CBRE Expands Climate Risk Assessment Capabilities with Climate X Agreement, Enabling Enhanced Actionable Sustainability Insights

Rhea-AI Summary

CBRE has entered into an agreement with Climate X to expand its climate risk assessment capabilities. This partnership will provide comprehensive climate risk data to property investors and occupiers, enhancing sustainability planning, reporting, and decision-making processes. The agreement aims to simplify the complexities of climate risk scenarios, helping clients evaluate locations and identify potential threats. Climate X's platform will allow CBRE to calculate local hazard risks and CapEx requirements, aiding in ROI-driven adaptation and resilience strategies. CBRE emphasizes its commitment to supporting clients in their decarbonization efforts amid rising global temperatures.

Positive

• CBRE expands capabilities with Climate X to enhance climate risk assessment.
• Partnership aims to simplify complex climate risk scenarios for clients.
• Agreement helps clients evaluate threats and calculate CapEx requirements for sustainability.
• Climate X's platform enables ROI-driven solutions for climate impact mitigation.
• CBRE supports clients in decarbonization strategies at global and asset levels.

Negative

• No immediate financial impact or revenue gains mentioned from the agreement.
• Potential high costs for clients in implementing recommendations from climate risk assessments.
• Increased focus on climate risk may divert resources from other business areas.

DALLAS--(BUSINESS WIRE)-- CBRE Group, Inc. (NYSE:CBRE) today announced expanded capabilities to provide comprehensive climate risk data for property investors and occupiers to accelerate their sustainability planning, reporting and decision making.

The company has entered into an agreement with Climate X, a risk analysis platform, to enable CBRE’s sustainability specialists to translate climate risk scenarios and hazards into easy-to-understand information that helps clients evaluate locations and pinpoint potential threats from climate risks.

“Companies are operating in a world of increasing climate risks while also trying to advance their efforts to reduce emissions across their portfolios. This challenge will become more daunting as global temperatures continue to rise. We are simplifying complexity for our clients through a transparent, end-to-end approach to climate risk assessments and decarbonization strategies at a global and asset level,” said Rob Bernard, CBRE’s chief sustainability officer.

Climate X’s platform facilitates the calculation of risk from local hazards, such as coastal flooding, drought, extreme heat, landslides, storms and wildfires. It also enables CBRE to help clients to calculate CapEx requirements and return on investment for retrofits and acquisitions that increase adaptation and resilience.

“Climate change is redefining how and where companies operate. With Climate X’s cutting-edge data analytics, CBRE is poised to deliver best-in-class solutions that empower clients to take an ROI-driven approach to mitigate climate impacts across every stage of the asset lifecycle,” said Lukky Ahmed, CEO & Co-Founder at Climate X.

As CBRE seeks to simplify the complexity of sustainability, the company will continue to expand its focus on climate risk and its potential impact on clients’ portfolios locally and globally.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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. Please visit our website at www.cbre.com. We routinely post important information on our website, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included in the Investor Relations section of our website at https://ir.cbre.com. Accordingly, investors should monitor such portion of our website, in addition to following our press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240613455796/en/

Sara Johnston

+1 303 264 1912

Sara.Johnston@cbre.com

Source: CBRE Group, Inc.

FAQ

What is the significance of CBRE's agreement with Climate X?

The agreement enhances CBRE's capabilities in climate risk assessment, aiding clients in sustainability planning and decision-making.

How will Climate X's platform benefit CBRE's clients?

Climate X's platform will help clients evaluate climate risks, calculate CapEx requirements, and develop ROI-driven adaptation strategies.

What specific climate risks does Climate X's platform assess?

The platform assesses risks from coastal flooding, drought, extreme heat, landslides, storms, and wildfires.

How does the partnership with Climate X align with CBRE's sustainability goals?

The partnership supports CBRE's efforts to simplify climate risk assessments and develop decarbonization strategies for clients.

What potential impact does the agreement with Climate X have on CBRE's business?

The agreement enhances CBRE's service offerings in sustainability, potentially attracting more clients focused on climate resilience.