Return on Tardigrade AI's Participation in the SIBCA 2025 Exhibition

The SIBCA 2025 Users Summit gathered, under the impetus of the Association of Real Estate Directors (ADI), IFPImm, IEIF, and Sarment, all stakeholders in the real estate sector: investors, landlords, users, local authorities, financiers, and experts.

Tardigrade AI would like to warmly thank ADI, SIBCA, as well as all the speakers and participants for the richness of the exchanges. The quality of the discussions showed a common will: to make adaptation and decarbonization not a constraint, but a value and resilience opportunity.

Here are a few points that we retain from these exchanges:

Part 1 – Decarbonization and CSR against the Test of Economic Reality

The discussions highlighted the limitations of an approach focused solely on CAPEX. Costs must be considered over the entire life cycle, incorporating OPEX, maintenance, and reuse. There are still many barriers: lack of reliable data on the value of a ton of CO₂ avoided, the still-emerging reuse sector. An integrated vision is necessary to avoid deferring today's unanticipated costs to tomorrow.

The EY 2025 Barometer showed the stability of locations despite successive crises. The dominant criteria remain location and costs, but CSR and decarbonization are taking on increasing importance. Remote work (≈3 days/week) alters the use of spaces and reinforces the demand for flexibility. Companies express a clear expectation: energy-efficient and environmentally friendly buildings, even if it means accepting a slight premium.

This session highlighted the scale of the financial challenge: 20 billion euros per year will be needed by 2050, compared to only 5 billion currently mobilized.

• SuperOwner stated that decarbonization can be profitable if one measures and properly values the savings.

• Perial AM emphasized the green value (+6% on some renovated assets) and the importance of timing.

• IFPImm insisted on the need for long-term funds (pension, sovereign) and private savings to finance the regeneration of obsolete assets.

• Industrial users, such as Alstom, recalled their constraints: limited finances, refusal to “pay twice” (rents + adaptation). The sharing of costs between landlords and tenants remains a point to work on.

Part 2 – In Green and Against All? Climate Change and Resilience

With +2.2°C already reached in France, adaptation is no longer an option; it is a obligation.

It is in this context that Tardigrade AI intervened to recall a key principle : climate risk is primarily a financial risk.

A precise and granular diagnosis is indispensable: rainfall flooding (often ignored), extreme heat, drought, fires, storms... We must go beyond regulatory maps to have fine data (water height, probability, network vulnerability).

Financial metrics allow for objective decision-making:

• EAL (Expected Annual Loss): expected average annual losses,

• CVaR (Climate Value at Risk): potential losses in a unfavorable scenario,

• ROCA (Return on Climate Adaptation): return on investment from adaptation actions.

These indicators provide asset managers with the means to answer the central question: can we accept the risk, should we reduce it by adapting, or can we transfer the risk?

Icade emphasized the need to anticipate climate risks today to avoid the future devaluation of assets. Elsa Marcot highlighted the importance of reversibility and flexibility of buildings, capable of adapting to upcoming climate and regulatory constraints. She reminded that the value of an asset relies as much on its energy performance as on its resilience to hazards (heatwaves, droughts, floods).

The exchanges also showed that climate risks affect essential networks (energy, water, communication), which must be integrated into diagnostics. Insurability is becoming a critical issue: some assets could become difficult to insure if their exposure is not reduced. Finally, participants called for shifting from a “risk study” approach to an “operational action plan, prioritizing investments and measuring their return.”

Consensus: adaptation should be seen not as a cost incurred, but as a lever for value creation and differentiation.

Part 3 – Transformation of Offices into Housing

The vacancy of offices and the housing shortage invite reflection on the transformation of assets.

·        Obstacles: high costs, technical constraints, complex regulatory framework.

·        Opportunities: urban regeneration, functional mixing, revitalization of territories.

But this solution can only be one lever among others: it must be part of a global strategy for adaptation and asset valuation.

Conclusion – From Observation to Action

From this summit comes a shared conviction: adaptation is not only an ecological necessity, it is a value opportunity.

• Finance massively,

• Diagnose finely,

• Measure with clear financial indicators,

• Act collectively, by fairly sharing costs and benefits.

Tardigrade AI leaves these exchanges reinforced in its mission: to help managers transform climate risk into a lever for resilience and sustainable profitability.