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OUR COMPANY AFFILIATES

CBRE GROUP

CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2019 revenues of $23.9 billion and more than 100,000 employees (excluding affiliate offices). CBRE has been included in the Fortune 500 since 2008, ranking #128 in 2020. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.

INVESTMENT SERVICES

CBRE Global Investors, combined with CBRE Clarion Securities and CBRE Caledon, is one of the world’s leading real asset investment managers with $109.6 billion in assets under management.

Built up over more than 40 years, our unparalleled platform is focused on real assets, giving our institutional clients access to real estate and infrastructure in the Americas, Europe and Asia Pacific. Our clients benefit from a complete range of investment solutions including equity and debt, direct and indirect, and listed and unlisted strategies.

Trammell Crow Company, founded in Dallas, Texas in 1948, is one of the nation’s oldest and most prolific developers of, and investors in, commercial real estate.The CBRE Global Investors and Trammell Crow Company platforms make up the Real Estate Investments division of CBRE Group.

The Real Estate Investments division is led by
Mike Lafitte, Global CEO, Real Estate Investments.

BLOGS

Regularly released content on the state of the real estate and infrastructure industry are produced by our subject matter experts and shared on their blogs. A selection of them can be found below.

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REALIZING SUSTAINABILITY IN EVERY DIMENSION

We commit to leading the transition to a sustainable, net zero carbon, resilient, equitable and healthy society. Recognizing that this can be achieved only as a collaborative effort, we encourage our partners to join us in delivering this ambition together.

CLIMATE

We commit to respecting the environment and managing climate-related risks and opportunities. We will do this by delivering net zero carbon performance and climate resiliency in our portfolios and operations.

 

PEOPLE

We commit to improving social well-being by providing amenities and services to enhance the well-being of people who use our assets, our employees and the wider community, and by championing diversity and equality.

INFLUENCE

Where we do not have direct control over these factors, we commit to positively influence our stakeholder groups on employing best practices. We will engage and inspire those we work with to embrace sustainability and effect positive change.

 

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CBRE Group has made a strong commitment to be an industry leader in sustainability. We are proud to be in 3BL Media’s 100 Best Corporate Citizens for 2020 and #13 in the Barron’s list of the most sustainable companies in the U.S. for 2020. Committed to diversity and inclusion, CBRE has pledge to spend $1 billion with diverse suppliers in 2021 and to grow this spend to $3 billion in five years.

As the investment management division, CBRE Global Investors has both the responsibility and opportunity to contribute to the sustainability of the environment, the well-being of people and to positively influence our operating partners, occupiers, supply chain and industry. Our Sustainability Vision recognizes that Environmental, Social and Governance (ESG) factors are fundamental to our business and to driving long-term out-performance in the real assets portfolios we manage.

Our Sustainability Vision, which has ambitious targets for the next two decades, is the product of extensive engagement with our stakeholders, including many of our clients and our employees who are deeply passionate about sustainability. We have also created a detailed measurement system so that we can establish precise strategies for each of our investment programs and measure our progress. As a guiding principle, we have set out to use recognized industry measures whenever possible.

Undoubtedly, climate change is one of the most significant challenges facing our society. Reducing carbon emissions is a key objective both for the assets we manage and our own operations. For our direct portfolios where we have control, we are committing to deliver net zero carbon performance by 2040. For our CBRE Global Investors’ offices, we are committing to achieve net zero carbon by 2030. This will involve progressively improving the energy efficiency of our assets and sourcing green energy supplies. We will strive to make assets under our management future-proofed as we transition to a green economy.

More acutely, the Covid-19 pandemic has highlighted the inextricable links between human and economic health on every level. This crisis is accelerating structural changes that were already underway and will have profound implications for the built environment. Through our investor-operator capabilities, we aim to be at the forefront of making positive contributions to social well-being in our assets and the people they support through the services and amenities we provide.

In addition, we are in the midst of another seismic change in the global conversation, focusing on inequalities in our societies, ranging from racial and gender injustice to economic impacts. We recognize that the real assets industry lags other industries in addressing these issues, and we are committed to be at the forefront of embedding diversity and inclusion in our operations and impact investing efforts.

