The emphasis on the social dimension of ESG is more pronounced than ever, followed by a need to define, measure, assess, compare, and learn the value and demand of social initiatives. By transitioning to a performance and value assessment, the real estate sector can be one of the first to ensure that its initiatives are not just well-intentioned but are also delivering tangible benefits. It's not just about doing good; it's about ensuring that the good is effective and valued.
From dismissing the severity of the problem to failing to take action, our collective inability to grasp the gravity of the situation threatens to have devastating consequences for ourselves and future generations. Why do we struggle so much to understand and act on something so vital?
Behavioral research suggests that sometimes we adhere to the rules due to constrained abilities, not due to superior morality. We must realize that we are not very good at predicting how we would act under those unknown circumstances, and stating that “you are not likely to commit fraud” does not always coincides with actual behavior.