Commercial property manager and developer CBRE announced the launch of new interim climate goals, with new 2030 targets to reduce Scope 1 and 2 emissions by 50%, and to cut emissions per square foot from properties and facilities managed for clients – by far the largest source of CBRE’s carbon footprint – by 55%.

The new targets were announced as part of the release of the company’s Climate Transition Strategy, outlining CBRE’s approach to achieving its 2040 goal to reach net zero greenhouse gas (GHG) emissions across its operations and value chain.

CBRE also revealed that its 2040 and new 2030 targets have been validated by the Science Based Targets initiative (SBTi).

Rob Bernard, Chief Sustainability Officer at CBRE, said:

“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.”

The real estate sector is a key source of global emissions, responsible for about 40% of global greenhouse gas (GHG) emissions and 34% of global energy use. With more than 630 corporate offices, and more than 7 million square feet of managed property globally, the vast majority, 97%, or CBRE’s greenhouse gas emissions result from its business activities related to managing and developing properties for its clients, including more than 89% from properties and facilities management.

The new strategy outlines four key pathways CBRE will follow to achieve its climate goals, including maximizing resource efficiency, increasing renewable energy, electrifying operations for building systems and vehicles, and decarbonizing the supply chain.

Some of the key actions highlighted in the strategy to help decarbonize its properties and facilities management activities include helping clients to simplify renewable energy procurement, advising clients on implementing building electrification retrofits, building capabilities with suppliers to share reliable GHG emissions data, strengthening supplier sustainability requirements to emphasize GHG emissions, and helping clients to identify opportunities to improve energy efficiency.

Bernard said:

“By simplifying complexity, we are helping accelerate sustainability for ourselves, our clients and the industry at scale.”