SHARING the RESPONSIBILITY - CORPORATE RESPONSIBILITY REPORT - Better Buildings Partnership
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2017 SHARING the RESPONSIBILITY CORPORATE RESPONSIBILITY REPORT
HOME | CONTENTS
A LETTER FROM BOB SULENTIC
CONTENTS
CBRE creates A LETTER FROM BOB SULENTIC..................................................................... 3
SHARED ADVANTAGE 01 OUR COMPANY 3
About CBRE.................................................................................................. 7
through an integrated Operations.................................................................................................... 7 5
Governance.................................................................................................. 9
program of environmental
Material Topics............................................................................................. 12 7
and social actions that Stakeholder Engagement............................................................................ 13
SDGs............................................................................................................ 14 11
generate sustained growth Awards | Honors.......................................................................................... 15
and continuous opportunity Memberships | Initiatives............................................................................ 15 19
02 SHARED ADVANTAGE
for both the company and Definition & Our Commitments................................................................... 19 43
the communities it serves. 03 WHO WE ARE 61
People & Culture.......................................................................................... 23
Communities & Giving................................................................................. 31 69
04 HOW WE OPERATE
Ethics & Compliance..................................................................................... 39 81
Health & Safety............................................................................................ 47
VIDEO Environmental Sustainability....................................................................... 51 89
( 70 sec.) Procurement................................................................................................. 59
99
05 ABOUT THIS REPORT
Report Overview........................................................................................... 66 109
GRI Content Index........................................................................................ 67
UNGC Ten Principles.................................................................................... 71
Thank you in advance for considering the environment by printing only specific pages, if desired. SASB Disclosures.......................................................................................... 73
Forward-Looking Statements...................................................................... 75
1 2
CBRE | CORPORATE RESPONSIBILITY OUR COMPANY | A LETTER FROM BOB SULENTIC
ABOUT CBRE
A LETTER FROM BOB SULENTIC
[102-14]
Dear Fellow Stakeholder:
CBRE is increasingly integrating corporate responsibility sustainability a priority for our own operations, and to further drive safety results while investing in the
initiatives into our daily business practices. As a result, more than 75 percent of the space we occupy is well-being of the CBRE community.
our business solutions are creating environmental, social sustainably certified. Finally, reflecting our commitment to Shared Advantage,
and governance (ESG) benefits for our company and
We are also keenly focused on building a Shared we have affirmed CBRE’s support for the Ten Principles
our communities and better outcomes for our clients.
Advantage employee community that attracts, of the United Nations Global Compact (UNGC) in
Our approach is called Shared Advantage. Through it, develops and celebrates the professional success of the areas of Human Rights, Labor, Environment and
CBRE is helping to strengthen communities while every individual. Our efforts have been recognized by Anti-Corruption for the 11th consecutive year.
growing our business in socially responsible ways. both Forbes and Fortune magazines, which included There are many other ways that CBRE’s more than
In 2017, this was particularly evident in our response to CBRE among the top companies for diversity and 80,000 global professionals are creating Shared
the unprecedented natural disasters that struck the U.S., inclusion. While we have more work to do in this area, Advantage for our stakeholders. I invite you to learn
Mexico and the Caribbean. CBRE and our employees we are particularly proud of our recent progress in more about them by reading our 2017 Corporate
raised more than $540,000 through CBRE Cares to adding women to key leadership roles and to our Responsibility Report.
help our employees who were directly affected and to Board of Directors. We also continue to drive the
aid in disaster relief and local rebuilding efforts. growth of our employee network groups, which play
a key role in recruiting and retaining diverse talent.
Sustainability is a major, ongoing focus of our Shared
Advantage efforts. We are forging environmentally Shared Advantage depends on our community of Robert E. Sulentic
responsible business solutions across the company – employees and the contractors who help us create President & Chief Executive Officer
from energy-saving measures at the 5.5+ billion square unmatched client outcomes. Their safety and
feet of property we manage to the green building well-being is our first priority. Our commitment to
financing we arrange to the ESG investment policies safety has helped us reduce our Total Recordable
that govern our real estate investment management Incident Rate and Lost Time Injury Rate for the third
and development services businesses. We also make year in a row, and we are implementing programs
3 4
OUR COMPANY
CBRE | CORPORATE RESPONSIBILITY OUR COMPANY | ABOUT CBRE
S H A R E D A DVA NTAG E
ABOUT CBRE
CBRE Group, Inc. is a Fortune 500 and S&P 500 company headquartered in Los Angeles. around the world (including property managed Our Asia Pacific reporting segment serves clients
We are the world’s largest commercial real estate services and investment firm, with by our affiliate offices). Commercial mortgage in approximately 20 countries. Our largest
leading global market positions in our leasing, property sales, occupier outsourcing and loan originations, including loan sale advisory, operations in Asia are located in greater China,
valuation businesses. [102-1, 102-3] totaled $46.6 billion, and loan servicing totaled India, Japan, Singapore and Thailand. The
$174.3 billion. We completed 474,300 Pacific region includes Australia and New
Our business is focused on providing services to CBRE’s position as the world’s largest commercial
appraisal and valuation assignments in 2017, Zealand. Our Asia Pacific segment accounted
both occupiers of real estate and investors in real estate services and investment firm has
including 280,825 residential valuation for 12.2% of our 2017 revenue.
