Innovation

CBRE has taken the initiative to reduce their environmental impact and aim for sustainable real estate practices. The goal of the company is that by 2040, they can achieve a net zero carbon emissions. CBRE signed the Climate Pledge, which is a commitment to achieving net-zero carbon. They will be working to achieve this goal in order to take action against the climate crisis and help solve the challenges of decarbonizing the economy.

CBRE released a Corporate Responsibility Report, which shows the company's accomplishments as a commercial real estate industry leader in the environment. CBRE has adapted a science-based greenhouse gas reduction target. The company annually measures their greenhouse gas footprint and continuously tracks their performance against their target goals.

The person leading the charge at CBRE is the President and Chief Executive Officer Bob Sulentic. He has developed a new management program that will allow his employees to acknowledge the company’s initiatives to reduce their carbon footprint and achieve a net zero carbon emission.

In addition to this goal, they have also done many other things to better the environment. One such example is that they have given preference to certified green buildings and they use recognized green building standards for interior design and construction. They have refurbished and relocated some of their buildings to meet their goals to help the environment. They have also adopted environmental practices in the construction of their office spaces. For their clients, they develop and provide energy and sustainability advice to adopt and enhance responsible environmental policies and practices throughout their real estate holdings.

Inspiration

Sulentic has been with CBRE for 38 years and has been the President and CEO for 10 years. “As the world’s largest manager of commercial real estate, we have a special obligation to help the world address the many challenges posed by the warming planet,” he said. Sulentic has been inspired to help create change in the way his company views the world and environment. He wants to make the world a better place and has created ways that allow him to do so through his company.

As a leader in his company, Sulentic understands that getting to a net zero carbon emission is not easy. The major reason why he was inspired to come out and say that he wants his company to do so is because he wants to put a stake in the ground and by doing so, it allows for better odds of a company achieving their goal.

Employees at CBRE have been educated in what they feel needs to be done. “CBRE is really committed to understanding the environmental impact of our business operations and they actively seek ways to measure and mitigate those impacts,” said Nicole, senior lease compliance manager. CBRE has shown that a company can thrive while focusing their efforts on the environment and not just on profits.

Overall impact

CBRE’s main goal of achieving a net zero carbon emissions by 2040 is solely dedicated to improving the environment around them and by doing so, it supports of the UN's Global Goals. Along with this innovative idea, there already have been some short term and long term effects.

Some short term effects of this innovative idea include using recognized “green” building standards for design and construction, and achieving operational excellence. CBRE has relocated some buildings and even re-designed them to help the environment around them. This is their “green” standard of design and construction, and they are striving to meet this standard more and more as time goes on. CBRE “achieves world class industry certifications for company-occupied office spaces and having certified buildings for all corporate office spaces bigger than 5,000 square feet,” Lutfi said. This means that the office spaces CBRE has built for companies have gone above and beyond what is required, and this is recognized by the clients.

The main long term goal remains achieving a net zero carbon emission. However, this does not come easily. Taking steps in the right direction like designing buildings according to the “green” standard and meeting operational excellence will help them achieve this goal in the future, but it is a process and they need to trust that what they are doing is right to keep moving forward.

Business benefit

This innovation benefits the business because it allows for a beneficial impact on the environment when the company reduces their carbon footprint. This innovation also improves the company's utility and longevity. Sometimes it is an idea and other times it is a concept that keeps firms ahead of the competition and encourages innovation and productivity.

Modern business executives are aware of the benefits of innovation for expansion and growth in the current economic climate. As a result, managers and executives are able to adapt to change. Some of the key traits of innovation include automation, efficacy, and originality. These distinctive qualities contribute to a number of advantages for firms, including heavy hitter ecosystems that are being destroyed by innovation and change.

Social and environmental benefit

This innovation benefits the environment because it changes the way renewable energy is used. Over the last century, the ability to innovate has allowed the Earth to change dramatically at an unprecedented rate. Looking forward, how to maintain the resources needed to sustain the health of future generations must be considered.

In recognition of the changing Earth, there is a need to develop technology and solutions that can sustain human life and ecosystems. Innovations in renewable energy, such as solar and wind power, can provide energy needed for modern life without contributing to global warming. Both technological and social innovation will help support the world’s populations, and the ability to innovate will hopefully mitigate climate change, sustain ecosystems, and promote resilience in a changing world.

Interview

Nicole Lutfi, Senior Lease Compliance Manager

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