Dive Brief:
- Cushman & Wakefield reduced its total scope 1 and scope 2, market-based greenhouse gas emissions in 2023 by 15% from 2022 and by 43% from its 2019 baseline, according to its 2023 Sustainability Report released Sept. 5.
- To achieve these emissions reductions, the real estate services firm said it increased its renewable energy portfolio, reduced energy use through space optimization and energy efficiency projects, took on new and more efficient leased space and collected more meaningful data to analyze and plan energy usage.
- The company has also deployed Salesforce Net Zero Cloud for scope 1 and scope 2 emissions data tracking, analysis and reporting, and observed a 52% reduction in entire value chain emissions from 2019 baselines, per the report. Cushman & Wakefield said it aims to ensure that all of its key suppliers have an ESG program in place by the end of 2025 and that 50% of its key suppliers have set a science-based emissions reduction target by the end of 2030.
Dive Insight:
Cushman & Wakefield aims to reach net-zero scope 1, scope 2 and scope 3 GHG emissions by 2050 and cut 50% of absolute scope 1 and scope 2 emissions across its corporate offices and operations by 2030, compared with its 2019 baseline, per the report.
Other sustainability targets include purchasing 100% renewable electricity for its corporate offices by 2030; electrifying its vehicle fleet globally by 2035; eliminating single-use plastics from all its offices by the end of 2025; and obtaining sustainability certifications for all of its major office construction and renovation projects, the firm said. The company also aims to implement waste reduction and recycling programs for all its offices globally by year-end and engage clients, representing 70% of emissions at its managed properties, to set their own science-based targets by 2025.
Cushman & Wakefield’s scope 1 emissions, comprising stationary combustion of fuels in office buildings leased for its company operations and combustion of transportation fuels in its vehicle fleet, decreased 11% from 2022, per the report. The company attributed the reduced energy intensity in its offices last year to its continued efforts to right-size its operations amid hybrid workplace models via its analysis of actual office usage patterns and improved data collection practices. Another key lever for its scope 1 emissions reduction is its transition to electric vehicles, Cushman & Wakefield said. “With the deployment of [SalesForce] Net Zero Cloud, our enhanced data collection capabilities will enable us to plan the EV transition to ensure the greatest impact on our scope 1 emissions,” the report says.
The company’s scope 2 emissions, including indirect purchased energy for consumption in its buildings, declined 23% in 2023. Its offices consumed roughly 339,310 gigajoules, or about 94,252 megawatt hours, of direct and purchased energy, including electricity, steam, cooling and natural gas — representing a 10.6% reduction from 2022 — and contributing “significantly” to its scope 2 emissions reduction, per the report.
Cushman and Wakefield attributed this improvement to better reporting systems, implementation of energy-efficient equipment, office consolidation that led to reduced square footage and the growth of renewables in its energy mix, including energy attribute certifications, or EACs, that represented about 19,057 megawatt hours of energy last year.
As of the end of 2023, renewables accounted for 58% of all the energy it purchased — a 20% increase from 2022, according to the report. Some of the drivers in increasing its renewable energy last year included purchasing EACs across its U.S. and international locations; and sourcing 100% of energy for its New Zealand offices from renewables through a power purchase agreement, the company said.
Its total scope 1 and scope 2, market-based office emissions per thousand square feet of office space has dropped by 68% since 2019, with office energy intensity dipping by 13% last year from 2022, according to the report.
The company said it monitors scope 3 GHG emissions across its value chain in line with the Greenhouse Gas Protocol by tracking and reporting categories that include purchased goods and services; capital goods; fuels and energy-related activities; waste generated in operations; and use of sold products and services, which accounted for 96% of its overall scope 3 emissions. In 2023, a 37% reduction in emissions from the use of sold products and services — partially attributable to the exclusion of a certain client building type from its operational boundary for the first time — drove a 36% cut in overall scope 3 emissions, or 5.3 million carbon dioxide equivalent, compared with 2022, the company said.
The primary drivers of its journey to net-zero emissions across its value chain include working to reduce the GHG emissions impact of buildings it occupies and manages through optimal energy performance; following the fit-out design outlined by leading accreditation systems like LEED and WELL; and drawing on digitalization and technology in sustainability management to ensure accuracy of information, analysis, insights and decision-making, Cushman & Wakefield said.
Cushman & Wakefield noted that 32% of its clients have set science-based targets to date, with over 4,800 new and existing suppliers having completed an ESG questionnaire it launched this year.