real estate. For occupiers, we provide facilities occurred through organic growth and a series of
assignments in Asia Pacific, and our project Operations in our Global Investment
management, project management, transaction strategic acquisitions. We executed a highly
management contract value was $74.9 billion. Management reporting segment are conducted
(both property sales and tenant leasing) and targeted M&A strategy in 2017, closing 11
CBRE Global Investors had $103.2 billion of through our indirect wholly-owned subsidiary
consulting services, among others. For investors, acquisitions that enhanced our capabilities,
assets under management as of December 31, CBRE Global Investors, LLC and its global
we provide capital markets (property sales, including companies operating in investment
2017, and Trammell Crow Company had $6.8 affiliates, which we also refer to as CBRE Global
commercial mortgage brokerage, loan management, project management, retail
billion of development in process. Investors. CBRE Global Investors provides
origination and servicing); leasing; investment experience advisory services and occupier
management; property management; valuation; brokerage focused on major technology CBRE revenue in 2017 totaled $14.2 billion, up investment management services to pension
and development services, among others. We companies, as well as two real estate software 9% from 2016. We report our operations funds, insurance companies, sovereign wealth
provide commercial real estate services under as a service companies. There were not any through five business segments. funds, foundations, endowments and other
the “CBRE” brand name, investment significant changes to the organization’s size, The Americas is our largest reporting segment, institutional investors seeking to generate returns
management services under the “CBRE Global structure, ownership or supply chain in 2017. comprised of operations throughout the U.S. and diversification through investment
Investors” brand name and development [102-10] and Canada as well as key markets in Latin in real estate. Our Global Investment
services under the “Trammell Crow Company” America. Our Americas segment accounted for Management segment accounted for 2.7%
brand name. [102-2] OPERATIONS 55.3% of our 2017 revenue. of our 2017 revenue.
CBRE Group, Inc. is incorporated in Delaware [102-4, 102-6, 102-7] Our indirect wholly-owned subsidiary
Our Europe, Middle East and Africa (EMEA)
in the United States. Our Class A common CBRE operates in more than 450 offices and reporting segment serves clients in Trammell Crow Company, LLC and certain of
stock is traded on the New York Stock Exchange serves clients in more than 100 countries approximately 70 countries. The largest its subsidiaries provide development services,
(NYSE) under the symbol CBRE. [102-5] Please worldwide. In 2017, CBRE advised clients on operations are located in France, Germany, primarily in the United States, to users of and
see our Form 10-K for details on the entities 85,100 property sales and lease transactions Ireland, Italy, the Netherlands, Spain, investors in commercial real estate, as well
included in our financial statements; those valued at more than $337.6 billion. As of Switzerland and the United Kingdom. Our as for its own account. Our Development
same entities are also included in this report. December 31, 2017, we managed 5.5 billion EMEA segment accounted for 29.3% of Services segment accounted for 0.5% of our
[102-45] square feet of property and corporate facilities 2017 revenue. 2017 revenue.
7 8
CBRE | CORPORATE RESPONSIBILITY OUR COMPANY | ABOUT CBRE
S H A R E D A DVA NTAG E
GOVERNANCE Governance and Nominating (Governance) and
Executive Committees. The Audit, Compensation
Director Nomination Criteria
[102-24]
2015. Of the 10 members currently serving on
our Board, two directors, Beth Cobert and
Board of Directors and Governance Committees are considered
Our Governance Committee regularly reviews
Sanjay Yajnik, joined our Board in 2017. As of
[102-18] key governance committees, and each member May 2018, the average tenure of our Board is
the composition of our Board and determines
is independent under CBRE standards and 5.6 years. Two directors who served throughout
CBRE has a 10-member Board of Directors, whether the addition of directors with particular
guidelines, as well as in the case of our Audit 2017, Bradford Freeman and Frederic Malek,
nine of whom our Board deems independent, experience, skills or characteristics would make
Committee, under relevant rules of the U.S. did not stand for re-election and retired from
and the tenth who is our President and CEO, our Board more effective. When a need arises
Securities and Exchange Commission (SEC). our Board at the expiration of their current terms
Robert E. Sulentic. This level of independence to fill a vacancy, or it is determined that a
At least one member of our Board serving on at the Annual Meeting in May 2018. These
exceeds the majority standard established by director possessing particular experiences, skills
the Audit Committee is required to have the gentlemen had a combined 32 years of director
our Corporate Governance Guidelines and or characteristics would make our Board more
qualifications and skills necessary to be service to us, and we are grateful for their many
the listing standards of the New York Stock effective, our Governance Committee conducts
considered an “Audit Committee Financial years of service to CBRE.
Exchange (NYSE). targeted efforts to identify and recruit individuals
Expert” under relevant SEC rules, and it has Additional information on our director
who have the identified qualifications.
Our Board bylaws require that the Board Chair been determined that four of our five current nomination criteria, including a director skills
be an independent director. Ray Wirta served as Audit Committee members qualify as “Audit Our Board seeks directors who represent a mix
matrix, may be found beginning on p. 8 of our
Independent Chair of our Board from 2014 until Committee Financial Experts.” of backgrounds and experiences that will
2018 Proxy Statement.
our annual meeting in May 2018, at which time enhance the quality of our Board’s deliberations
One of our Board directors serves as a
Brandon Boze succeeded Mr. Wirta as the and decisions. In nominating candidates, our
Board liaison to management for corporate
Independent Chair of our Board. Our Board Board considers a diversified membership in the GENDER
responsibility matters, providing visibility to our
Chair position has been non-executive and broadest sense, including persons diverse in
Board in respect to our activities in this area, MEN 7
independent since our IPO in 2004 in experience, gender and ethnicity. Our Board
and we believe that this reflects the value that WOMEN 3
recognition of the differences between the two does not discriminate on the basis of race, color,
we and our Board places on corporate
roles. Our CEO is responsible for setting the national origin, gender, religion, disability or AGE ETHNIC
responsibility. That Board director sits on our
strategic direction and overseeing the sexual preference. When evaluating candidates, GROUP DIVERSITY
Global Corporate Responsibility Steering
0 19 2 8
day-to-day leadership and performance of the our Board considers whether potential nominees
Committee, a management-level task force
company while our Board Chair provides possess integrity, accountability, informed
that has been established to advance our
leadership to our Board and oversight and judgment, financial literacy, mature confidence
corporate responsibility goals and periodically UNDER 30 30 - 50 OVER 50 DIVERSE NON-DIVERSE
guidance to our CEO. [102-23] and high-performance standards. years old years old years old
updates our Board on the progress being made
Our Board is assisted by its committees: Audit toward those goals. Our focus on Board refreshment has resulted in
and Finance (Audit), Compensation, Corporate the addition of five new directors since October
9 10
CBRE | CORPORATE RESPONSIBILITY OUR COMPANY | ABOUT CBRE
S H A R E D A DVA NTAG E
Risk Management is regularly informed through committee chair
reports about such risks. These reports are
Costa Rica, Czech Republic, Greece, Hungary,
Korea, Mexico, Morocco, New Zealand, Oman,
MATERIAL TOPICS
[102-11] [102-44, 102-46, 102-47, 102-49]
presented at every regularly scheduled Panama, Peru, Portugal, Romania, Saudi Arabia,
CBRE’s Board of Directors actively oversees Board meeting. Slovakia, South Africa, Taiwan, Turkey, Uruguay CBRE conducted its first materiality assessment
our risk management. and Venezuela. We employed statistical in early 2015, the results from which can be
Additional information on risk management may
Our Board regularly reviews information sampling to identify a group of employees within found in our 2014 and 2015 Corporate
be found on p. 18 of our 2018 Proxy Statement.
