How CBRE is Building Sustainability into Real Estate
Buildings have a huge impact on both people’s lives and the environment.
The built environment is responsible for around 40% of global CO2 emissions and waste streams worldwide.
CBRE is a giant in commercial real estate services and has the potential to make a huge impact, leading the way in sustainability.
Its 2023 UK&I Advisory ESG Annual Report shows progress and accountability in ESG principles.
Ciaran Bird, Divisional President for Advisory Services, CEO of UK&I at CBRE, says: “As the largest commercial real estate services firm in the UK, we hold a profound responsibility to enact large-scale change.
“With a network of over 3,500 property experts across 15 locations, our reach extends across the country – enabling us to make a difference like no other.”
CBRE
CBRE stands for Coldwell Banker Richard Ellis and is the world’s largest commercial real estate services company.
Headquartered in Texas, CBRE has more than 500 locations and 44,000 employees.
In 2022 CBRE had revenue of US$30.8bn.
Robert Bernard, CSO at CBRE, says: “After speaking with clients, energy companies, start-ups, investors and 100s of employees around the world, it is clear that the complexity of trying to drive down emissions at pace and scale is creating real and significant challenges for our industry.”
It has pledged to reach net zero carbon emissions by 2040 alongside helping its customers to decarbonise.
CBRE UK&I’s environmental work
The company’s UK and Ireland division aims to scale a low carbon future by embedding sustainability within its operations.
Since 2019, it has reduced emissions by 15% and moved to an all-electric office in Glasgow.
Kaela Fenn-Smith, MD for Sustainability and ESG Consultancy UK and Ireland, says: “The largest part of CBRE’s carbon footprint is in our Scope 3 emissions – with over 90% of these being attributable to buildings we manage for clients.
“We take responsibility for cutting emissions across all three scopes, reducing emissions from our internal operations, with our biggest impact coming from supporting clients in transitioning their portfolios.”
CBRE aims to support sustainability in its clients by simplifying complex issues such as Scope 3 emissions.
It also hopes to shape industry best practice, including developing the Managing for Performance Framework with the Better Building Partnership (BBP).
CBRE UK&I’s social initiatives
CBRE empowers its people to reach their fullest potential through its RISE values.
- Respect
- Integrity
- Service
- Excellence
It aims to make progress on its gender pay gap and develop priority areas to address survey results to improve talent development and engagement.
To support its people, the company engages with Men's Health and Wellness Week and Fertility Matters at Work.
It also engages with the community through its partnership with Career Ready and has raised over £12m (US$15.4m) over its three-year partnership with charity Macmillan.
CBRE UK&I’s governance
The company is committed to leading with integrity to build trust.
CBRE’s commitment to governance and transparency ensures accountability and safeguards its clients’ interests.
It has an active role in the real estate ecosystem, allowing it to influence at every level.
The company will use robust governance structures to ensure it remains accountable, and strategic collaborations with thought leaders and change-makers to further its development.
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