From DAILY CALLER
Audrey Streb
DCNF Energy Reporter
Consumers’ Research sent a letter to several members of the Trump administration on Thursday calling on authorities to abandon any association with the company First Street over its allegedly inaccurate climate risk modeling.
In the letter, Will Hild, executive director of Consumers’ Research, notes that recent reports have raised doubts among homeowners and industry insiders about the reliability of First Street’s flood risk assessments and calls for “an interagency review of the way federal collaborations are referenced in First Street’s press.” Consumers’ Research addressed the letter to Environmental Protection Agency Administrator Lee Zeldin, Federal Reserve Chairman Jerome Powell, Transportation Secretary Sean Duffy and Acting Consumer Financial Protection Board Director Russ Vought, as well as several other agency leaders.
“First Street is attempting to force a radical climate agenda on consumers by accusing federal agencies of supporting its politically motivated climate risk models. This practice is intentionally misleading because First Street’s climate models undermine this.” [Federal Emergency Management Agency] “FEMA’s role as the legal and regulatory standard for climate risk assessment arbitrarily distorts consumer property values,” Hild told the Daily Caller News Foundation. “That’s why we’re calling on these federal agencies to make clear that they do not support First Street and calling for the agency branding to be removed from all public materials.” Consumers’ Research stands with homeowners and buyers who deserve accurate, transparent and federally validated information, not metrics dictated by climate activists.” (RELATED: EXCLUSIVE: Consumer Research Goes After Insurance Giant’s CEO for ‘Sacrificing Children to Trans Ideology’)
CR letter to agencies RE First Street Final by audreystreb
Hild points out in the letter that some federal agency announcements and materials referenced First Street’s risk assessment data, arguing that this raises concerns based on recent reports and complaints that the company’s data may not accurately reflect flood risks. Major real estate platforms such as Zillow, Redfin and Realtor.com have incorporated First Street’s flooding data into their listings, the letter said.
“Recent reports and public complaints indicate that First Street’s property-level valuations may be materially inaccurate and difficult to correct,” the letter said. “Your agencies’ names and logos – through formal agreements, data integrations or research use – will be cited by First Street as evidence of federal compliance with their property-level climate risk assessments. … I write to request that your agencies (1) publicly refrain from or suspend partnership language and implied endorsements that confer federal standing on the First Street Foundation and its affiliated nonprofit, First Street Technology, and (2) clearly state that First Street/Risk Factor findings do not may be used instead of FEMA flood maps for regulatory, insurance, lending, disclosure or listing purposes.”
First Street states on its website that FEMA’s flood risk differs from its estimates because it “calculates flood risk at the property level, considers changing climate conditions, and considers flood risk due to heavy rainfall,” whereas FEMA “determines flood risk at the community level and its risk projections include the risk of a single 1-in-100 or 1-in-500 event from storm surges and overflowing rivers and streams.”
First Street’s website states: “We exist to make the connection between climate and financial risks at scale for financial institutions, businesses and governments.”
Several local homeowners told North Carolina-based station ABC News 13 that they believed they were having difficulty selling their homes because they received a flood warning from First Street data. The homeowners argued that the data made no sense because their immediate neighbors had completely different flood warnings, even though there appeared to be no plausible explanation for it.
A Tennessee-based real estate agent told the DCNF that she believes she and others in the industry have lost sales because of First Street flooding data displayed on real estate platforms.
“Buyer interest was waning. Before we realized what was going on, we had canceled the showings,” Stephanie Cross told the DCNF. “It cripples the seller. It’s crippling to put this misinformation out there – and at the same time, it basically devalues the property.”
A Realtor.com spokesperson referred the DCNF to its flood risk information website and noted that each listing displays both FEMA data and First Street data.
“A home is often a family’s most valuable asset, which is why Realtor.com believes it is important to help homeowners, sellers, buyers and renters understand potential risks to a property so they can make informed decisions,” the spokesperson told DCNF. “We believe that including both ratings in the property listing provides a clearer picture of potential risks. If a home’s flood rating appears particularly low or high or there is a conflict, consumers should consult a real estate agent or local flood plain official for advice.”
First Street, Zillow and Redfin did not respond to DCNF’s requests for comment.
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