Centri’s Mihir Jhaveri & Michael Mastruzzo Featured in NJBIZ: Unlocking the Potential of ESG in Real Estate
The article highlights the importance of real estate businesses integrating Environmental, Social, and Governance (ESG) frameworks into their operations. Despite challenges such as economic difficulties and unclear regulations, companies need to reassess their mindset and prioritize ESG to enhance profitability and mitigate risks in the long term.
Real estate entities have the opportunity to positively impact the environment and society, attracting higher-quality tenants and increasing profitability through ESG integration. Stakeholders, including tenants and regulators, expect organizations to align with their values and report on ESG goals. While there may be concerns about costs, inconsistent reporting, and the lack of mandates and standardized frameworks, regulatory requirements and industry frameworks are emerging, making it necessary for businesses to start their ESG journeys. Additionally, ESG should be viewed in conjunction with risk management, as it can affect asset valuation and attract top talent.
5 ways you can get started on your ESG journey:
- Set short-term and long-term goals
- Craft a specific plan with realistic and achievable steps to accomplish those goals
- Identify the risks of potentially setting unrealistic objectives
- Develop a plan for monitoring progress and measuring success
Real estate entities should prioritize ESG now to avoid future business and financial risks and capitalize on the potential benefits of ESG programs. Contact Centri’s experts to learn how we can help you get started on your ESG journey.
Partner | Risk & Sustainability Practice Leader | CPA, CIA, CISA, CFE, CITP, CGMA
Mihir is a Partner at Centri Business Consulting and the leader of the firm’s Risk & Sustainability Practice. He has over 15 years of experience helping large Fortune 500 publicly-traded and private companies drive process...
Managing Director | Real Estate Practice Leader | CPA
Michael is a Managing Director at Centri Business Consulting and the leader of the firm’s Real Estate Practice. He joined Centri in June 2022 and assists in practice development across the firm’s service lines. Throughout...
About Centri Business Consulting, LLC
Centri Business Consulting provides the highest quality advisory consulting services to its clients by being reliable and responsive to their needs. Centri provides companies with the expertise they need to meet their reporting demands. Centri specializes in financial reporting, internal controls, technical accounting research, valuation, mergers & acquisitions, and tax, CFO and HR advisory services for companies of various sizes and industries. From complex technical accounting transactions to monthly financial reporting, our professionals can offer any organization the specialized expertise and multilayered skillsets to ensure the project is completed timely and accurately.
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