During the property investment process, Nuveen Real Estate considers the climate change adaption at a market and asset level.
At a market level, a number of different toolsets are used such as the Climate Change Adaptive Capacity Index provided by Verisk Maplecroft, which assesses the present abilities of a country's institutions, economy and society to adjust to, or take advantage of, existing or anticipated stresses resulting from climate change. The index focuses on the structural, gradually changing factors that determine adaptive capacity, and is thus likely to also be broadly representative of a country's future climate change adaptation capabilities. 

At an asset level, thorough technical and environmental due-diligence is used to assess the resilience of a prospective investment to the impacts of climate change. An assessment is made on the extent to which additional resilience measures can be implemented via cashflow management over the investment period. Pricing reviewed to appropriately reflect additional cashflow requirements

Nuveen Real Estate considers the energy efficiency of a property prior to acquisition where that information is available. Where actual energy data is not available, benchmarks are utilised or  certification as a proxy for operational performance. Nuveen Real Estate assesses the investment’s likely operational performance in the context of transition risk in the form of regulation and for the requirement for all buildings to be Net Zero Carbon by 2050 if the commitments made as part of the Paris Agreement are to be met. The ability of the asset to mitigate transition risk via cashflow management is assessed. Pricing reviewed appropriately to reflect additional cashflow requirements.

During the property investment process, Nuveen Real Estate considers environmental risk factors such as flooding risk by checking publicly available federal flood plain and coastal flooding projection maps during initial screening and undertaking environmental due diligence (carried out by an accredited third party for each acquisition) to review base flood elevation requirements are met. As with climate change adaptation and energy efficiency, an assessment is made of the ability of the asset to maintain resilience via cashflow management taking into account expected changes in the cost and availability of insurance. Pricing reviewed appropriately to reflect additional cashflow requirements.

Natural Hazards are assessed using the Maplecroft risk index as an initial screen and further research is conducted in locations that display Extreme or High risk scores for natural hazards such as severe storms or wildfire. Investment teams inquire about recent severe events and impacts on building and market tours, in addition to researching publicly available weather data.
        

          Nuveen Real Estate considers the energy efficiency of a property prior to acquisition where that information is available. Where actual energy data is not available, benchmarks are utilised or  certification as a proxy for operational performance. Nuveen Real Estate assesses the investment’s likely operational performance in the context of transition risk in the form of regulation and for the requirement for all buildings to be Net Zero Carbon by 2050 if the commitments made as part of the Paris Agreement are to be met. The ability of the asset to mitigate transition risk via cashflow management is assessed. Pricing reviewed appropriately to reflect additional cashflow requirements.
        

          During the property investment process, Nuveen Real Estate considers environmental risk factors such as flooding risk by checking publicly available federal flood plain and coastal flooding projection maps during initial screening and undertaking environmental due diligence (carried out by an accredited third party for each acquisition) to review base flood elevation requirements are met. As with climate change adaptation and energy efficiency, an assessment is made of the ability of the asset to maintain resilience via cashflow management taking into account expected changes in the cost and availability of insurance. Pricing reviewed appropriately to reflect additional cashflow requirements.
Natural Hazards are assessed using the Maplecroft risk index as an initial screen and further research is conducted in locations that display Extreme or High risk scores for natural hazards such as severe storms or wildfire. Investment teams inquire about recent severe events and impacts on building and market tours, in addition to researching publicly available weather data.
        

          During the property investment process, Nuveen Real Estate considers building safety and materials by referring to the technical due diligence report (carried out by an accredited third party for each acquisition).
        

          During the property investment process, Nuveen Real Estate considers health, safety and well-being by referring to the technical due diligence report (carried out by an accredited third party for each acquisition).
        

          For the majority of investments, Nuveen Real Estate considers the socio-economic impact of a property using market demographic research during the investment process.
        

          Nuveen Real Estate has a dedicated anti corruption policy providing a frame for investment management activities. This policy is applicable to all Nuveen employees
        

          Nuveen Real Estate has a dedicated conflicts of interest policy providing a frame for investment management activities. This policy is applicable to all Nuveen employees.
        

          Nuveen Real Estate undertakes a review of material regulatory energy efficiency legislation as part of acquisition in order to understand the investment’s position vis-à-vis the regulatory transition risk.