Climate & Real Estate: A European Perspective

(3 Credit Hours) · Undergraduate

This course examines the critical intersection of climate change and the real estate industry, with a specific focus on European markets. It provides an in-depth understanding of how climate science influences property markets, risk management, and valuation across the continent. Students will begin with an introduction to climate science and explore the role of risk and insurance in property markets, analyzing how climate risks impact investment and development decisions. Key topics include climate risk analysis, property valuation in the context of region-specific climate threats, and adaptation strategies employed by the real estate sector. The course will also delve into regional policies and efforts in these areas. Students will learn about the main environmental indicators used by real estate companies, corporate sustainability reporting, and how to practically assess the portfolio risks. Through case studies and practical analysis, students will leave with the skills needed to assess climate risks, implement sustainability strategies, and navigate the regulatory landscape of European real estate. This course does not assume any prior knowledge of finance. Any student willing to make the effort can be successful in this class. That said, the course will involve mathematical formulas and calculations using Excel, for example, to value properties or to calculate mortgage amortizations. Students may contact Prof .Eugenio Acosta (eacosta2@nd.edu), who will provide access to relevant online modules from Wall Street Prep to support them in developing skills that will be useful in the course.