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Hushed or Shushed?
Listening to the Signals in CRE
Anyone out there feeling hushed or shushed in your work in CRE?
In commercial real estate today, there is a new message being delivered in meetings, strategy decks, and performance reviews. And much of it is non-verbal.
Are you being hushed? Told, gently, to wait, to soften the language, to hold off on pushing your initiative forward?
Or are you being shushed? Met with dismissal, defensiveness, or silence when you raise issues around sustainability, resilience, and governance?
There is a difference. Hushing is quieting for reflection. Shushing is silencing for avoidance.
This distinction is critical, particularly for those on the frontlines of anything related to ESG+R efforts in CRE today, including portfolio managers, operations teams, asset strategists, sustainability experts, and capital markets professionals.
ESG+R frameworks are far more than compliance checklists or communications tools. They are essential strategic tools designed to illuminate both risk and opportunity. By mapping exposures and uncovering areas of untapped potential, these frameworks equip organizations to make smarter, more resilient capital allocation decisions. In doing so, ESG+R becomes a compass, not just for avoiding downside, but for navigating toward long-term value creation.
The way that an organization engages with ESG+R reflects how it allocates capital, sets priorities, and defines value. What gets advanced, what gets sidelined, and ultimately, what value gets created or left behind.
The companies that are hushing ESG+R might be slow to act, but they are listening. They are aware that there is a signal, even if they have not yet built the systems or confidence to respond. There is still time to course-correct and act.
But the companies that shush? They are choosing to not engage with the signals. Their capital allocation reflects reactive rather than resilient planning. Their teams feel isolated or muted. Their risk registers miss the forest for the trees.
The relevance ROI of Risk of Ignoring is real. When ESG+R frameworks are dismissed, organizations are not just risking regulatory penalties or investor skepticism. They are risking operational resilience. Access to talent. Customer satisfaction. Ability to attract capital. And ultimately, asset value.
Preserving and creating value in CRE is our guiding principle. In today’s CRE environment, meeting this core principle requires clarity on how ESG+R fits into the core strategy. It is not an add-on. It is a lens. And firms that build around it are finding new growth paths: cleaner data systems, stronger community relationships, predictive technology solutions, robust capital stacks, more resilient assets.
History is a powerful teacher in CRE. During the Great Financial Crisis, those who were over-leveraged and under-prepared paid the price. During the early days of sustainability in real estate, those who built green before it was cool saw premium rents and lower expenses that delivered higher NOI with better cap rates. In the COVID-19 pandemic, firms with digital infrastructure already in place kept the lights on, kept their tenants, and came out ahead.
When ESG+R is shushed, the risk builds in the background. When it is hushed, there remains the chance for calibration. But the real value lies in action. Not performative reporting. Not chasing certifications without operational alignment. Action rooted in strong governance, stakeholder engagement, and a commitment to long-term value creation.
We are again at a crossroads. Are we hushing ESG+R to listen with intention and respond wisely? Or are we shushing it to our own detriment?
Capital is already deciding. Now is the time to make sure that we are listening before it moves on.