How CBRE Will Decarbonise Properties Around the World
Buildings account for a large portion of global CO₂ emissions due to their energy use for heating, cooling and powering appliances.
CBRE, the world's largest property manager, manages around seven billion square feet including its facilities management around the world.
The firm has made admirable sustainability commitments and has already started to take action on them.
CBRE’s Climate Transition Strategy outlines a framework for identifying and prioritizing actions to achieve SBTi validated goals, including net zero by 2040.
Robert Bernard, Chief Sustainability Officer at CBRE, says: “As a global leader in commercial real estate, we are uniquely positioned to lead by example in reducing our climate impact.
“We know minimising GHG emissions—particularly across the supply chain—can be complex, which is why we’ve outlined the actions we’ll take in our Climate Transition Strategy to reach our net zero goal by 2040.
“While our roadmap includes ambitious targets, we remain committed to driving progress in the CRE industry.”
What is in CBRE’s Climate Transition Strategy?
Scope 3 emissions are undoubtedly the biggest obstacle for CBRE, making up 99.5% of its total GHG emissions.
The strategy sets out new climate goals for 2030 to reduce its environmental impact, aiming to reduce Scope 1 and 2 emissions by 50% and reduce the emissions per sq. ft. from properties and facilities managed for clients by 55%.
- Maximise resource efficiency
- Increase renewable energy
- Electrify operations for building systems and vehicles
- Decarbonise the supply chain
Each pathway includes actions CBRE will take for its own operations and in its role as the managers of client properties.
The company’s Transition Strategy builds on its work to position itself to transition to a low carbon economy.
This work includes implementing financial-grade GHG emissions accounting, investing in strategic partnerships and acquiring the renewable energy advisory and brokerage group of NRG Energy.
“Only a small number of global companies have reached this milestone of having both a validated net zero target and a published transition plan to get there,” Robert says.
“We developed our plan in part to show our clients and suppliers what is possible and what actions will drive progress.
“Their success in reducing emissions is our success. By simplifying complexity, we are helping accelerate sustainability for ourselves, our clients and the industry at scale.”
CBRE’s sustainability progress
Since 2019, the company has reduced absolute GHG emissions across total Scope 1, 2 and 3 emissions by 18%.
By the end of 2025, CBRE will use 100% renewable energy for its corporate operations.
The firm will also electrify its fleet 100% by the end of 2035.
Its Scope 1 and 2 emissions have decreased by 25% since 2019, driven primarily by optimisation of its corporate office portfolio and increased procurement of renewable energy.
CBRE says this progress puts it on track to potentially achieve its 2030 Scope 1 and 2 reduction target ahead of schedule, possibly as early as 2026.
Between 2019 and 2023 it decreased electricity use in its corporate offices by 12% and natural gas use by 9%.
It purchased 23% of its energy from renewable sources in 2023, an increase from 16% in 2022.
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