Anticipated climate change impacts on the real estate sector has the potential for devastating value implications, in both the short and long term. Businesses, organisations, governments, and real estate owners and occupiers are currently tackling a changing policy environment relating to emissions reporting. In addition, a greater understanding of a range of climate change risks and the exposure of assets to a raft of risks is seeing an altering in assessment and action to future proof their businesses and assets. Valuers, in their pivotal role of evaluating real estate markets and assessing market values will need to consider how this changing environment, shifting understanding of traditional risk considerations and how policy and climate and transitional risks are incorporated into valuation practice. This paper presents current valuation practice challenges identified in valuing real estate and consideration of sustainability, emissions and climate change risks.