regarding our most significant strategic, 5% of the median based on annual base salary, Responsibility Reports. In early 2017, CBRE
operational, financial and compliance risks. CEO Pay Ratio then selected the median employee from this conducted a second materiality assessment to
Our Board maintains direct oversight over our [102-38] group. We then calculated 2017 CEO pay, determine the topics that reflect our economic,
enterprise risk management process rather than which includes Mr. Sulentic’s base salary, bonus, environmental and social impacts, as well as
We believe our executive compensation those that influence the decisions of our
delegating this function to a Board or equity awards, employer-paid insurance
program must be consistent and internally stakeholders.
management committee. premiums and 401(k) match. We used the same
equitable to motivate our employees to perform
We maintain an executive risk committee methodology in calculating 2017 pay for the Our corporate responsibility team reviewed
in ways that enhance stockholder value. In 2017,
chaired by our Chief Risk Officer and consisting the ratio of CEO pay $8,621,191 to median median employee. topics included in the GRI Standards and a
of several other key senior executives responsible employee pay $57,303 was 150:1. Additional information may be found on p. 59 number of ratings and rankings assessments to
for identifying, assessing and managing our of our 2018 Proxy Statement. develop a list of 33 topics that could be
As is permitted under the SEC rules, we considered material to a business such as ours.
most significant risks. This executive risk
committee reports to the CEO. The Board
identified the median employee by examining Learn More An online survey tool was used to gather the
the annual base salary for all individuals, opinions of internal and external stakeholders
receives multiple presentations on identified Additional information on our corporate
excluding our CEO, who were employed by us on each topic.
significant risks each year. The Audit Committee governance practices can be found in our
at the end of 2017. We included all active and
also receives presentations on significant risks on 2018 Proxy Statement. Internal stakeholders were asked, with regard to
on-leave employees, whether employed on a
a regular basis. Certain risks that are each topic, if CBRE creates a significant impact
full-time, part-time or seasonal basis. We did not This includes:
determined to be best managed directly by the on the environment, society and/or economy.
make any adjustments or estimates with respect • Executive compensation details, beginning
Board versus management, or that are in areas They were also asked whether they believe CBRE
to annual base salary compensation, and we on p. 32 [102-35]
specific to a particular Board committee actively manages the topic and, if so, how
did not annualize compensation for any full-time
expertise, are monitored and overseen at the • Composition of our Board and its committees, effectively it is managed. External stakeholders
employees that were not employed by us for all
Board or committee level as appropriate. found on p. 4 and pp. 10-14 [102-22] ranked each topic based on the degree to which
of 2017. Under the di minimis exclusion, we
Although each committee is responsible for excluded a total of 4.5% of our employee • Board committee details, including number the issue affects their assessments and decisions
evaluating certain risks and overseeing the population from the following countries: of meetings held in 2017 and committee about CBRE.
management of such risks, the entire Board Argentina, Austria, Bulgaria, Chile, Colombia, responsibilities, found on pp. 18-20
11 12
CBRE | CORPORATE RESPONSIBILITY OUR COMPANY | ABOUT CBRE
S H A R E D A DVA NTAG E
All stakeholders were asked where in CBRE’s
supply chain was the issue relevant (suppliers/
STAKEHOLDER Mechanisms for Engagement
vendors, corporate operations and/or clients). ENGAGEMENT Investors & Analysts
Most topics are material within the boundaries [102-40, 102-42, 102-43] • Quarterly earnings calls
of our operational control, with some topics also We define our stakeholders to be individuals • Investor presentations, events and
being material to our suppliers and/or clients. one-on-one meetings
and organizations who can impact or be
• Response to information requests
The survey was sent to all members of CBRE’s impacted by our operations. CBRE’s
• Annual Investor Day
Global Corporate Responsibility Steering stakeholders include shareholders, clients,
• Shareholder Governance Outreach program
Committee, as well as other internal stakeholders employees, suppliers, industry associations,
who work directly on the topics included in the NGOs and academic institutions, communities, Clients
survey. The survey was also sent to more than 80 advocacy and activist groups, governmental • Client Care program
external stakeholders, including representatives organizations and regulating bodies, media • Customer satisfaction surveys
of key clients, suppliers, governments and and competitors. • Localized research resources and insights
nongovernmental associations (NGOs), as well We interact with stakeholders throughout the • Response to information requests
as industry associations, universities and research year in a number of ways, including quarterly Employees
entities. The survey results were then plotted to a earnings calls, regular customer satisfaction
• Global employee intranet and email
matrix and vetted with key stakeholders. surveys and industry events. As noted earlier, we communications
Although some topics shifted within the also engaged directly with several stakeholders • Employee engagement survey In 2015, all 193 Member States of the United
materiality matrix, there were no significant in early 2017 through the development of our • Employee Network Groups Nations adopted a plan to tackle the world’s
changes from previous reporting periods in the materiality assessment, the results of which • Performance reviews most pressing social, economic and
list of material topics and topic boundaries. helped define content for this report.
