Cushman & Wakefield releases its 2021 Environmental, Social and Governance Report

Leading Real Estate Services Company Highlights Progress Toward Net Zero Emissions, Diversity Metrics and More in Report

Chicago – August 10, 2022 – Cushman & Wakefield (NYSE: CWK), one of the world’s leading real estate services companies, today released its 2021 Environmental, Social and Governance (ESG) Report, which covers efforts and progress of the company in key ESG areas for fiscal year 2021 and highlights how people at the company are demonstrating its aim to have an impact.

Cushman & Wakefield envisions a world of healthy, sustainable buildings that puts the well-being of people and the planet first. The company aims to take bold steps to advance ESG within its operations and for its customers, the commercial real estate industry and society.
“This report highlights the many ways in which we strive to continuously improve our contribution in meaningful ways to a sustainable future,” said CEO John Forrester. “Not only is it our responsibility to aim to have the most positive impact possible on our many stakeholders and on the world, but it is also part of our purpose as an organization and a passion that our employees share globally. Additionally, we believe there is an incredible opportunity to create outsized shareholder value as our clients consider their ESG impact and how they can reduce their environmental footprint.

Here are some of the company’s recent ESG highlights:

Environmental impact

  • Adjust ambitious science-based targets to achieve net zero by 2050 on value chain emissions (scopes 1, 2 and 3)
  • Between 2019 and 2021 achieved:
    • 8.6% absolute reduction and 13% reduction per million square feet of Scope 1 and 2 emissions (market-based)
    • Measurement of the relevant scope 3 categories
  • Formed a Global Sustainability Task Force drive sustainability initiatives across the company

Social impact

  • Obtained recognition from Human Rights Campaign, Forbes and Bloomberg to advance diversity, equity and inclusion (DEI)
  • Continued to focus on creating a more gender equal workplace, with women representing 40% of its global workforce, 42% of new hires, 42% people managers and 22% frames
  • 45% of employees in the United States said they were racially/ethnicly different
  • Spent $580M with over 3,100 diverse suppliers in North America, an increase of more than 30% in spending compared to 2020

Impact on governance

  • 92% of employees have completed Code of Business Conduct Training
  • Continued to focus on increasing DEI at all levels of the organization, including the Board of Directors which is 40% women and 30% racial/ethnic diversity

This year the report has been renamed from the Corporate Social Responsibility (CSR) report to reflect an increased focus on measurable actions and strategies, underlining its values ​​with metrics that allow the company to track progress and navigate the way forward.

For example, Cushman & Wakefield is among the first group of companies to have its net zero emissions goal endorsed by the Science Based Targets (SBTi) initiative (learn more). The report details the company’s progress toward near-term goals that aim to put it on a path to net zero emissions across its entire value chain by 2050, an area in which the company has a significant impact given that the built environment accounts for approximately 40% of the world’s greenhouse gas emissions.

Cushman & Wakefield has also expanded its reporting on diversity metrics, including the racial/ethnic diversity of its U.S. workforce and board of directors, increasing the transparency of its data and taking company responsible for future disclosure. This update follows the appointment of the firm’s Director of Diversity, Equity and Inclusion at the end of 2020.

The 2021 ESG Report serves as communication on Cushman & Wakefield’s progress for the United Nations Global Compact (UNGC), the world’s largest sustainability initiative, and demonstrates the company’s commitment to six Sustainable Development Goals United Nations. Since 2018, the firm has aligned its strategies and operations with the ten principles of the UNGC in the areas of human rights, labor, environment and anti-corruption.

The report is prepared in accordance with the GRI Standards: Core Option and contains the disclosures recommended in the Real Estate Services Standards which have been developed by the Sustainability Accounting Standards Board (SASB).

Download Cushman & Wakefield’s 2021 ESG Report.

Helen D. Jessen