Global real estate advisor, CBRE, in close collaboration with CBRE Investment Management (“CBRE IM”) has secured membership of the Aldersgate Group, a politically impartial, multi-stakeholder alliance of leading businesses and organisations championing a competitive and environmentally sustainable economy. CBRE are the first commercial real estate services and investment management firm to secure membership, which involves a rigorous application process and robust assessment. CBRE IM along with CBRE Advisory will lead on CBRE’s engagement with Aldersgate Group.

Chaired by former prime minister, Rt Hon Theresa May MP, the Aldersgate Group is a membership organisation composed of some of the largest businesses in the UK, leading NGOs, professional institutes and academic institutions. Its members, which include Macquarie, KPMG, John Lewis, UKGBC, WWF and Siemens, are recognised as leaders in sustainability, with membership limited to three corporate representatives per sector.

Membership of the Aldersgate Group underlines CBRE and CBRE IM’s over-arching commitment to sustainability as part of their business models and strategies. Last year, CBRE set out its plan to achieve net zero carbon emissions by 2040 encompassing carbon emissions from CBRE’s own operations and the properties it manages for investors and occupiers, as well as indirect supply chain emissions.

Meanwhile CBRE IM, which has $141.9 billion in assets under management, will achieve net-zero operational carbon performance by 2040 for its directly managed, long-term operational core investments. This forms a key element of CBRE IM’s Sustainability Vision, which also commits to championing diversity, equity & inclusion and the well-being of people and to influencing others to join in these ambitions.

Elements of CBRE’s application that were recognised by Aldersgate Group in securing membership included their Climate Pledge, the business ambition for 1.5C, their Climate donation of $7.25 million, and their market leading family friendly policies. CBRE were also able to demonstrate firsthand how they lead by example with the recent refurbishment of their headquarters at Henrietta House, London. With sustainability and wellness at the forefront of the design, the office has been certified BREEAM Excellent and Well Platinum.

Robbie Epsom, EMEA Head of ESG at CBRE Investment Management, said: “We are incredibly proud to become the first commercial real estate services and investment management firm to join the hugely influential Aldersgate Group. Real estate and infrastructure are among the biggest emitters of greenhouse gas emissions and the real asset industry has a vital role to play in tackling climate change. Achieving membership of the Aldersgate Group not only underscores CBRE IM’s commitment to achieve net zero but demonstrates our resolve to take a position of leadership on ESG within the industry and accelerate the transition to a sustainable economy.”

Nick Molho, Executive Director of the Aldersgate Group, said: “The property sector is critically important to the UK’s ability to build a modern, climate resilient and net zero emissions economy. The built environment is estimated to be responsible for 25% of the UK’s total greenhouse gas emissions [1], so ambitious action from business and policymakers in this area is an urgent priority to put the UK on track for its climate targets. Cutting emissions in the UK’s homes and buildings can also create a significant number of jobs around the country as existing buildings are retrofitted and new buildings are developed to the highest levels of energy efficiency and the lowest carbon footprint. I am delighted to welcome CBRE to the Aldersgate Group, their expertise across all areas of the real estate sector, their market size and clear commitment to a science-based net zero target will all be crucial assets as we continue to advocate for the rapid decarbonisation of the built environment. This is also a significant statement of intent from a major industry player that can drive significant positive change across the sector.”

[1] UKGBC, Whole Life Carbon Roadmap (2021) https://www.ukgbc.org/climate-change-2/