WHILE MANY PEOPLE RESISTED TAKING individual, business and public policy steps to mitigate climate change, those same people are realizing or accepting the realities of extreme weather. Farmers have always had to fight Mother Nature with livelihoods at her mercy. People who live in earthquake, hurricane, and tornado zones accept the probability of disastrous events. But people who live in what used to be predictable climates are experiencing more severe and more frequent weather events, such as flash floods, severe droughts, or blizzards.

While there is now much concern around extreme weather and the impact on critical infrastructure and business, there are few tools to effectively and efficiently monitor real-time weather and specific assets.

Former Secretaries of the Treasury, Hank Paulson and Robert Rubin want the Securities and Exchange Commission (SEC) to get more aggressive with public companies when it comes to disclosing risks relative to climate change.

The Risky Business Project led by Paulson, former New York City Mayor Michael Bloomberg, and billionaire former hedge-fund chief Tom Steyer released a report called Risky Business: The Economic Risks of Climate Change to the United States, which they cite as the basis for mandatory corporate disclosure. While the report describes various regions and industries within those regions that are at risk due to climate change, the report does not offer solutions on how to effectively monitor those assets they request be disclosed.

The next two features discuss how commercial and residential property managers monitor weather events and how one company has developed the first fully integrated location-based asset management solution that provides real-time weather alerts for specific assets. Extreme weather creates risk for all businesses, especially those with large portfolios of physical assets such as factories, warehouses, data centers, research facilities and more. But that risk can now be effectively managed.