Suppliers environmental challenges. This plan includes 17
This report includes detailed information on the In 2017, we began a Shareholder Governance Sustainable Development Goals (SDGs) that
• Supplier Code of Conduct
issues that were determined to be the most Outreach program. Twice a year, our General apply universally to all nations and seek to end
• Supplier Diversity Program
material to CBRE and our stakeholders. These Counsel and Head of Investor Relations contact extreme poverty, fight inequality and injustice,
include professional integrity, anti-corruption, all of our major shareholders to discuss their Industry Associations, NGOs & and protect our planet. Businesses will play a key
diversity & inclusion and occupational health & views on our governance practices and Academic Institutions role in achieving the SDGs and CBRE is committed
safety. We plan to conduct our next materiality compensation programs. • Partnership in research studies to contributing to this effort. As a first step, we
assessment in 2018 to ensure our actions and • Participation on boards and committees have identified above the SDGs that align with
our reporting reflect our significant impacts and • Attendance at conferences and events our business. Going forward, we plan to develop
stakeholder priorities. • Speaking engagements and guest lecturing meaningful goals that align with the SDGs.
13 14
CBRE | CORPORATE RESPONSIBILITY OUR COMPANY | ABOUT CBRE
S H A R E D A DVA NTAG E
AWARDS & HONORS MEMBERSHIPS AND CBRE subscribes to and/or endorses a number
of external initiatives, including:
• Included in Fortune’s Most Admired Companies INITIATIVES • CDP
for six consecutive years
CBRE is a member of these leading organizations: • Environmental Protection Agency (EPA)
• Named a World’s Most Ethical Company by ENERGY STAR®
Ethisphere Institute for five straight years • Building Owners and Managers Association
• Greenhouse Gas (GHG) Protocol
• Named to the Dow Jones Sustainability Index (BOMA)
North America for four years in a row • International Organization for Standardization
• Building Owners and Managers Institute
(ISO) 14001
• Included in FTSE4Good for four straight years (BOMI)
• Leadership in Energy and Environmental
• Included in the 2018 Barron’s 100 Most • Business Roundtable
Design (LEED)®
Sustainable Companies • Boston College Center for Corporate
• Occupational Health and Safety Assessment
• Listed at #27 in the Forbes Just 100 2018: Citizenship (BCCCC) and its Professional
Series (OHSAS) 18001
America’s Best Corporate Citizens Services Sustainability Roundtable (PSSR)
• Principles for Responsible Investment (PRI)
• Received a 2018 EPA ENERGY STAR® • Business in the Community (BITC)
Partner of the Year – Sustained Excellence • Sustainability Accounting Standards Board
• Center for Climate and Energy Solutions’
Award, marking the 11th consecutive year of (SASB)
Business Environmental Leadership Council
ENERGY STAR recognition (C2ES BELC) • United Nations Global Compact (UNGC)
• Named to the 2018 America’s Best Employers • Global Real Estate Sustainability Benchmark • United Nations Guiding Principles on Business
for Diversity list by Forbes (GRESB) and Human Rights
• Named a 2017 Best Workplace for Diversity • Global Reporting Initiative (GRI) GOLD • WELL Building Standard (WELL)
in the United States by FORTUNE and Community [102-12]
Great Place to Work® • Green Rating Alliance
• Achieved a perfect score on the Human Rights • International Council of Shopping Centers
Campaign’s Corporate Equality Index for five (ICSC)
years in a row
• NAIOP, the Commercial Real Estate
• Earned the 2017 Military Friendly® Employer Development Association
designation; 6th consecutive year of
• Real Estate Roundtable
recognition by Victory Media for military
friendly practices • Sustainability Accounting Standards Board
(SASB) Alliance
• Named to the Companies That Care Honor
Roll for 11 straight years • U.S. Green Building Council (USGBC)
[102-13]
15 16
SHARED ADVANTAGE
CBRE | CORPORATE RESPONSIBILITY SHARED ADVANTAGE
WHO WE ARE
SHARED ADVANTAGE
Shared Advantage is a strategic commitment to creating measurable benefit for the
company, our clients and the communities we serve through socially responsible,
market-driven business solutions.
INFLUENCE CONNECTIVITY
Incorporating target objectives aligned to the Through Shared Advantage, CBRE seeks to
United Nations Sustainable Development Goals improve the well-being of all communities we
(SDGs), CBRE’s Shared Advantage establishes serve – from the micro-environment of
an ecosystem of social responsibility that employees sharing a single office space to
influences the surrounding community – occupants of a large commercial building or
creating a culture of shared interest and property complex. This sense of connectivity
collaboration in the development of integrated and collaboration extends beyond the
environmental, health & wellness and social boundaries of the building itself, influencing in
initiatives that drive economic vitality and a positive way the health and well-being of all
long-term value. our neighbors in the broader community.
OUR COMMITMENTS
Improve community health and Build sustainable & economically
well-being. thriving communities. Scroll through Shared Advantage for an animated view of how positive aspects of an office building
can expand to influence healthy outcomes in the broader community.
We pledge to build strong, equitable and We pledge to build strong, equitable and
sustainable communities including providing sustainable communities including providing SHARED ADVANTAGE begins in the The positive effects of Shared Advantage
access to healthy environments and promoting access to healthy environments and promoting occupied space, promoting a culture of health extend to the community itself, which becomes
public safety, diversity and social justice. public safety, diversity and social justice. & wellness that improves productivity through engaged in developing policies and practices
innovative space design and healthy lifestyle that incorporate social, environmental,
Reduce the impacts of climate change. LEARN MORE programming. The concept grows to embody economic, efficient mobility and healthy living
the built environment, increasing operational considerations. The result is a collaborative
We pledge to protect the environment, reduce Visit Shared Advantage to discover how CBRE and resource efficiencies and influencing model of partnership that’s born in business
greenhouse gas emissions and ensure human is creating a “win-win” for both the firm and our human behaviors, further enhancing the but which benefits the entire community.
habitats are safe, resilient and sustainable. communities through these commitments. property’s value.
