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This report aims to set the baseline for considering the role of insurance, banks and asset management firms in financing the adaptation of real estate. It draws on initial testimonies from financial institutions and real estate professionals in France. This exploratory report aims to lay the groundwork for a dialogue on the potential role of commercial banks, property insurance companies and asset management firms in supporting investments for real estate adaptation and providing appropriate financial services. It draws on initial testimonies from financial institutions and real estate professionals in France, as well as a literature review.

Some of the key points of this report are:

• Financial actors could be expected to address the financing the adaptation of real estate, in order to manage their own exposure to climate risks and to grasp the opportunities from engaging with adaptation businesses. 
• However, banks and asset managers often do not see their interest in adaptation, nor their added value in supporting their real estate clients in defining an adaptation strategy. 
• Insurance companies contribute to climate disaster risk resilience through the French Cat Nat public-private partnership system. However, they face difficulties taking action for the prevention of disasters, due to economic considerations or a lack of demand.
• Public action is needed to drive real estate adaptation, while gradually engaging financial actors.