Apart from our own operations and the direct investments where we have control, we are also committed to using our influence with our operating partners, companies and funds in which we invest, tenants, and supply chain, as well as industry counterparts in general. I am delighted to report that this commitment to ESG engagement with companies was recognized by Global Real Estate Sustainability Benchmark (GRESB) in announcing our listed securities strategy as Investor Member of the Year, North America (2019).

At CBRE Global Investors, we are dedicated to deliver sustainable real asset solutions so our investors and people thrive. We have developed our Sustainability Vision and, together with our investors and partners, intend to follow it through by integrating ESG, including diversity and inclusion, in our culture, investment programs and day-to-day operations.

“Environmental, Social and Governance factors are fundamental to our business and to driving long-term outperformance”
SUSTAINABILITY VISION

We commit to leading the transition to a sustainable, net zero carbon, resilient, equitable and healthy society. Recognizing that this can be achieved only as a collaborative effort, we encourage our partners to join us in delivering this ambition together.

The targets and actions to achieve our Sustainability Vision are distilled from ESG factors. In particular, we are focused on the following aspects:

Climate: We commit to respecting the environment and managing climate-related risks and opportunities. We will do this by delivering net zero carbon performance and climate resiliency in our portfolios and operations.

People: We commit to improving social well-being by providing amenities and services to enhance the well-being of people who use our assets, our employees and the wider community, and by championing diversity and equality.

Influence: Where we do not have direct control over these factors, we commit to positively influence our stakeholder groups on employing best practices. We will engage and inspire those we work with to embrace sustainability and effect positive change.

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SUSTAINABILITY & CBRE GLOBAL INVESTORS
At CBRE Global Investors, our commitment to sustainability has long been at the heart of both our investment programs and our own operations. For more than a decade, CBRE Global Investors has actively supported and engaged with critical sustainability initiatives. Since becoming a signatory to Principles for Responsible Investment (PRI) and piloting a new framework for GRESB in 2009, our ambitions, commitment and practices have continued to grow and evolve at pace with the developments in the ESG field.
2007

UN Global Compact

CBRE Group joins the special initiative of the UN Secretary-General.

2009

UN Principles for Responsible Investment

CBRE Global Investors signs UN Principles for Responsible Investment.

Global Real Estate Sustainability Benchmark

CBRE Global Investors joins Global Real Estate Sustainability Benchmark.

2012

Institutional Investors Group on Climate Change

One of the founding members of the Institutional Investors Group on Climate Change.

2013

Policy Adopted

CBRE Global Investors launches Global Green Team and adopt Sustainability Policy.

2017

Global Responsible Investment Management Committee

CBRE Global Investors establishes the Global Responsible Investment Management Committee and adopts a policy with a broadened scope.

2018

Task Force on Climate-related Financial Disclosures

CBRE Global Investors commits to Task Force on Climate-related Financial Disclosures (TCFD) reporting.

Tailored ESG Strategies

Pooled Funds develop and implement tailored ESG Strategies.

2019

The Investor Agenda

CBRE Global Investors supports The Investor Agenda.

Global Impact Investors Network

CBRE Global Investors joins the Global Impact Investors Network.

CBRE Global Investors supports UNEP Finance Initiative.

2020

Sustainability Vision

Launch of CBRE Global Investors Sustainability Vision.

Coalition for Climate Resilient Investment

CBRE Global Investors joins the Coalition for Climate Resilient Investment.

CBRE Global Investors offsets its unavoidable emissions through World Land Trust’s Carbon Balanced project in Vietnam. The project protects Khe Nuoc Trong, one of the best remaining examples of Annamite Lowland Forest, for the rich array of wildlife that call it home, including the red-shanked douc langur.

Photos provided by
World Land Trust
Credit: Viet Nature

SUSTAINABILITY LEADERSHIP
Accountability

Our Global Chief Executive Officer, Chuck Leitner, and the Executive Committee (ExCo) have the ultimate oversight and responsibility for all ESG issues. Our Global Chief Investment Officer (CIO) – Real Assets, Jeremy Plummer, is responsible for ESG in our investments while our Global Chief Operating Officer (COO), Andrew Glanzman, is responsible for ESG in our operations. Together they work closely with our Global Head of ESG, Aleksandra Njagulj, to ensure we deliver on our Sustainability Vision.