19 20WHO WE ARE
CBRE | CORPORATE RESPONSIBILITY WHO WE ARE | PEOPLE & CULTURE
H OW WE O PE R ATE
PEOPLE & CULTURE
Guided by our RISE values, CBRE is focused on talent attraction, professional development,
diversity and inclusion practices – and a healthy culture where all employees feel
DIVERSITY & INCLUSION GOC Sponsorship Program
[103-1, 103-2, 103-3] Throughout 2017, each member of CBRE’s
engaged and excited to come to work for us every day.
Diversity and inclusion is material to CBRE Global Operating Committee (GOC)
sponsored at least one diverse leader, identified
RISE VALUES because people are at the center of our
strategy. We are at our best when people with through the company’s annual talent assessment
[102-16] process, who works outside the GOC member’s
different backgrounds and experiences come
We take great pride in our reputation for together to produce great results for our clients. span of control. This program provided
upholding the highest standards in the way RESPECT. We act with consideration for advocates for diverse talent within the company
others’ ideas and share information openly to The mission of our diversity and inclusion
we do business. Our commitment to our inspire trust and encourage collaboration. initiative is to provide a work environment and visibly demonstrated our senior leadership’s
business standards is a major reason why that attracts, develops and celebrates the commitment to diversity. Strong positive results
INTEGRITY. No one individual, no one deal
CBRE is the largest commercial real estate and no one client is bigger than our commitment professional success of every individual. and participant feedback led to the decision to
company in the world. Our employees to our company and what we stand for.
Diversity and inclusion is a material topic continue the initiative in 2018 and to expand
don’t just work and live by these standards; SERVICE. We approach our clients’ challenges within our own operations. both the number of mentees and the dimensions
they are the cornerstone of our RISE with enthusiasm and diligence, building of diversity on which the initiative is focused.
long-term relationships by connecting the right CBRE strives for a work environment that
corporate values. people, capital and opportunities.
EXCELLENCE. We focus relentlessly on
reflects the clients we serve, provides everyone IMPACT! Program
WORKFORCE creating winning outcomes for our clients,
employees and shareholders.
with the opportunity to succeed, values the
differences of each individual and recognizes
To advance our commitment to improving
[102-8, 405-1] gender balance at more senior levels, CBRE
their contributions to our firm’s success. We created IMPACT!, an 18-month, global
In 2017, our workforce grew to more than 80,000 employees worldwide. The following provides have great examples of gender, ethnic and executive development program that identifies,
a demographic profile of CBRE’s global workforce, excluding affiliate offices. other categories of diversity in our leadership develops, retains and launches key female
Employment Employment Management Employment and employee groups. We also recognize that leaders into senior and executive leadership
Gender Age Type & Gender Contract & Gender Positions & Gender Contract & Region our industry is lagging behind world-class role roles. A second IMPACT! cohort began in 2017
FULL-TIME REGULAR models in key areas of diversity, and this is an with 20 participants from nine countries. The
65.31 64.95 66.18 opportunity for continued improvement.
55.37 55.29 REGULAR program focuses on both individual leadership
FULL-TIME REGULAR
43.99 REGULAR
33.63 31.22 31.41 33.82 REGULAR
27.26 26.11 In 2017, we hired a new Vice President of training and group-focused learning. Each
20.34 24.38
PART-TIME PART-TIME TEMP TEMP TEMP TEMP TEMP Diversity and Inclusion for the Americas to participant is paired with an executive sponsor
2.41 1.06 1.21 1.43 .28 .62 1.74
provide vision, leadership and strategic planning who provides one-on-one coaching, supports
Female Male Under 30 30-50 Over 50 Female Male Female Male Female Male Americas EMEA APAC their internal exposure and creates opportunities
for our diversity and inclusion platform.
% EMPLOYEES for them to advance.
23 24CBRE | CORPORATE RESPONSIBILITY WHO WE ARE | PEOPLE & CULTURE
H OW WE O PE R ATE
Women on Internal Boards clear equality, diversity and inclusion criteria Our CBRE U.K. Gender Pay Gap Report Employee Network Groups
against which companies are independently includes detailed statistics and information on
In 2017, our EMEA Executive Committee A significant way that we advance workplace
assessed. The NES assessment reviewed CBRE our programs to create more opportunities for diversity is through our employee network groups,
developed a regional talent development
against 49 individual competencies focused on women to progress. which have been an important part of our
initiative to add more women to EMEA Country
key topics such as governance, culture, HR success for more than 17 years. These groups
and Service Line Boards. Eleven of our EMEA D&I Recruiting
policies and processes, business planning, offer career and professional development
countries and a majority of service lines had
inclusivity, flexible working, leadership In 2017, CBRE expanded its commitment to opportunities, connections and networking
women representing at least 30% of their Board
commitment and accountability, as well as hiring more diverse talent throughout the possibilities across all business lines and regions,
members. For countries where female
external relationships with CSR activities and the company. and community involvement opportunities. Groups
representation was less than 30%, a minimum
firm’s supply chain. Our Diversity Internship Program partners with are open to all employees, and have formed in
of one fee-earning woman was invited to join
that Board for 12 months starting in January three organizations to help us identify diverse each of the regions where we operate globally.
