Koteng Eiendom takes a holistic approach to climate risk in its property portfolio

When the extreme weather event "Amy" hit parts of Norway, it demonstrated how quickly weather-related incidents can have real consequences for properties and local communities. For Koteng Eiendom, one of Norway's major real estate operators, it confirmed something the company had already begun acting on: the need for structured, up-to-date climate risk information as part of ongoing operations, not just in the aftermath of events.

"When climate risk has been thoroughly mapped in advance, you are far better equipped before, during, and after extreme events."

— Jan-Roger Bjørnstrøm, Head of property operations, Koteng Eiendom

Today, Koteng uses Telescope to assess climate risk across its entire portfolio, covering three interconnected risk areas: physical climate risk (flooding, surface water runoff, extreme weather), biodiversity risk (how properties are located relative to vulnerable ecosystems), and transition risk (energy performance and transition planning).

The full picture, not just the weather

For Koteng, working with climate risk means looking beyond extreme weather events.

"For us, it's important to understand the full picture. Climate risk isn't just about flooding and weather. It's also about how our properties are affected by, and how they affect, the environments around them."

— Anette Vinje, Head of sustainability, Koteng Eiendom

By assessing physical, biodiversity, and transition risk together rather than in isolation, the company gets a more complete basis for decisions on development, operations, and long-term portfolio strategy.

Data as a starting point, not the final answer

The risk assessments aren't static reports. Koteng continuously updates and qualifies the analyses based on detailed knowledge of each property, its technical systems, and local conditions.

"The system gives us a structured, data-driven starting point, but we always combine it with our own experience and practical insight into the portfolio. It gives us a better basis for prioritising measures and making long-term decisions."

— Jan-Roger Bjørnstrøm, Head of property operations, Koteng Eiendom

In practice, this means the assessments feed directly into asset management, development decisions, and dialogue with banks and other external stakeholders, not just annual reporting.

A market that's moving fast

Koteng's approach reflects a broader shift. Banks are integrating ESG assessments into credit processes, and expectations from investors and financial actors are becoming clearer. Companies that can document how they understand and manage risk at property level are increasingly better positioned for financing and long-term value preservation.

"We see that expectations and requirements from both the market and financial actors are becoming clearer. It's therefore essential to be able to document how we understand and manage risk at the property level."

— Anette Vinje, Head of sustainability, Koteng Eiendom