Cushman & Wakefield Announces Renewed Science-Based Greenhouse Gas Emissions Reduction Targets
The updated targets introduce higher emissions reduction objectives and a refined methodology for addressing the Scope 3 emissions that make up the vast majority of its value chain footprint.
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Cushman & Wakefield Operations: Reduce absolute Scope 1 and 2 GHG emissions across Cushman & Wakefield corporate offices and operations by
73.1% by 2034. This target reflects an increase in ambition following strong progress toward the firm鈥檚 original50% reduction goal that was set for 2030. -
Managed Client Properties: Reduce Scope 3 GHG emissions by
66.3% per square foot of managed area for clients by 2034. This new intensity鈥慴ased target replaces the firm鈥檚 previous Scope 3 client engagement commitment with a more robust emissions鈥慽ntensity metric aligned to the performance of properties the firm manages on its clients鈥� behalf which are within Cushman & Wakefield鈥檚 operational control boundary. - Net-Zero Value Chain: Maintain commitment to reach net鈥憐ero emissions across the entire value chain (Scopes 1, 2 and 3) by 2050 in line with the Science Based Targets initiative (SBTi) Corporate Net鈥慫ero Standard.
鈥淪ince first setting science鈥慴ased targets in 2021, we鈥檝e worked hard to reduce our own operational footprint and help clients decarbonize the buildings they own and occupy,鈥� said Jessica Francisco, Cushman & Wakefield鈥檚 Chief Sustainability Officer. 鈥淲ith these renewed targets, we are reaffirming our progress to date and our intent to go further, faster.鈥�
Cushman & Wakefield established its first near鈥憈erm, SBTi鈥慳pproved targets in September 2021 and, in July 2022, became one of the first companies to have a net鈥憐ero target approved under the SBTi鈥檚 Corporate Net鈥慫ero Standard. In the years since, the firm has continued to invest in data management improvements, renewable electricity procurement and partnering with clients to deliver shared, sustainable value. These efforts, among others, have informed the firm鈥檚 decision to commit to the next generation of targets.
The firm intends to report annually on progress toward its 2034 targets through its annual Sustainability Report, in addition to other voluntary and regulatory disclosures, as applicable. Cushman & Wakefield believes these targets are important in the global effort to mitigate the adverse impacts of climate change and will assess them as necessary, based on SBTi guidelines and the evolution of the firm鈥檚 strategy.
鈥淥ur clients are asking for data鈥慸riven pathways to net zero. By expanding our Scope 3 target from an engagement metric to an emissions intensity target, we鈥檙e aligning our services and accountability with what matters most鈥攔eal decarbonization in the built environment,鈥� said Francisco.
Learn more about sustainability at Cushman & Wakefield and read the firm鈥檚 recently published 2024 Sustainability Report .
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 nearly 400 offices and 60 countries. In 2024, the firm reported revenue of
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Source: Cushman & Wakefield
