Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps the Valuation Office Agency is taking to incorporate the potential effects of climate change into valuations, including (a) rising sea levels, (b) flooding and (c) storm surge damage.

The Valuation Office Agency (VOA) monitors how the potential effects of climate change are being reflected in current open market value transactions. By looking at how market reactions may evolve, the VOA ensures valuations are appropriately aligned. The VOA follows current guidance from the Royal Institution of Chartered Surveyors on relevant topics, such as flooding, and continues to monitor developments in the associated fields of climate change and renewable energy measures.