A Methodological Proposal for Determining Environmental Risk Within Territorial Transformation Processes
In recent decades, the intensification of extreme events, such as floods, earthquakes, and hydrogeological instability, together with the spread of pollutants harmful to health, has highlighted the vulnerability of territories and the need to direct urban policies towards sustainable strategies. The...
Saved in:
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2025-06-01
|
| Series: | Real Estate |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2813-8090/2/2/5 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1839652844246925312 |
|---|---|
| author | Marco Locurcio Felicia Di Liddo Pierluigi Morano Francesco Tajani Laura Tatulli |
| author_facet | Marco Locurcio Felicia Di Liddo Pierluigi Morano Francesco Tajani Laura Tatulli |
| author_sort | Marco Locurcio |
| collection | DOAJ |
| description | In recent decades, the intensification of extreme events, such as floods, earthquakes, and hydrogeological instability, together with the spread of pollutants harmful to health, has highlighted the vulnerability of territories and the need to direct urban policies towards sustainable strategies. The built assets and the real estate sector play a key role in this context; indeed, being among the first ones to be exposed to the effects of climate change, they serve as a crucial tool for the implementation of governance strategies that are more focused on environmental issues. However, the insufficient allocation of public resources to interventions to secure the territory has made it essential to involve private capital interested in combining the legitimate needs of performance with the “ethicality” of the investment. In light of the outlined framework, real estate managers are called upon to take into consideration the environmental risks associated with real estate investments and accurately represent them to investors, especially in the fundraising phase. The tools currently used for the analysis of such risks are based on their perception measured by the “risk premium” criterion, reconstructed on the basis of previous trends and the analyst’s expertise. The poor ability to justify the nature of the risk premium and the uncertainty about future scenario evolutions make this approach increasingly less valid. The present work, starting from the aspects of randomness of the risk premium criterion, aims at its evolution through the inclusion of environmental risk components (seismic, hydrogeological, and pollution). |
| format | Article |
| id | doaj-art-98d97b69b6234c04b61d1aa2c6f9bc7d |
| institution | Matheson Library |
| issn | 2813-8090 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Real Estate |
| spelling | doaj-art-98d97b69b6234c04b61d1aa2c6f9bc7d2025-06-25T14:22:24ZengMDPI AGReal Estate2813-80902025-06-0122510.3390/realestate2020005A Methodological Proposal for Determining Environmental Risk Within Territorial Transformation ProcessesMarco Locurcio0Felicia Di Liddo1Pierluigi Morano2Francesco Tajani3Laura Tatulli4Department of Civil, Environmental, Land, Construction and Chemistry Engineering, Polytechnic University of Bari, Via Orabona 4, 70125 Bari, ItalyDepartment of Civil, Environmental, Land, Construction and Chemistry Engineering, Polytechnic University of Bari, Via Orabona 4, 70125 Bari, ItalyDepartment of Civil, Environmental, Land, Construction and Chemistry Engineering, Polytechnic University of Bari, Via Orabona 4, 70125 Bari, ItalyDepartment of Architecture and Design, Sapienza University of Rome, Via Flaminia 359, 00196 Rome, ItalyDepartment of Civil, Environmental, Land, Construction and Chemistry Engineering, Polytechnic University of Bari, Via Orabona 4, 70125 Bari, ItalyIn recent decades, the intensification of extreme events, such as floods, earthquakes, and hydrogeological instability, together with the spread of pollutants harmful to health, has highlighted the vulnerability of territories and the need to direct urban policies towards sustainable strategies. The built assets and the real estate sector play a key role in this context; indeed, being among the first ones to be exposed to the effects of climate change, they serve as a crucial tool for the implementation of governance strategies that are more focused on environmental issues. However, the insufficient allocation of public resources to interventions to secure the territory has made it essential to involve private capital interested in combining the legitimate needs of performance with the “ethicality” of the investment. In light of the outlined framework, real estate managers are called upon to take into consideration the environmental risks associated with real estate investments and accurately represent them to investors, especially in the fundraising phase. The tools currently used for the analysis of such risks are based on their perception measured by the “risk premium” criterion, reconstructed on the basis of previous trends and the analyst’s expertise. The poor ability to justify the nature of the risk premium and the uncertainty about future scenario evolutions make this approach increasingly less valid. The present work, starting from the aspects of randomness of the risk premium criterion, aims at its evolution through the inclusion of environmental risk components (seismic, hydrogeological, and pollution).https://www.mdpi.com/2813-8090/2/2/5riskreal estateenvironmentenvironmental riskseismic riskhydrogeological risk |
| spellingShingle | Marco Locurcio Felicia Di Liddo Pierluigi Morano Francesco Tajani Laura Tatulli A Methodological Proposal for Determining Environmental Risk Within Territorial Transformation Processes Real Estate risk real estate environment environmental risk seismic risk hydrogeological risk |
| title | A Methodological Proposal for Determining Environmental Risk Within Territorial Transformation Processes |
| title_full | A Methodological Proposal for Determining Environmental Risk Within Territorial Transformation Processes |
| title_fullStr | A Methodological Proposal for Determining Environmental Risk Within Territorial Transformation Processes |
| title_full_unstemmed | A Methodological Proposal for Determining Environmental Risk Within Territorial Transformation Processes |
| title_short | A Methodological Proposal for Determining Environmental Risk Within Territorial Transformation Processes |
| title_sort | methodological proposal for determining environmental risk within territorial transformation processes |
| topic | risk real estate environment environmental risk seismic risk hydrogeological risk |
| url | https://www.mdpi.com/2813-8090/2/2/5 |
| work_keys_str_mv | AT marcolocurcio amethodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses AT feliciadiliddo amethodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses AT pierluigimorano amethodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses AT francescotajani amethodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses AT lauratatulli amethodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses AT marcolocurcio methodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses AT feliciadiliddo methodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses AT pierluigimorano methodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses AT francescotajani methodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses AT lauratatulli methodologicalproposalfordeterminingenvironmentalriskwithinterritorialtransformationprocesses |