Cyrela Brazil Realty

There is no evidence that Cyrela Brazil 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. The plan should be informed by scenario analysis to ensure that the plan’s ambition is sufficient for a 1.5°C pathway.

Cyrela Brazil has not set any emissions reduction targets. The company should introduce targets to cover emissions from its operations and value chain. The company should ensure that this target aligns with its 1.5°C pathway. Furthermore, the company should set regularly spaced intermediate targets at no more than five years gaps to incentivise near-term action.

Cyrela Brazil does not disclose the expected in-use emissions intensity data, or total floor area for the buildings it developed in the reporting year or previous years. As a result, it is not possible to provide a meaningful assessment of the company’s past emissions trend or projected future performance. The company does not quantify commitments to perform renovations for clients to significantly reduce the emissions intensity of existing buildings.

Cyrela Brazil has no strategy or initiatives to drive emissions reduction in its supply chain. The company can improve its performance by integrating emissions reduction requirements into its engagement with suppliers. For example, requesting suppliers to publicly report their GHG emissions and setting scienced-based targets.

Cyrela Brazil has not set emissions reduction targets, nor any other quantified measures of success. The company has not developed a vision of what its business will look like in a low-carbon future beyond small-scale actions.

Cyrela Brazil does not have a transition plan. However, the company has stated that it intends to develop one in the short term. The company has not conducted a climate change scenario analysis and its sustainability report is not supported by targets.

The company’s low-carbon actions are limited to a project on reusable construction moulds that have been piloted in one construction project. In 2021, Cyrela invested USD 60,000 in projects related to emissions management, circular economy, GHG emissions reduction and renewable energies.

Cyrela Brazil does not disclose emissions intensity or future renovation data. There is limited evidence that the company has invested in the R&D of low-carbon technologies. In 2021 the company piloted its strategy for reusable construction moulds but lacks data on the outcomes of the initiative.

Cyrela Brazil does not have an environmental strategy that is aligned with a low-carbon transition. The company has not published a transition plan nor has set emissions reduction targets. There is little evidence that the company has integrated climate change into its business model.

Cyrela Brazil Realty publicly discloses a commitment to engaging in social dialogue with workers and unions. However, no relevant disclosure was found regarding the categories of stakeholders it engages with on a just transition. Nor was there any evidence to show the company’s ongoing social dialogue and meaningful engagement with affected stakeholders.

No evidence was found that the company 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 Cyrela Brazil Realty’s engagement in social dialogue and with stakeholders in its just transition planning.

No public commitment by the company 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.

The company discloses the actions it takes to provide training opportunities for workers and affected stakeholders. For instance, it offers training on career development and ESG for real estate agents. Furthermore, Cyrela Brazil Realty discloses the measures it takes to embed equality of opportunity for women and vulnerable groups in these actions. It does this through two programmes that provides skills training to underprivileged individuals and women in the technological field. 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.

No relevant disclosure was found to show if Cyrela Brazil Realty 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.

The company has a grievance mechanism available to workers and external stakeholders. However, no policies or commitments are evident related to respect for other human rights was 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 the company commits to respecting the health and safety of its workers and expects the same commitment of its business relationships. 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 age, gender, and race and ethnicity of its workforce by employee category. Additionally, the company also discloses the proportion of disabled and LGBT employees as indicators of workforce diversity. Nevertheless, no evidence was found that the company commits to gender equality and women’s empowerment.

No policies or commitments of the company related to key ethical business topics – personal data protection, tax, bribery and corruption, and lobbying and political engagement – were found in the public domain. This includes ensuring ethical business conduct throughout its operations and in its relationships with business partners.