The company promises to halve its CO2 emissions by 2030 with the goal of a net-zero emissions result by 2050. Net-zero means that as many greenhouse gas emissions are removed as are emitted.
The climate goals in the Paris Agreement to which the organization commits itself and all parties in the real estate chain have been approved by the scientific Science Based Targets External Link initiative (SBTi). As part of the commitment, Cushman & Wakefield has also joined the Business Ambition for 1.5ºC External Link campaign, a coalition of the United Nations and global industry leaders.
“By taking responsibility for the climate in this way, we can jointly make the world more future-proof. As far as we are concerned, our commitment to cooperation with our partners, suppliers and clients is the new normal in the sector. We can only achieve halving CO2 emissions and ultimately operating in a climate-neutral way,” says Elsbeth Quispel, Head of Real Estate Strategy & Innovation.
Beyond your own footprint
With the climate targets, Cushman & Wakefield focuses on reducing direct CO2 emissions from sources within its own organization (scope 1), indirect emissions from the generation of purchased and used electricity and heat (scope 2) and indirect CO2 emissions. by partners, suppliers and clients (scope 3) By 2030, the organization wants to halve its total greenhouse gas emissions compared to 2019, including those of property owners and users for whom the organization manages or manages the property. Before 2050, the company aims to achieve net-zero emissions in the entire chain.
“As a leading consultant, we believe it is important to set a good example ourselves and to proactively help our clients to set their own climate goals by 2025 at the latest. Only then can we make a meaningful and substantial contribution to climate protection, because no less than 70% of our own goals can only be achieved in the total value chain. 99% of the emissions for which we take responsibility come from properties that we manage and manage for property owners and property users. Making an impactful contribution to the climate means that we are committed to minimizing the carbon footprint of the entire commercial real estate market,” says Jeroen Lokerse, CEO of Cushman & Wakefield Netherlands.
Cushman & Wakefield has committed to the goals through the United Nations Race to Zero campaign and the SBT Business Ambition targeting a maximum temperature increase of 1.5°. Both initiatives use climate science frameworks to reach net-zero by 2050 in order to avoid the most catastrophic impacts of climate change.
Corporate Social Responsibility
The Climate Manifesto to which Cushman & Wakefield is voluntarily committed builds on the organization's longstanding commitment to reducing its own environmental impact throughout the real estate lifecycle, including that of partners, suppliers and customers. In 2020, the company achieved an absolute reduction of 1.1% in scope 1 and 2, an absolute reduction of 2.5% in scope 3 and a 14% reduction in total greenhouse gas emissions in scope 1 and 2 per approximately one hundred thousand square meters of office space. In the Netherlands, Cushman & Wakefield measures, monitors and reports the sustainability performance of more than two million square meters of commercial real estate via its own Cwing platform and supports funds in reporting to and continuously improving the sustainability benchmark GRESB scores, with an 18% improvement in 2019 and 13% in 2020.
