CBRE Group

CBRE has a range of solutions to influence its clients to reduce their greenhouse gas (GHG) emissions. The company supports its clients in developing their own sustainability strategy and targets, and 54% of the clients partnering on CBRE’s Global Workplace Solutions have made net-zero commitments. The company offers services to identify emissions sources and track and analyse changes over time. It seeks to accelerate clients’ decarbonisation through technical solutions such as electric vehicle (EV) infrastructure and energy services. CBRE supports clients in achieving green building certifications and implementing sustainable supply chain strategies. The company also offers support to clients to transition to renewable energy sources, including providing on-site solar capacity. 

CBRE has implemented a supplier code of conduct, which requires suppliers to promote efficient use of resources and energy, as well as clean and low-energy solutions. However, the company has not yet integrated emissions reduction into its code of conduct. To improve its supplier engagement, the company should create quantified targets and reporting requirements for all suppliers. 
CBRE encourages suppliers to report to a sustainability rating agency. However, as of 2022, only 1% of its suppliers comply with this and it is not specified what data this includes. CBRE can improve its performance by considering GHG emissions reduction in its selection of new suppliers and contract renewal of existing suppliers.  

The in-use emissions intensity trend of CBRE’s property management portfolio decreased by approximately 8% between 2019 and 2020; however, it increased by a significant 60% in 2021. This is in contrast with the company’s 1.5°C pathway, which requires the company to reduce the in-use emissions intensity of its portfolio by 9% per year between 2021 and 2026. Data shows that this increase stems entirely from the properties that CBRE manages for investors, though the company itself does not provide evidence of the reason for this increase. 
The company does not quantify plans to renovate its portfolio. As a result, it is not possible to reliably forecast the company’s emissions intensity between 2021 and 2026. Although CBRE reports emissions for its property development portfolio, it does not report floor area. Hence, it is not possible to meaningfully assess the trend in past emissions for the company’s developed buildings. The company can improve its performance by addressing these data gaps. 

CBRE demonstrates an inconsistent climate policy positioning. The company is a member of climate initiatives, such as the World Green Building Council’s Advancing Net Zero programme and The Climate Pledge, and publicly supports the Paris Agreement. However, the company is also a member of Business Roundtable, which lobbied against the US Securities and Exchange Commission’s climate disclosure rule, and has disclosed its support for increased oil and gas leasing in the US. CBRE can increase its credibility by setting a clear position on climate policy and by implementing processes to withdraw from trade associations that oppose climate policies. 

CBRE has started developing a low-carbon transition plan for its 2040 net-zero target. The company’s plan to tackle its scope 1 and 2 emissions is broken down into the buildings, transport, energy and procurement segments. The plan contains targets to purchase 100% renewable energy for corporate offices by the end of 2025 and attain 100% fleet electrification by the end of 2035.  
CBRE’s plan to reduce its scope 3 emissions is based on 1.5°C climate scenario testing. The company states it will reduce emissions through energy efficiency improvements, collaboration with stakeholders and switching to renewable electricity. CBRE can strengthen its plan by including quantifiable key performance indicators and financial commitments.  

CBRE aims to reach net zero by 2040. By 2035 the company aims to reduce scope 1 and 2 GHG emissions by 68% from 2019, scope 3 emissions from properties managed on behalf of occupiers by 79% per square foot, and scope 3 emissions from properties managed on behalf of owners by 67% per square foot. 

CBRE plans to reduce emissions through energy efficiency improvements and collaboration with stakeholders such as tenants, customers and suppliers. It intends to switch to renewable electricity where feasible and remove residual emissions through permanent carbon removal and storage solutions. 

CBRE supports its clients by providing decarbonisation services. It has also partnered with energy services and a renewable energy services provider to develop new low-carbon business models. However, the company is still a member of Business Roundtable which opposes pro-climate policies. 

CBRE’s reported emissions intensity data shows that the properties it manages for occupiers (approximately 25% of properties managed by floor area) have seen an 11% reduction in emissions intensity since 2019, which is in line with the company’s 1.5°C pathway. In contrast, the emissions intensity for properties it manages for investors has increased by 84%.  

CBRE is taking concrete steps towards its low-carbon transition, including setting strong targets and undertaking comprehensive work with clients. However, the company is not on track to meet all of its targets and its new low-carbon business models lack future clarity. 

No evidence was found that CBRE’s commits to social dialogue or of the categories of stakeholders the company engages with the topic of a just transition. Furthermore, no evidence was found to demonstrate the company’s ongoing social dialogue and meaningful engagement with affected stakeholders. 

No evidence was found that CBRE undertakes low-carbon transition planning to mitigate the social impacts of the transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in its just transition planning.  

No public commitment was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found that the company’s action to promote these jobs is in a way that ensures gender balance and inclusion of vulnerable groups. Additionally, no relevant disclosure was found of the company’s assessment of employment dislocation risks. 

The company discloses the actions it takes to provide re- and up-skill workers.  Furthermore, the company discloses the measures it takes to embed equality of opportunity for women and vulnerable groups in these actions. It does this through participating in non-profit organisations and create career opportunities for women of colour. However, no evidence was found that the company has a process for identifying skills gaps for workers and stakeholders affected by the low-carbon transition or a public commitment to help workers displaced by the transition to re- or up-skill. 

CBRE discloses its contribution to providing social protection for its workers. For instance, the company provides outplacement assistance as part of the transition assistance package to employees who are affected by a reduction in force. However, no relevant disclosure was found displaying if the company identifies impacts of the low-carbon transition on social protection for affected stakeholders, nor how it contributes to social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders.  

No relevant disclosure was found to display how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers. 

CBRE commits to respecting human rights, and it expects its business relationships to respect the ILO fundamental rights at work. The company also has a grievance mechanism available to workers and external stakeholders. However, no evidence was found that the company commits to respecting the ILO fundamental rights at work. No evidence was found of the company’s process to identify, assess and mitigate salient human rights risks in its own operations and supply chain. Moreover, no evidence was found that the company discloses the stakeholders whose human rights have been affected by its activities. 

CBRE commits to respecting the health and safety of its workers and expects the same commitment of its business relationships. However, no evidence was found of a time-bound target for paying all workers a living wage. While the company discloses the proportion of its direct workforce covered by collective bargaining agreements, no relevant disclosure was found of the company’s required working hours. The company discloses some indicators of workforce diversity, including the gender and race and ethnicity of its workforce by employee category. However, no relevant disclosure was found of additional indicators of workforce diversity. The company commits to gender equality and women’s empowerment; however, no evidence was found that it discloses relevant time-bound targets. 

CBRE commits to protecting personal data, but no evidence was found that it discloses a privacy statement regarding use of personal data. No evidence was found that the company discloses its global tax strategy and the corporate income tax paid for each relevant jurisdiction. The company has a policy prohibiting bribery and corruption, but no evidence was found that it includes corresponding clauses in its contracts with business relationships. The company specifies that it does not make political contributions. Yet, no relevant disclosure was found that the company’s lobbying and political engagement policy and its expenditure on lobbying activities was available.