As we navigate our way towards a post-COVID world, there is another secular, global environmental risk that the real estate industry must also confront: climate change. It is clear that decarbonization poses an existential threat to real estate assets, leaders, and firms. Many companies have indeed begun to develop a sustainability strategy. But too often these efforts lack substance. In 2019 we saw a sea change as regulators, public markets, and world-class tenants put the industry on notice: get your sustainability act together or we will hold you accountable. With this new spotlight on industry leaders, only two metrics matter in your sustainability strategy: decarbonization and dollars invested.