CBRE Group, Inc. Announces $3 Billion Commitment to Supplier Diversity
October 7, 2020
CBRE Group, Inc. today announced a pledge to spend $1 billion with diverse suppliers in 2021 and to grow this spend to $3 billion in five years.
By achieving these goals, CBRE will substantially increase its engagement and partnerships with businesses that are certified as owned by underrepresented groups, including minorities, women, veterans, LGBTQ and disabled individuals. The company is also committed to increasing support for small businesses.
“Having a diverse supplier pool drives competition and promotes innovation through the introduction of new products, services and solutions," says Andrea Greco, CBRE’s Chief Procurement Officer. “We see supplier diversity as a strategic differentiator in the marketplace.”
CBRE’s supply chain function manages one of the largest third-party spends in the commercial real estate industry through hundreds of professionals on four continents. By reaching its diverse-spend goals, CBRE aspires to earn a seat on the prestigious Billion Dollar Roundtable (BDR), a group that now consists of just 28 companies that are recognized leaders in the area of supplier diversity. Members of the BDR use their large-scale purchasing power and procurement practices to influence suppliers and drive positive outcomes for local communities around the world.
“Supplier diversity allows us to make an even greater contribution to the long-term economic stability of our communities,” says Tim Dismond, CBRE’s Chief Diversity Officer. “Our commitment will directly benefit underrepresented businesses and in turn, those businesses will elevate the people and areas where they are located by creating sustainable jobs and tax revenue.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.