2017, giving them the opportunity to participate
U.K. Gender Pay Gap Reports talent: Commercial Real Estate Women AMERICAS
A new law enacted in the U.K. in 2017 requires (CREW) Network, which is focused on the
in senior leadership decision making. Fourteen • African-American Network Group
all organizations with 250 or more employees to advancement of women in commercial real • Asia Pacific Network
countries participated in the initiative in 2017,
publish and report specific figures about their estate; The Posse Foundation, which is • CBRE Military
resulting in a majority of our EMEA countries
gender pay gap. The gender pay gap measures committed to recruiting and training outstanding • Hispanic and Latin Business Resource Group
and service lines having at least 30% female
the total difference between men and women’s students from urban backgrounds; and Vadis, • LGBTQ & Allies
representation at the Board level. The initiative • Rising Professionals Organization
average pay (including bonus and reward which is dedicated to providing services to
is being continued in 2018 with the program • Women’s Network
contributions) across an organization. This is people with disabilities. The CBRE Diversity
being relaunched to focus on development and EMEA
different to equal pay, which refers to men and Scholars Program, a scholarship grant and
networking opportunities for the participants. • Women’s Network
women receiving equal pay for equal work. summer internship program for students of • LGBTA Network
National Equality Standard CBRE’s Gender Pay Gap for its U.K. businesses racial or ethnic diversity that we created in 2016, • Multicultural Network
Following a robust assessment process, CBRE (including all employing entities) is 17.35%. Our continued in 2017. • Wellbeing Network
U.K. Ltd., was awarded the National Equality gap is mainly attributable to the fact that there • Faith at Work Network
CBRE also supports the Real Estate • Veterans & Reservists
Standard (NES) in February 2018. CBRE is the are currently more men in senior roles within the Association Program (REAP), an
first property services provider to achieve this business. This profile is characteristic of the • Next Generation
industry-backed, market-driven program that • PAs Network
accolade and the 22nd U.K. company overall. wider commercial real estate sector, which, serves as a bridge between talented minority APAC
while changing, has traditionally attracted professionals and commercial real estate
The U.K. National Equality Standard was • Women’s Network
fewer women. companies looking for talent. • LGBTI
developed by business for business and sets
25 26CBRE | CORPORATE RESPONSIBILITY WHO WE ARE | PEOPLE & CULTURE
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Women’s Network TALENT MANAGEMENT LEARNING & employees globally. myLearning is where
employees can seek and find training materials to
The Women’s Network exists to promote the
success of women, and has more than 3,000
Employee Engagement DEVELOPMENT enhance and develop their skills, connecting
In 2017, we partnered with an external vendor to them to assigned and self-selected training
members. Growth, Connection and Mentorship The Global Talent, Learning and Diversity team,
launch a worldwide employee engagement content, allowing interaction with other learners
– the three guiding pillars of the Women’s through its Learning and Development teams,
survey that covered all employees. The survey across the company and providing better
Network – provide a solid foundation to enhance focuses on empowering our employees to
achieved a 54% response rate globally. Our management tracking of employee learning.
careers and promote an environment that is develop themselves and their teams, providing
overall engagement level was in the moderate In 2017, 88% of employees accessed training
collaborative and keenly focused on success. tools to drive career development and growth.
range compared with other companies. Given through myLearning. On average, CBRE learners
In November 2017, CBRE hosted its first-ever Our professionals are connected across
our aspirations for CBRE, we know that we need completed 7.9 hours of training in 2017.
simulcast for members of the Women’s Network. to work hard to improve on this. Our scores geographies, business lines and shared services
leveraging best practices, tools and content. We We have aligned our training opportunities with
The live-streaming presentation, entitiled varied by geography and business line, and they engage creative and innovative methods to four pillars of learning and development:
“A Conversation with Amy Cuddy,” was viewed highlighted some things we are doing well today
by more than 3,000 women and men at more expand beyond traditional classroom offerings Onboarding: Introducing new hires to CBRE
as well as important areas where we can and online education, using world-class learning
than 80 CBRE locations worldwide across the culture, history and the RISE values
improve. Overall, 155 actions are now being processes and platforms.
U.S., Canada, Latin America and Australia. Professional Development: Teaching skills
addressed in 7 categories across the globe.
The presentation was also recorded for viewing Progress on these actions is being tracked and At the core of our learning strategy is the view that are applicable to all lines of business
by Women's Network groups in other regions reported to senior management. We plan to that talent development happens through three Business Acumen: Developing skills specific
following the event. Social psychologist and key activities: to lines of business and job title
conduct another full survey in Q3 2018 to
bestselling author Amy Cuddy, the keynote measure year-over-year progress. Leadership: Growing skills specific to
70% ON-THE-JOB work/doing the job at hand
speaker, is an expert on the behavioral science leading people and managing a team
20% COACHING through direct feedback from
of power, presence and prejudice. Performance Management a boss, peer or mentor These pillars consist of fundamental principles for
The Women’s Network also hosted the Performance management is viewed as a ongoing professional and personal development.
10% FORMAL TRAINING to improve a skill or
inaugural Power of WE (Women Excelling) continuous activity at CBRE. We offer a number This framework ensures the delivery of valuable
increase expertise
Conference in mid-November. This exclusive, of career development and performance content that is relevant, timely and applicable to
two-day event for CBRE's senior-most women management training sessions, allowing This 70-20-10 approach includes webinars, CBRE professionals who are empowered to
and a select group of their top female clients, employees to learn more about their role in the classroom training, self-paced e-learning, choose their own career path. The pillars offer
delivered a strong blend of content-rich sessions process and how it benefits them in their career coaching, mentoring and on-the-job projects. additional guidance in selecting learning
and dynamic networking opportunities that growth. In 2017, 79% of Americas employees Our global Learning Management System (LMS) opportunities that reach beyond job-specific
deepened both the personal and professional and 54% of employees globally received a – called myLearning – is a world-class, training and help employees realize their
relationships among these industry leaders. performance review. [404-3] cloud-based learning solution available to all professional goals and aspirations.
27 28CBRE | CORPORATE RESPONSIBILITY WHO WE ARE | PEOPLE & CULTURE
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EMPLOYMENT For individuals not subject to external pay
reviews and/or benefit requirements, such as
force, including separation pay, a health care
stipend and access to outplacement services.
