The ten highest-risk markets include Northern Virginia, the Carolinas, Atlanta, Johor, Singapore, Batam, Marseille, Bangkok, Beijing, and New York/Northern Jersey. Lowest-risk markets cluster in northern Europe (Stockholm, London, Copenhagen, Amsterdam, Oslo, Dublin) plus Toronto, San Francisco, Montreal/Quebec & Bogota. The industry is concentrating capacity in demanding locations rather than favorable ones. 30–50 percent of 2026 projects face delay as established hubs hit power, land & permitting constraints. The central argument: climate risk is underpriced. Markets with comparable power costs and demand are underwritten as equivalent despite materially different risk profiles,…
Read MoreMore than half of data centers face drought or flood risk, report finds
