Real Estate Giant Cushman & Wakefield Details Net Zero Path

Real estate, real impact. Global real estate services firm Cushman & Wakefield is one of the world's largest commercial real estate firms. In an industry responsible for building the future of our planet, sustainability ought to be a key consideration.

As such, the US-based company has just released its latest sustainability report, Better Begins Now. The report covers its performance on an array of ESG metrics, as well as a forward-looking slant, outlining a vision for a greener future in real estate.

A recurring message is that real action must begin now, not later. Cushman & Wakefield says of the release of the report: "We will never settle for making change later when the world needs practical changes now. That's why we believe that a better future begins now."

Shaping the future for generations to come

In Better Begins Now, Cushman & Wakefield embraces responsibility, embedding sustainability into the core of its strategy for the years to come. 

Cushman & Wakefield's CEO Michelle MacKay says: "As a leading global commercial real estate firm, we know that when it comes to sustainability, what we do today shapes the future for generations to come."

As with most companies, Cushman & Wakefield's approach to net zero is two-pronged. First, focusing on reducing the company's environmental impact, then, helping clients to reduce theirs.

Boosting Cushman & Wakefield's own ESG credentials

To tackle the issue of emissions, Cushman & Wakefield has set science-based targets, validated by the Science Based Targets initiative (SBTi).

The firm has committed to reducing its absolute Scope 1 and 2 greenhouse gas emissions by 50% across its corporate offices and operations by 2030 compared to a 2019 baseline. There's also a self-imposed deadline of 2050 for achieving net zero across Scopes 1, 2 and 3.

Another important aspect of ESG is inclusion and Cushman & Wakefield is performing well against its diversity goals.

Michelle adds: "Cushman & Wakefield continues to integrate sustainable solutions into our business along with delivering on our commitment to champion DEI. For example, women made up 40% of the firm’s total workforce in 2023 and currently 75% of our Board of Directors are women. We’re not just making promises — we’re driving real change."

And it's not just the diversity of its employees — the company is also embedding diversity into its supply chain. Cushman & Wakefield's Supplier Diversity Programme supports the inclusion of diverse and underrepresented suppliers in the procurement process, ensuring there is equal opportunity throughout its operations.

Supplying sustainability as a service

On Better Begins Now, Jessica Francisco, Cushman & Wakefield's CSO, stressed the importance of working with clients to reduce their carbon footprints.

She said: "[We want] to enable our clients to achieve their ambitious sustainability goals in the built environment. While we have set ambitious targets for the years to come, we believe that a better future begins now."

It has also pledged to engage its clients, representing 70% of emissions at its managed properties to set their own science-based targets by 2025.

In the report, a B2B sustainability model is outlined for cases when a client comes to Cushman & Wakefield to oversee a building project. The model is divided into four stages of the project process:

1. Plan: Embedding sustainability into the project from the first steps, building ESG considerations into initial portfolio planning discussions with clients

2. Transact: Encouraging sustainable investments from clients, highlighting location specific factors such as social impact, climate transition and brown to green initiatives

3. Design: Creating state-of-the-art structures for clients including net zero technology, sustainable workplace design, retrofitting fixings for material, cost and heat efficiency

4. Operate: Managing buildings for clients in a sustainable way, procuring renewable energy sources, sustainable utility management, green cleaning programmes and much more.

The road ahead for Cushman & Wakefield

To achieve its targets, Cushman & Wakefield has really ramped up its suite of sustainability service offerings for its occupier, owner and investor clients.

From advising on energy efficiency and renewable energy solutions to managing climate change risks and opportunities, the firm is positioning itself as a trusted partner in the race towards a more sustainable built environment.

Michelle concludes: "We are aligning our business to be a leader on the world’s megatrends, including climate change and technological transformation, envisioning new services with our clients to assist them in transitioning toward a net zero world."
******
Construction Magazine is a BizClik brand