Cushman & Wakefield

The company makes a commitment to engage with clients to ensure that 70% of them have science-based targets by 2025 to reduce the scope 3 emissions from the company’s managed properties. Furthermore, the company commits to sharing information with its clients on topics such as GHG emissions, but there is no evidence of the impacts of this action. However, Cushman & Wakefield has not set specific targets for emissions reduction as a result of client engagement. The company can improve its performance by creating a client-engagement strategy governed by a clear policy and integrated into business decision making. 

There is no evidence that Cushman & Wakefield has a low-carbon transition plan. The company should establish a time-bound action plan that outlines how it will transition to a low-carbon economy. This should include medium– and long-term targets, verifiable and quantifiable key performance indicators and financial commitments. Additionally, the plan should be informed by scenario analysis to ensure that its ambition is sufficient to align with a 1.5°C pathway. 

Cushman & Wakefield states in its environmental policy that it will require suppliers and subcontractors to operate in an environmentally responsible manner and adhere to relevant environmental standards. However, there is no evidence the company has integrated emissions reduction into its engagement with suppliers. There is also no evidence that the company’s supplier engagement has been impactful. The company can provide clear guidance for its supply chain on how it expects it to align with the low-carbon transition. Additionally, it can measure the impact of its client engagement actions to enable both the company and its supply chain to monitor the progress being made. 

The company is a member of Business Roundtable, a trade association that is reported to have lobbied against government investments related to climate change and legislation supporting climate disclosure. There is also no evidence of the company publicly supporting significant climate policies. However, the company is a member of the campaign Business Ambition for 1.5°C, which aligns with the goals of the Paris Agreement. The company can increase its credibility by setting a clear position on climate policy and by implementing processes to withdraw from trade associations that oppose climate-aligned policies. 

The company’s targets have been validated by the SBTi in line with a 1.5°C scenario. It commits to reaching net-zero emissions across its value chain by 2050, with a direct emissions reduction in scope 1, 2 and 3 emissions by 90% and a 50% reduction in scope 1 and 2 emissions by 2030 compared to 2019. However, the company does not report an interim target to reduce scope 3 emissions, which represent the bulk of its emissions. 

There is no evidence that Cushman & Wakefield has a low-carbon transition plan or that it has conducted climate scenario analysis. However, the company does outline some short-term actions it is taking to reduce emissions, such as promoting sustainability amongst clients representing the bulk of its emissions. 

The company has a target to engage with clients that represent 70% of the company’s scope 3 emissions to get them to set science-based targets for emissions reduction. There is evidence of the company implementing strategies towards this goal. However, there is no evidence the company has integrated emissions reduction into its engagement with suppliers. 

The company’s emissions intensity increased between 2019 and 2021. This contrasts with the company’s 1.5°C pathway, which requires the company to substantially decrease its emissions intensity. The company has only started disclosing emissions intensities and floor area for the past three years. 

The company acknowledges climate change as an issue but has not created a low-carbon transition plan. It has started to take action to adapt its business model to support the sectoral low-carbon transition. The company’s targets have been validated by the SBTi, but it is not on track to meet its net-zero by 2050 target. Also, the company has not set interim targets for scope 3 emissions, which account for the bulk of its emissions 

No evidence was found of Cushman & Wakefield’s commitment to social dialogue or of the categories of stakeholders the company engages with on 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 of the company undertaking just transition planning to mitigate the social impacts of the low-carbon 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 by Cushman & Wakefield 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 of the company’s action to promote these jobs 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.  

No public commitment by the company was found stating its intention to re- and up-skill workers displaced by the low-carbon transition. Additionally, no evidence was found that the company re- and up-skills workers in a way that ensures gender balance and inclusion of vulnerable groups. 

No relevant disclosure was found to show if Cushman & Wakefield identifies impacts of the low-carbon transition on social protection for workers and 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 show 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. 

Cushman & Wakefield has a grievance mechanism available to workers and external stakeholders to raise human rights concerns. However, no other company policies or commitments related to respect for human rights were found in the public domain. This includes the necessary policies and systems by which the company can ensure respect for basic human rights in its operations and supply chain. 

No evidence was found that Cushman & Wakefield commits to respecting worker health and safety and expects the same commitment of its business relationships. Moreover, no evidence was found of the company having a time-bound target for paying all its workers a living wage. It is also unclear whether the company discloses the proportion of its direct workforce covered by collective bargaining agreements and its required working hours. The company discloses some indicators of workforce diversity, including the age, gender, race and ethnicity of its workforce by employee category. However, no relevant disclosure was found that the company commits to promoting gender equality and women’s empowerment. 

Cushman & Wakefield commits to protecting personal data. However, no evidence was found of the company having a privacy statement regarding the collection, sharing and access to personal data. There was also no evidence to indicate that the company discloses its global tax strategy and the corporate income tax it pays in individual jurisdictions. The company does have a policy prohibiting bribery and corruption, and it includes corresponding clauses in its business relationship contracts. Furthermore, the company has a lobbying and political engagement policy. However, no relevant disclosure was found regarding the company’s expenditure on lobbying activities, nor does the company specify that it does not make political contributions.