Sustainability Matters in Commercial Real Estate
Cushman & Wakefield is committed to a sustainable future, achieving a balance between environmental, technological, economic and social objectives. In an effort to deepen our understanding, Cushman & Wakefield also engages with environmental advocates. Listening to the voices representing environmental issues permits us to form a more robust and meaningful environmental strategy.
Here at Cushman & Wakefield we believe that property should be sustainable.
Read: 20 things you need to know about sustainability and property.
What is sustainability?
Sustainability is about meeting the needs of the present without compromising the ability to future generations to meet their own needs.
Sustainability is a complicated topic. And while most of us are generally familiar with the term, the details may be less transparent.
Read: We have created a list of terms and definitions we think are of particular importance when it comes to sustainability and commercial real estate.
What are the three pillars of sustainability?
ESG stands for Environmental, Social and Governance standards, Material topics in each of the ESG pillars and operational/ business approach to ESG varies by business, company, stakeholder group compositions and values.
- Environmental factors include the contribution a company or government makes to climate change through greenhouse gas emissions, along with waste management and energy efficiency. Given renewed efforts to combat global warming, cutting emissions and decarbonizing is become more important.
- Social includes human rights, labor standards in the supply chain, any exposure to illegal child labor, and more routine issues such as adherence to workplace health and safety. A social score also rises if a company is well integrated with its local community and therefore has a ‘social license’ to operate with consent.
- Governance of a corporation refers to the rules, processes, laws, guidelines and guiderails that inform a company’s operations and controls. Corporate governance takes into account the decision-making authorities, rights and impacts on various stakeholders including a board of directors, shareholders, management and employees.
How do we approach sustainability?
With 53,000 people around the world, Cushman & Wakefield makes a significant impact on employees, clients, shareholders, communities and the environment. Corporate social responsibility is embedded in our firm’s practices and strategic vision for the future.
Read: Our Corporate Social Responsibility initiatives.
How are we committed to a sustainable future?
We’re taking bold action for the future of real estate.
Cushman & Wakefield has had our emissions reduction targets and net zero commitment approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the goals of the Paris Agreement.
Our Science Based Targets and Net Zero Commitment
- Target #1: Reduce absolute scope 1 and 2 greenhouse gas (GHG) emissions across our corporate offices and operations 50% by 2030 from a 2019 base year
- Target #2: Engage key clients, some of the world’s largest real estate owners and occupiers, representing 70% of emissions at our managed properties (scope 3) to set science-based targets by 2025
- Target #3: Reach net zero value chain emissions (scopes 1, 2 and 3) by 2050
Join us on our net zero journey by learning more about our sustainability services.