Total Rewards union contracts, CBRE undertakes an annual Our severance plan offers benefits to qualified
We recognize and appreciate that employee “pay for performance” review. Employees are full- and part-time employees.
total rewards are an important part of the assessed based on their performance against Total employee turnover for the past three years
employment relationship. CBRE provides established goals and rewarded accordingly. is as follows. [401-1]
competitive total rewards in all the markets in CBRE remains committed to providing eligible
which we compete for talent, including fixed and employees with meaningful, compliant and 2015 2016 2017
variable pay, and comprehensive benefits that affordable benefits. We aim to support physical 19.94% 20.93% 22.56%
complement country-specific, legislatively health, financial wealth and emotional resiliency
prescribed programs. Examples of career rewards with a variety of programs for employees at any
can be found on our U.S. Careers website. stage in their career. In 2017, CBRE added a Anti-Discrimination
Annually, we review market competitiveness of health care concierge service to assist employees CBRE is vigilant in complying with all national
all our total rewards programs and adjust our with managing their health care planning. regulations in the countries where we operate.
programs accordingly. Additionally, we actively We have established policies and practices that
balance the cost of these programs through
Employee Transitions support the company’s position on prohibiting
manager and employee education, promotion Treating our people with dignity and respect is a discrimination or harassment on the basis of
of wellness activities and a “pay for priority. When practical, we provide impacted race, color, religion, national origin, sex, sexual
performance” culture, as well as through employees advanced notice of staff reductions orientation, gender identity, pregnancy,
continuous process improvement. and significant operational changes in excess of childbirth (or related medical condition), age,
regulatory requirements. We comply with the citizenship, marital status, disability, veteran or
CBRE focuses on providing equitable notice requirements of relevant labor and military status, political belief or any other basis
opportunities to all our employees. employment laws and collective bargaining protected by applicable law.
Differentiation in compensation is driven agreements, as applicable. In instances where
relative to individual performance. However, we cannot provide advanced notice, employees Collective Bargaining
our benefit programs are, where possible, receive pay in lieu of notice, consistent with our As of December 31, 2017, approximately 1,900
consistently offered within locations to ensure severance plan. (2.4%) of our employees were subject to
that employees have the same access to collective bargaining agreements, most of whom
programs as other employees within their CBRE provides outplacement assistance as part
of the company’s transition assistance package work in properties we manage in California,
location/position. Illinois, New Jersey and New York. [102-41]
to employees who are affected by a reduction in
29 30CBRE | CORPORATE RESPONSIBILITY WHO WE ARE | COMMUNITIES & GIVING
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COMMUNITIES & GIVING
CBRE is committed to supporting and adding value to the communities where our employees campaign. The funds were first used to provide In addition, our U.K. charity partner, Shelter,
live and work around the world, as well as in communities where the need is greatest. Each direct assistance to 153 CBRE employees deployed housing advisors and a CBRE-funded
of our three regions – Americas; Europe, Middle East and Africa (EMEA); and Asia Pacific impacted by these disasters. Grants to employees resettlement worker to the local area. Finally,
(APAC) – operates independent charitable initiatives, leading their own regional programs. totaled nearly $400,000. The remaining funds CBRE made a corporate donation of £10,000
One element remains the same worldwide: our employees’ charitable spirit and enthusiasm. were donated to the American Red Cross for to the Kensington and Chelsea Foundation to
CBRE Foundation relief efforts for the disasters impacting the U.S., help support the hundreds of people impacted.
CONTRIBUTIONS & CBRE Disaster the Mexican Red Cross for earthquake relief
We began tracking employee volunteer hours
Relief Foundation efforts and Rebuilding Together for relief efforts EMEA
and a CBRE Build Day activity in Florida. This
globally in 2017. Employees volunteered 14,256 Our EMEA charity program, Building a Better
video shows how employees were impacted by
hours during business hours at charitable Future, engages each country in the region,
the disasters and how grants from by the CBRE
activities organized by CBRE. Employees also Employee committing a contribution of at least 0.5% of
Disaster Relief Foundation supported them
used their expertise to support nonprofit each country’s annual earnings before interest,
during this difficult period.
organizations with skills-based volunteering in taxes, depreciation and adjustments (EBITDA)
In the EMEA region, EMEA Disaster Relief Funds to charitable causes. The EBITDA contribution is
2017, donating 844 hours. We believe these
numbers represent just a fraction of our
Corporate donated £25,000 to provide aid during the East divided into the following three components:
employees’ volunteer activities, and we are $10,874,687 Africa Food Crisis. In the United Kingdom, after
50% is donated to local charity causes decided
working to improve our tracking systems in 2018. $2,957,080 the June 2017 Borough Market terrorist attack, by each country.
$1,295,464 CBRE made a £5,000 donation to the Borough
40% goes toward an EMEA-wide partnership
DISASTER RELIEF TOTAL: $15,127,231 Market Hardship Fund, as well as worked with
contractors to repair the damage to the Borough
program, which currently supports Plan
Acting in coordination with CBRE, the CBRE • Hurricane Harvey (Texas) International.
Market area free of charge.
Foundation and regional and local disaster relief • Hurricane Irma (Florida) 10% is added to our EMEA Disaster Relief
In response to the June 2017 Grenfell Tower fire, Funds to ensure we can respond quickly to
committees, the CBRE Disaster Relief Foundation • Hurricane Maria (Puerto Rico & Caribbean)
our Residential team worked with the Royal major humanitarian or environmental crises.
