PhD Topic/Title: Evaluating Physical Climate Risks to the Financial Sector


There is growing evidence that physical climate hazards such as floods and wildfires, affect property prices. Such hazards appear to be increasing in both frequency and severity, coinciding with increasing exposure of populations to these threats. This is leading to a process of climate gentrification, or area selection, where there is greater demand for properties possessing climate resilient traits (e.g. located at higher elevations).

Changes in property prices due to climate hazards is of concern because it creates risks to homeowners’ financial wellbeing, insurance and mortgage industries, and wider financial systems.

Josh’s PhD aims to develop statistical methods to analyse climate gentrification and develop a forward-looking analysis to understand how the effects of flooding on property prices may change under projected storylines of climate change.