Tuesday 28 September 2021

Real estate firm CBRE commits to net zero emissions by 2040

US commercial real estate services and investment company CBRE Group has announced its commitment to achieve net zero carbon emissions by 2040.

It includes emissions reductions from its own operations and the properties it manages for investors and occupiers, as well as indirect supply chain emissions.

The company – which manages nearly seven billion square feet of corporate facilities and commercial properties worldwide - has signed The Climate Pledge, a commitment to achieving net zero carbon 10 years ahead of the goal in the Paris climate agreement.

CBRE's latest pledge builds on the company's science-based emissions reduction target announced last year, which includes cutting Scope 1 and 2 emissions by 68% by 2035, compared to 2019 levels and cutting Scope 3 emissions, i.e. from its facilities it manages for occupiers worldwide, by 79% per square foot by 2035.

It also committed to source 100% of its electricity from renewable energy sources by 2025 and switch its fleet to electric vehicles (EVs).

Bob Sulentic, President and Chief Executive Officer of CBRE said: “As the world’s largest manager of commercial real estate, we have a special obligation to help the world address the many challenges posed by the warming planet.

“CBRE is deeply committed to doing our part and to working with our clients and across our vast global supply chain to help achieve net zero emissions as quickly as possible. This is an essential element of our commitment to the communities in which we operate.”