The Challenge

Assura, a UK Registered REIT, active in the healthcare sector, is captured by the FCA mandate on climate-related disclosures by virtue of being a premium publicly listed company. To fulfil this mandate, in January 2022 Assura instructed EVORA Global to deliver bespoke TCFD and Climate Resilience support.

Our Approach

EVORA Global’s work consisted of capacity building through the provision of interactive training workshops on:

• The TCFD framework and the UK regulatory requirements on climate related disclosures
• Identifying, assessing and managing climate risks and opportunities for the real estate
• Climate scenario analysis in consideration of the regulatory requirements, as Assura is captured by the UK FCA rules on Climate-related disclosures.

The purpose of the training modules was to enhance the understanding within Assura’s senior management of how climate risk and resilience impact real estate and how these impacts affect the value of their investments.

Key Outcomes

Alongside the training, EVORA Global conducted an in-depth review of climate risks identified by Assura in order to:

• Consider the broadest possible range of risks and opportunities, including climate drivers of broader risks to the business and how these impact Assura’s investments and business strategy
• Identify the most material risks to Assura and translate the direct and indirect impacts of physical and transition climate risks into financial terms
• Develop and implement climate risk management based on the TCFD aligned methodology.

EVORA Global’s work has helped educate Assura on the exact next steps required in order to be ready for a TCFD disclosure.