Strategic Direction: Global ESG Council

CBRE Global Investors has had a team responsible for overseeing ESG-related issues since 2013. Since 2017, global, regional and business-line Responsible Investment Management Committees (RIMCos) delivered strategic direction and implementation of ESG practices throughout the business. These teams have been replaced by one Global ESG Council, which provides strategic direction for investment and operational sustainability and ensures integration of ESG principles and criteria into all aspects of CBRE Global Investors’ business.
The Council is comprised of members of the leadership team and representatives from all regions and key functional groups.

Ultimately, achieving our Sustainability Vision will rely on all our employees and stakeholders continuing to embed sustainable practices in their everyday work and life, this is an inherent responsibility of us all.

ALIGNING OUR SUSTAINABILITY VISION TO THE UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS

When developing our Sustainability Vision, a key consideration was to assess what our stakeholders find most important so that we could focus on high-impact areas. To help define what is most material for our business, we referenced the UN Sustainable Development Goals (SDGs) as a starting point. While all 17 SDGs are globally significant, we selected nine as the most material to us as a real asset investment manager. We fully embedded the SDGs in our Sustainability Vision and the tools for its delivery, including materiality assessments, maturity matrices, key performance indicators and reporting. By incorporating SDGs in this way, we can conduct impact assessments aligned with the UN Build Back Better and the B Impact Assessment frameworks, increase awareness, and better monitor and evaluate our progress.

Our analysis is built on existing frameworks, including the UN Environment Programme Finance Initiative’s Positive Impact Real Estate Investment Framework, the EU taxonomy for sustainable activities, GRESB, and resources from the UN Global Compact and green building certifications to identify our industry’s possible actions and opportunities in addressing the SDGs. We then assessed each activity to determine its feasibility, difficulty of implementation, scalability, significance, and consequence of inaction as it applies to either our corporate operations or our real assets investments. The resulting operational and investment matrices that follow allow us to focus our efforts further and ensure the consistency of our Sustainability Vision as it applies to sustainable development.

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SDGs FOR OUR INVESTMENTS

For our investments, the most material goals reflect our unwavering commitment to lead the transition to a resilient and net zero carbon society and to manage climate-change-related risks and opportunities. SDG 7: Clean and Affordable Energy and the overarching world’s goal, SDG 13: Climate Action, are our two critical SDGs.

SDG 11: Sustainable Cities and Communities embody the fundamental principles of social sustainability impacted by real assets. Through our investments, providing an efficient and well-managed built environment, we will make a meaningful contribution to these goals.

SDGs FOR OUR OPERATIONS

In our operations, SDG 17: Partnership for the Goals is one of our most significant opportunities. As a global company with a major presence within the real assets investment sector and part of the larger CBRE platform, we can lead an open dialogue and collaborate to advance sustainable development. We will build on our comprehensive existing engagements with coalitions, researchers and working groups around the world and seek to expand into other new partnerships.

SDG 10: Reduced Inequalities and SDG 3: Health and Well-Being reflect our commitment to the well-being of our employees, and engaging our value chain, from diversity and inclusion to providing a healthy and sustainable workplace.

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SUSTAINABILITY PATHWAY

The achievement of our Sustainability Vision requires a carefully laid out pathway, with clear and measurable milestones along the way. At a corporate or portfolio level, achieving the ultimate goal requires continuous effort and performance improvements, always building on a solid foundation of comprehensive risk management, compliance and assessment procedures.

We have developed a proprietary ESG maturity matrix, aligned with PAS 7340 (principles of sustainable finance in financial services), that defines four levels of performance requirements for both our investments and operations. We use this framework to assess the current performance, set ambitions for the medium- and long-term and a pathway to achieve them.

The key performance indicators to measure success align with key globally recognized sustainability frameworks such as SDGs, GRESB, B Impact Assessment and green building certifications, lending an additional layer of oversight and third-party verification. This bespoke framework for investments provides structure while being adaptable to the ambitions of different investors and different types of portfolios and assets, as well as to changes in portfolios, markets, regulations and external standards. The operations maturity matrix and pathway enable clear communication of ambition and progress towards the targets, and transparency to internal and external stakeholders.

SUSTAINABILITY OBJECTIVES