Colliers announced a reduction of its carbon emissions per square foot by 3.17%.
The diversified real estate professional services firm achieved a global 27.6% reduction in Scope 1 and 2 emissions per square foot from its 2021 baseline. It also achieved a 39.6% reduction in Scope 1 and 2 emissions per square foot in Asia Pacific from a 2021 baseline.
The company announced the expansion its fleet of electric vehicles by nearly 85% since last year.
Colliers announced its Scope 2 emissions are predominantly from purchased electricity, with a small amount of district heating in certain European cities. The carbon intensity of its purchased electricity varies hugely across geographies, leading the focus to renewable energy purchases in higher-carbon grids.
As released in its 2024 Global Sustainability Report, purchases of over 13,491 MWh of renewable electricity, approximately 33% of Colliers’ total global consumption, have been key to making reductions in this area, with further expansion of such purchases to support its goals. Newer offices, such as the EMEA headquarters in London, are also far more energy-efficient than their predecessors.
Colliers’ purchases of renewable electricity (bundled green power and renewable energy certificates) in select markets with carbon intensive grids have helped drastically lower its market-based Scope 2 emissions. The company has increased renewable electricity purchases from approximately 66 MWh in 2021 to nearly 13,500 MWh in 2024, representing roughly 33% of its global consumption.
With Scope 2 emissions comprising 60% of the 2021 baseline emissions, and 99% of these coming from electricity purchases, Colliers said it can achieve 89% of its Scope 1 and 2 science based targets through the procurement of zero-emission power.
In 2024, the company procured roughly 1,000 MWh of renewable power via direct contracts with electric utilities primarily in Europe. Renewable energy certificates (RECs) are also an important part of its mix.
“Our latest global sustainability report underscores our unwavering commitment to our ESG goals — prioritizing people, governance, and environmental sustainability. By integrating compliant strategies, sustainable asset investments, and inclusive leadership practices, we continue to drive meaningful change. As we embrace technological advancements, we are committed to harnessing AI and pioneering technologies responsibly, integrating policies that drive ethical innovation, improved efficiency, and ascending growth,” said Badal Yagnik, Chief Executive Officer, Colliers India, in a statement.