ESG disclosure misses the point. After years of reports, frameworks, and sustainability pledges, stranded asset risk continues to rise and the gap between leaders and laggards is widening at an accelerating pace. The problem isn't ESG’s goal; it’s when managers mistake measurement for strategy. Portfolios don't improve because you report on them. They improve when you redesign them. A wave of regulatory, technological, and market forces is repricing commercial real estate, an