Cushman & Wakefield Signs Sustainability Pact with EPA
6 Jan, 2009, New York, NY
Cushman & Wakefield today announced it has signed a Memorandum of Understanding (MOU) with the United States Environmental Protection Agency (EPA). Cushman & Wakefield is the first real estate services firm in the country to enter into a comprehensive MOU with EPA aimed at addressing environmental issues in the commercial real estate sector.
"This partnership with the EPA is an important step in promoting environmentally responsible business practices throughout the commercial real estate industry," said John C. Santora, President and CEO of the Americas for Cushman & Wakefield. "Cushman & Wakefield is committed to enhancing the environmental performance of its business operations and to proactively engage and support its clients on the efficient use of energy, water, and materials and reductions of greenhouse gas emissions."
Cushman & Wakefield is New York City's largest property manager (about 70 million square feet under management) and the world’s largest privately held commercial real estate services firm. Cushman & Wakefield's U.S. operation supports 64 corporate offices with 3,300 corporate employees in addition to 3,600 site-based staff who manage over 265 million square feet of commercial real estate, representing more than 3,200 properties.
In the MOU, Cushman & Wakefield recognizes the significant impact of the commercial real estate sector on the environment. Energy consumption in commercial buildings accounts for 17 percent of U.S. greenhouse gas emissions. In addition, such buildings draw significantly on fresh water resources and raw materials, and generate large amounts of waste.
The MOU sets out environmental best practices designed to enhance energy efficiency and reduce carbon footprint, promote water conservation and minimize waste within Cushman & Wakefield’s corporate offices and in properties under management. For its U.S. corporate offices, Cushman & Wakefield will consider environmental criteria in site selection for new leased space, and implement best practices in office operations.
Cushman & Wakefield will also work in partnership with its clients to enhance the environmental performance of the firm's portfolio of managed properties in the U.S. by implementing environmentally-responsible operations and maintenance practices. To this end, Cushman & Wakefield will leverage its partnerships with EPA and its experience and established track record with the U.S. Green Building Council’s (USGBC) Leadership in Energy and Environmental Design (LEED) rating system for existing buildings.
Cushman & Wakefield, an EPA ENERGY STAR partner since 1999, will join two new EPA partnership programs: WasteWise, which promotes waste reduction and resource conservation, and GreenScapes, which provides environmentally-friendly solutions for landscaping. The firm will also utilize its recently issued Green Practice Policies as a platform to engage clients in adopting sustainable approaches to pest management, construction, purchasing, cleaning, solid waste management, and control of environmental tobacco smoke. Cushman & Wakefield’s engagement in portfolio-wide strategies to green the operations and maintenance practices within properties under management is further reflected through its participation in the USGBC’s pilot Portfolio Program. Under this program, the firm is pursuing volume certification under the LEED for Existing Buildings rating systems for several properties under management.
* * *Cushman & Wakefield is the world's largest privately held commercial real estate services firm. Founded in 1917, it has 227 offices in 59 countries and more than 15,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within four primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, valuation services, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property owners, and Consulting Services, including business and real estate consulting. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com
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