Cushman & Wakefield releases 2022 Environmental, Social and Governance Report
Leading global commercial real estate firm highlights progress toward sustainability targets, diversity metrics and more
HONG KONG SAR - Media OutReach - 18 September 2023 - Cushman & Wakefield (NYSE: CWK), a leading global commercial real estate services firm, today released its 2022 Environmental, Social and Governance (ESG) Report.
The ESG Report covers the firm's global impact and progress across key ESG areas during 2022, and progress on targets for the years to come as the firm helps shape a more sustainable, inclusive future for commercial real estate.
Cushman & Wakefield views ESG as a key priority for the business and works to take bold action to advance ESG within its operations and for its clients around the world. The firm prioritizes responsible corporate citizenship, reducing its environmental impact and creating an inclusive workplace for all, while enabling clients to do the same.
"Through our work, we aim to deliver real estate services with the highest standards of environmental care and social responsibility to drive purposeful change for our business and clients," said Cushman & Wakefield CEO Michelle MacKay. "Around the world, many of our clients are looking to us to help achieve their own ESG goals. Our size, scale and balance of strategic and technical capabilities make us well-suited to integrate ESG within the property lifecycle for our own firm and to help our clients do the same. Cushman & Wakefield's 2022 ESG Report shows the firm's meaningful progress in achieving our goals."
Some of the firm's recent ESG highlights include:
ENVIRONMENTAL
- Recognized among the first group of companies to have a net zero commitment validated by the Science Based Targets initiative (SBTi).
- Observed a 33% reduction in Scope 1 and 2 (market-based) GHG emissions since our 2019 baseline.
- Observed a 51% reduction in total Scope 1 and 2 (market-based) GHG emissions per million square feet of office space in 2022 as compared to 2021.
- Sourced 48% of Cushman & Wakefield's electricity for its operations from renewable[1] sources in 2022.
- Named an ENERGY STAR® Partner of the Year for 11th consecutive year in 2023.
- Provided energy and sustainability services to more than 38,750 buildings totaling approximately 930 million square feet (msf) of space globally.
- Launched new Global Sustainability Learning course to provide our people with an overview of sustainability and why it is important to Cushman & Wakefield.
SOCIAL
- Spent $802.4 million with more than 3,600 diverse suppliers[2] in 2022 in North America, a 38% increase from the previous year.
- Women at Cushman & Wakefield
- New Hires: 41% women
- Executives: 41% women
- People Managers: 43% women
- Board of Directors: 44% women as of the publication date of the 2022 ESG Report
- 45% of U.S. employees are racially/ethnically diverse[3]
- Named 2023 Forbes America's Best Employers For Diversity
- Named 2023 Military Friendly® Employer in the U.S.
- Named 2022 Best Place to Work for LGBTQ Equality, Human Rights Campaign
- In 2022, more than 30,000 eligible employees completed two required DEI education courses, resulting in an 85% completion rate and more than 62,000 hours of DEI education.
- Produced more than 2,100 reports and thought leadership pieces, including insights on sustainability, workplace experience, logistics and more.
GOVERNANCE
- Added ESG oversight responsibilities to the Nominating and Corporate Governance and Audit Committees of the Board of Directors.
- Named International Ethics Standards (IES) Coalition, Business Supporter
- Confirmed 92% of employees completed our annual Code of Business Conduct Training.
The report is prepared in accordance with the Global Reporting Initiative's (GRI) revised Universal Standards, which guide the development of the content and data provided therein. The report also contains disclosures recommended in the Real Estate Services standards that were developed by the Sustainability Accounting Standards Board (SASB).
Download Cushman & Wakefield's 2022 ESG Report.
[1] C&W's acquisition of renewable energy in 2022 consisted of unbundled EACs (Energy Attribute Certificates) in the U.S., as well as the procurement of renewable energy via utility providers in some of our offices.
[2] A business that is at least 51% owned and operated by a historically underrepresented or underserved individual or group qualifies as a diverse supplier.
[2] A business that is at least 51% owned and operated by a historically underrepresented or underserved individual or group qualifies as a diverse supplier.
[3] Racially/ Ethnically diverse is defined as U.S. employees who identify their race/ ethnicity as American Indian or Alaska Native, Asian, Black or African American, Hispanic or Latino, Native Hawaiian or Pacific Islander, or Two or More Races
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About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2022, the firm reported global revenue of US$10.1 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit