Commercial real estate services and investment firm CBRE announced today the acquisition of Singapore-based sustainability advisory firm Paia Consulting, with the transaction aimed at significantly expanding CRBE’s sustainability offerings for occupier and investor clients.

Founded in 2002, Paia provides advisory services aimed at helping companies assess ESG risks and opportunities, and implement sustainable solutions, with a focus on sustainability strategy, implementation and reporting in in Singapore and across the Southeast Asian region.

Corrado Forcellati, Paia Consulting’s Managing Director, said:

“This is a great opportunity for both teams to come together and leverage each other’s strengths to fulfil our shared aspiration to be an end-to-end service provider for clients. Going forward, clients, whether in real estate or beyond, can look forward to enhanced thought leadership, tools, and solutions – delivered by a bigger team of colleagues possessing more diverse skill sets.”

According to Moray Armstrong, Managing Director, CBRE Singapore, the acquisition comes as CBRE aims to expand its range of ESG services and solutions offered to clients. Moray added that the company is expanding into areas including ESG training, green finance advisory, regulatory reporting and carbon reporting.

Moray said:

“With the introduction of Paia’s capabilities, CBRE will be at the forefront of ESG advisory in Singapore and across Asia.”

Paia’s professionals will integrate with CBRE’s existing ESG Consulting & Sustainability Services team in Singapore following the acquisition, with the new combined team adopting the name “Paia from CBRE.” Paia’s leadership will assume key roles in the integrated team, with Paia founder Carrie Johnson serving as Lead Consultant, and Forcellati as Director, Client Sustainability Strategy & Solutions.

Anshuman Magazine, CBRE Advisory Division President, India, Southeast Asia, Middle East, and Africa, said:

“The greater level of awareness and interest in sustainability is rising among businesses, and increasing regulations will provide an impetus for them to build sustainability strategies and to demonstrate progress on their implementation. The combined team’s work will likely spread across our network of offices, as well as our clients’ multi-national operations – giving clients access to best practices across geographies.”