
- Portfolio Monitoring: ADEC SiteRisk empowers clients to monitor their current property portfolio holdings and evaluate critical changes in database findings.
- Customizable Views: Building on RiskFacts’ features, users can continue to tailor the information they receive about a subject property.
- Property Risk Reports: ADEC SiteRisk’s Property Risk Reports provide an essential evaluation of a site and help determine what further assessments or mitigation strategies are needed to create sustainable, resilient solutions to property environmental threats.
The ADEC SiteRisk platform features a user-friendly interface, enabling clients to easily identify potential environmental risks surrounding their property(s). Users can gain a comprehensive understanding of surrounding zones influencing a property, such as brownfields areas, superfund sites, federal wetlands, FEMA 100-Year flood plains, and pipelines. Additionally, users benefit from robust environmental expert opinions to determine further assessments needed or to create effective mitigation strategies.
“We are excited to introduce ADEC SiteRisk as the evolution of RiskFacts,” said James M. Donovan, CEO of ADEC Innovations. ” Commercial real estate landscape is characterized by adaptability, sustainability, and technological integration. Leveraging these trends, ADEC Innovations, through ADEC SiteRisk, provides stakeholders appropriate risk assessment tools tailored to their needs, empowering them to make informed decisions and efficient strategies, which ensure long-term success in this ever-evolving industry.”
ADEC SiteRisk’s offering is relevant to a wide range of stakeholders, including municipalities, real estate brokers and owners, Real Estate Investment Trusts (REITs), banks, non-bank lenders, and insurance companies. The comprehensive platform provides cost-effective solutions tailored to the unique needs of these and other industry professionals.
For further information about ADEC SiteRisk and its offerings, please visit adec-siterisk.com.
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