Commercial, Energy Efficiency, GHG Emissions - July 26, 2022
Cushman & Wakefield Net Zero Target Approved by SBTi
Cushman & Wakefield, a global real estate services firm, announced that its science-based target to reach net zero GHG emissions across its entire value chain by 2050 has been approved by the Science Based Targets initiative (SBTi).
The firm is among the first group of companies to have its net zero target approved through the SBTi’s recently launched Net-Zero Corporate Standard, the world's first framework for corporate net zero target setting in line with climate science.
In September 2021, Cushman & Wakefield announced ambitious, near-term science-based targets approved by the SBTi to reduce Scope 1 and 2 GHG emissions across its corporate offices and operations 50% by 2030 from a 2019 base year and engage clients representing 70% of Scope 3 emissions at the firm’s managed properties to set science-based targets by 2025.
“We are pleased to have received the SBTi’s approval of our net zero target, indicating another important progression of our longstanding commitment to sustainability and our journey to reduce our own and our clients’ environmental footprint,” said Cushman & Wakefield CEO John Forrester in a statement. “As a leader in global real estate services, we choose to make a significant and positive impact on the built environment, which accounts for approximately 40% of GHG emissions globally.”
In accordance with the SBTi Net-Zero Standard, Cushman & Wakefield has set a long-term target to reduce its absolute Scope 1, 2 and 3 GHG emissions 90% by 2050 from a 2019 base year.