Annual water costs have been reduced by an average of 38 percent - with the program totaling more than $5 million in client savings while enhancing sustainable practices
CBRE Group, Inc. today announced that a recent pilot program has saved its Global Workplace Solutions (GWS) clients over one billion gallons of water over the past 18 months. CBRE’s GWS Global Energy & Sustainability group worked with a targeted group of eight clients across 381 sites to achieve cost savings through resource conservation. Under this pilot program, CBRE achieved an average of 38 percent savings on annual water costs, resulting in more than $5 million in total savings for its clients. Also importantly, one billion gallons of water would provide a full year of water for a community of nearly 17,500. Expanding this program going forward to even more clients and sites there is an even greater potential to reduce clients’ spending on water and enhance sustainable practices.
“CBRE manages a five billion-sq.-ft. global facilities and property portfolio on behalf of our clients,” said Peter Scarpelli, Managing Director and Global Director, Energy & Sustainability, CBRE. “We continue to seek ways to enhance our already robust energy management services and are now equally focused on water conservation as our clients are understanding the growing impact water conservation plays in meeting their sustainability and financial goals.”
It is becoming increasingly important for businesses to curb their spending on water. According to the Institute of Public Utilities at Michigan State University, the cost of water has increased at more than triple the rate of inflation (Consumer Price Index) in the U.S. Additionally, drought conditions in California and Texas have especially contributed to the rising cost of water as water companies increase prices in an attempt to control consumption.
“CBRE’s global perspective allows us to identify energy and sustainability trends and understand how those trends will impact our clients,” said Bill Concannon, CEO, Global Workplace Solutions, CBRE. “We are uniquely positioned to strategically respond to market circumstances and prepare our clients for the future.”
CBRE’s GWS Global Energy & Sustainability group provides energy and sustainability services to CBRE’s clients across all service lines and helps clients reduce their environmental impact; support the health, well-being and engagement of their employees; reduce costs; improve efficiency; enhance brand reputation; and avoid risk through energy & sustainability solutions.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.