enhances employee contributions and distributes • Earthquake (Mexico City)
Borough of Kensington & Chelsea (RBKC)
funds through a network of pre-approved • Wildfires (Northern and Southern California)
partner organizations that focus on disaster relief
housing team to help find accommodations for Plan International
In response, the CBRE Disaster Relief Foundation those displaced by the fire. Our Capital Advisors In 2014, CBRE’s EMEA business entered into a
and rebuilding communities in need. made a one-time contribution of $250,000 and Building Consultancy lines of business, who partnership with international children’s charity
In 2017, CBRE responded to an unprecedented toward relief efforts. CBRE employees generously are retained by RBKC, also worked with our Plan International. In January 2017, we
five natural disasters in North America from donated more than $290,000, the most ever Hotels team to help identify local hotel owners embarked on a new project together called
August to December, including: given by our employees to a single fundraising able to offer rooms for those affected. Safer Cities. This ambitious two-year project
31 32CBRE | CORPORATE RESPONSIBILITY WHO WE ARE | COMMUNITIES & GIVING
H OW WE O PE R ATE
will help create a safer living environment for Although we have completed our fundraising partnership can be found on our U.K. website, for people in need and allows our professionals
thousands of vulnerable girls in Nairobi, Kenya. for Sierra Leone, we are continuing to work and the impact of the partnership is described in to use their leadership skills to deliver measurable
Our funds will support fundamental change with 485 of these girls to help them become this Impact Report. results in their communities. In 2017, 560 U.S.
such as making public transport safer for girls, qualified teachers. More information on Following the successful partnership with Shelter, employees volunteered nearly 4,500 hours to
improving local infrastructure and funding girls CBRE’s partnership with Plan International in December 2017, CBRE U.K. staff voted for a rebuild private residences and community
and boys support groups. With the help of our can be found here. new charity partner, Action for Children – centers. More than $253,000 was donated by
CBRE Global Workplace Solutions team in We are honored that in 2017 the CBRE and Plan an organization that helps thousands of the CBRE Foundation to support these projects.
Kenya, we are also exploring a CBRE mentoring International partnership won the Managing disadvantaged children across the U.K. In 2018 In 2017, the CBRE Foundation gave more than
program for some young people in the area. Partners’ Forum (MPF) Management Excellence and 2019, we aim to raise £500,000 for Action $340,000 to hundreds of organizations that our
In May 2017, six CBRE colleagues travelled to Awards: Best Community Engagement award. for Children to support more than 700 children employees personally supported financially
Nairobi with Plan International to learn more in the care system. through our Matching Funds Program.
about the Safer Cities project. They met some of U.K. Partnerships Since its inception in 2001, the Birthday Cakes
the young people we are aiming to help and
saw the shocking reality of living in one of the
In February 2015, CBRE U.K. staff chose Shelter AMERICAS & More for Homeless Children program has
to be our first U.K. charity partner. By the end of delivered more than 11,500 cakes, including
poorest parts of Kenya. CBRE continued to make a significant impact
the partnership in December 2017, we had 1,467 cakes delivered in 2017. Through this
across the United States through the efforts of
The Plan International partnership involves raised £1,028,524 to help people facing poor grassroots initiative, employees hand-deliver
our individual offices supporting meaningful
CBRE colleagues in more than 100 offices and housing and homelessness. This achievement personalized cakes to homeless children to help
causes in their local communities as well as four
30 countries participating in fundraising and funded Shelter advisors in nine of their Service them celebrate their birthdays.
initiatives – Shelter Program, Matching Funds
other activities. In 2017, CBRE and our Centres and helped more than 5,500 families
Program, Birthday Cakes & More for Homeless Over the past seven years, CBRE has provided
employees donated nearly €400,000 to Plan find a home.
Children and National Shoe Collection. CBRE over 110,000 pairs of shoes to people in need
International. Additionally, CBRE provides pro In addition to fundraising and volunteering, also continues to offer U.S. employees two days around the world through our National Shoe
bono support across Plan International’s global CBRE donated 275 hours of pro-bono support paid time off during the year for their Collection program. In 2017, 59 CBRE locations
real estate portfolio, adding further tangible to Shelter as part of the company’s aim to make participation in certain volunteer opportunities. collected nearly 9,500 pairs of shoes that were
value to the organisation. a long-term difference. CBRE’s team used its
Established in 2010 in partnership with national donated to Soles4Souls.
Safer Cities is an extension of the significant expertise on a range of projects across Shelter’s
housing nonprofits Rebuilding Together, Many large and small charitable activities were
work we have been doing with Plan International portfolio, identifying property savings of more
HomeAid and Habitat for Humanity, the also organized throughout the region, including
since 2014 in Sierra Leone. CBRE teams across than £3.7 million over five years. As a result of
CBRE Shelter Program continued as the flagship in Mexico and Canada, by locally engaged
EMEA raised over £1 million for Sierra Leone this partnership, CBRE won the Property and
program for CBRE Cares in the U.S. The CBRE Cares committees.
from 2014-2016, giving an education to a Construction category in the Business Charity
program is designed to improve housing options
generation of children, particularly girls. Awards in 2017. More information on the
33 34CBRE | CORPORATE RESPONSIBILITY WHO WE ARE | COMMUNITIES & GIVING
H OW WE O PE R ATE
APAC CBRE Hong Kong proudly served as lead
sponsor of the Barclays MoonTrekker for the
As the largest philanthropic event in APAC, the 5th consecutive year, raising HKD 90,000 for
10-kilometer Walk for a Wish supports CBRE’s The Nature Conservancy. 80 CBRE competitors
commitment to social responsibility by bringing from Hong Kong, Singapore and the
teams of employees, clients and vendors Netherlands participated in overnight charity
together from each business line in order to hikes (30km or 43km) across Lantau Island,
raise funds for various charitable causes in each Hong Kong, with the help of more than 20 CBRE
participating country. volunteers who stayed up all night to support
In 2017, CBRE combined the annual Walk for a their colleagues, both mentally and physically.
Wish campaign and Wellness Week, which
provided an opportunity for employees to
participate in activities that support our
environment, our communities and each other.
Wellness Week activities included fundraising,
volunteering, green, health, fitness and
educational initiatives, culminating in our eight
annual Walk for a Wish – our largest to date.
More than 2,500 employees from 22 locations
across APAC took part in more than 150
wellness activities and raised nearly $300,000
for selected causes.
Countries throughout the APAC region also
organized local charitable initiatives throughout
the year. CBRE Pacific was involved in 20
volunteer days as part of our CBRE Cares
program, with over 200 staff from New South
Wales, Victoria, Queensland and Canberra
donating their time to several charities.
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