CBRE Releases Holistic Climate Transition Strategy to Achieve Net Zero Emissions by 2040 and Near-Term Targets for 2030

CBRE released today a holistic Climate Transition Strategy, which provides a roadmap to reach net zero greenhouse gas (GHG) emissions by 2040 across all parts of the company's business. The strategy outlines a framework for identifying and prioritizing actions to achieve near- and long-term goals validated by the Science Based Targets initiative (SBTi).

"Only a small number of global companies have reached this milestone of having both a validated net zero target and a published transition plan to get there. We developed our plan in part to show our clients and suppliers what is possible and what actions will drive progress. Their success in reducing emissions is our success. By simplifying complexity, we are helping accelerate sustainability for ourselves, our clients and the industry at scale," said Rob Bernard, chief sustainability officer, CBRE.

The Transition Strategy outlines four pathways to achieving CBRE's goals:

• Maximize resource efficiency
• Increase renewable energy
• Electrify operations for building systems and vehicles
• Decarbonize the supply chain
  
  

Each pathway includes actions CBRE will take for its own operations and in its role as the managers of client properties. Since 2019, the company has reduced absolute GHG emissions across total Scope 1, 2 and 3 emissions by 18%.

The company's new 2030 targets (from a 2019 baseline) are:

• Reducing absolute Scope 1 and 2 emissions for CBRE's own operations by 50%
• Reducing the emissions per sq. ft. from properties and facilities managed for clients by 55%
  
  

CBRE is the world's largest property manager and the largest commercial property developer in the United States. Nearly 97% of the company's total emissions are related to managing and developing properties for clients, making collaboration with clients and suppliers critical to CBRE's ability to meet its targets.

The Transition Strategy builds on CBRE's work to position its business to transition to a low carbon economy. This work includes implementing financial-grade GHG emissions accounting, investing in strategic partnerships with Deepki, Emitwise and Climate X, among others, and acquiring the renewable energy advisory and brokerage group of NRG Energy.  

CBRE's Climate Transition Strategy is publicly available here.