Hear from Richard Flemmings, founder and CEO of Map Impact, as we explore why "dry perils" such as heat, drought and wildfire are emerging as critical climate risks for real estate and financial decision-making. When climate risks are discussed, the focus often falls on what we might call "wet perils": things like flooding, storms, and coastal erosion. These risks are well studied, widely modelled, and increasingly embedded in financial decision-making. But another category of hazards is emerging: "dry perils" such as heat stress, drought, and wildfire, which are often less visible, hard to quantify, and in many cases still underestimated. Understanding these risks requires looking closely at the landscape itself: how land is used, how heat is retained, and how nature can either amplify or mitigate climate hazards. And when you do that, some unexpected interactions between the built environment and a changing climate start to emerge. That's why this episode explores:

Why dry perils have been underestimated, and why they are becoming increasingly important for financial risk management;
How real-world case studies reveal unanticipated consequences of climate risk and adaptation decisions;
And how nature-based solutions, from urban greening to landscape-scale interventions, can help build resilience across portfolios and communities.

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To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

To see more of our resources on climate and nature risk, visit GARP's Risk Insights: https://www.garp.org/risk-insights

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

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Today's Speaker

Richard Flemmings is founder and CEO of Map Impact, a climate and environmental risk analytics firm providing bottom-up analysis of dry-perils and biodiversity. With more than 20 years' experience applying satellite earth observation and geospatial technologies across government, engineering, and NGO clients, he specializes in translating environmental data into practical insights for housing, resilience building, and climate adaptation.