Recently, the Science Based Targets (SBTi) initiative launched its Standard for Corporate Net Zero Emissions Targets, the world's first standard for establishing corporate net zero emissions targets aligned with climate science. After a meticulous analysis process, Cushman & Wakefield became part of the first group of companies to have their net zero emissions target approved by SBTi - a global body that aims to accelerate companies around the world to halve their greenhouse gas emissions before 2030 and achieve net zero emissions before 2050.
This represents an important step forward in the company's commitment to sustainability and in the journey to take bold actions for the future of the corporation and the industry. As a leader in global real estate services, Cushman & Wakefield has chosen to make a positive and significant impact on the built environment, which is responsible for approximately 40% of global greenhouse gas emissions.
For Cynthia Franco, Sustainability Consulting at Cushman & Wakefield, this step represents a recognition of the urgency to act against climate change. The latest IPCC report showed that the global temperature will only stabilize when net CO2 emissions reach zero. In addition, climate action is fundamental to the pursuit of sustainable development.
Greenhouse gas emission reduction targets
In September 2021, Cushman & Wakefield committed to greenhouse gas emission reduction targets to comply with the Paris Agreement through the Science Based Targets (SBTi) initiative. Remember the goals:
• Target 1: reduce absolute greenhouse gas emissions from offices and corporate operations by 50% by 2030
• Target 2: Engage key customers, large property owners and occupiers to join the SBTi initiative by 2025
• Target 3: through the corporate ambition for 1.5 degrees, achieve zero carbon emissions in the value chain by 2050
progress so far
Between 2019 and 2021, Cushman & Wakefield achieved:
• 8.6% absolute reduction in GHG emissions through the implementation of energy efficiency initiatives in its measured facilities and a greener electrical grid
• 13% reduction in total emissions per million square feet of office space