Colliers International, a leading diversified professional services and investment management company, is recognized for its strong market presence and service offerings in the commercial real estate (CRE) sector. As a prominent player in a sector with significant environmental and social impact, Colliers demonstrates a commitment to sustainability through its Environmental, Social, and Governance (ESG) initiatives. This report delves into Colliers' Business Continuity (BC) and ESG initiatives, exploring their outlook, benefits for business development and customer service, customer desires, and any utilized software, consultants, or partnerships.
While specific details regarding Colliers' BC initiatives are limited, their strong industry position suggests a likely emphasis on these areas1. In the context of the COVID-19 pandemic, Colliers provided guidance to occupiers on maintaining business continuity. This included recommendations for remote work arrangements, employee support, and communication plans2. For employees whose homes may not be conducive to remote work, Colliers suggests considering flexible workspace solutions close to residential areas2. This proactive approach highlights Colliers' commitment to supporting its clients and ensuring their operational resilience in the face of disruptions.
Colliers' ESG initiatives are guided by its strategic framework, "Elevate the Built Environment," which focuses on three core areas:
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Focus Area |
Description |
|---|---|
|
Elevate the Environment |
Minimizing environmental impacts in Colliers' own operations and through client services to elevate the health of our planet. |
|
Elevate Inclusiveness |
Increasing diversity, equity and inclusion within Colliers and across its procurement practices to foster environments that are inclusive and engaged. |
|
Elevate Health & Wellbeing |
Promoting health & wellbeing in Colliers' operations and through client services to help improve lives. |
This framework was developed based on stakeholder engagement and reflects Colliers' commitment to "doing what's right." 3 Colliers is committed to setting a science-based target through the Science Based Targets initiative's (SBTi) Business Ambition for 1.5°C program. They aim to achieve Net Zero for their own operations by 2030. The company will also develop and deliver a Net Zero program to assist building owners, investors, and occupiers in reducing or eliminating their building-related emissions. Colliers' commitment to ESG is further demonstrated through its annual reporting in alignment with GRI, SASB, and TCFD frameworks, ensuring strong and transparent governance of its environmental and social initiatives.
Beyond these core areas, Colliers demonstrates its commitment to environmental and social causes through various initiatives. These include adopting 1.5 million honeybees to support pollination, supporting the development of a new community housing project in Manila, Philippines, and donating furniture to displaced Ukrainian refugees1. Colliers is also "walking the talk" by implementing sustainable practices in its own offices, occupying best-in-class real estate that prioritizes energy efficiency, wellbeing, and inclusiveness4.
It's important to clarify that while Colliers aims to reduce Scope 3 emissions by 51.6% by 2030, this does not equate to achieving Net Zero across all emission scopes5.
Furthermore, Colliers recognizes the correlation between green buildings and higher tenant retention rates, further strengthening the business case for environmental sustainability in the CRE sector6.
While specific case studies related to Colliers' ESG initiatives were not found in the available information, it's worth noting that the company actively promotes ESG considerations in its services and operations. For example, Colliers encourages its clients to amplify retailer initiatives when promoting ESG practices, as consumers place greater importance on the actions of the retailer as opposed to the property. This suggests that Colliers is actively integrating ESG factors into its client engagements and advising them on best practices.
Colliers' ESG initiatives contribute to business development and customer service by enhancing the company's reputation and improving client relationships3. By prioritizing sustainability, Colliers aligns itself with the growing demand for environmentally and socially responsible business practices, which can be a key differentiator in the market7.
Colliers also leverages technology to improve customer service and drive business development. The company has invested in a range of digital tools designed to enhance client engagement, enabling professionals to connect with clients and prospects online, virtually, or remotely8.
While specific data on customer desires for BC initiatives in the CRE sector is limited, the available research suggests that customers are increasingly demanding ESG initiatives7. Investors are seeking properties that embody sustainable practices, contribute positively to communities, and are managed with high governance standards9. Tenants are also prioritizing environmentally conscious buildings and workplaces that promote health and wellbeing7.
This growing focus on ESG in the CRE sector is driven by a convergence of financial performance and sustainability performance10. Increased awareness of climate change and social issues, investor pressure, and regulatory requirements are all contributing to this trend. Customers are becoming more aware of the impact of their choices and are seeking to align themselves with businesses that demonstrate a commitment to sustainability.
Colliers utilizes its in-house expertise to develop and integrate strategic plans that drive ESG performance11. They provide tailored solutions that mitigate risk and create value for their clients, helping them achieve their objectives11. Colliers also has a consulting team that provides ad hoc services to long-term project support with dedicated on-site resources, depending on the client need12.
Colliers' ESG initiatives contribute to its success by enhancing its reputation, attracting talent, and strengthening client relationships3. By prioritizing sustainability, Colliers aligns itself with the growing demand for responsible business practices in the CRE sector. This strengthens its brand image and positions it as a leader in the industry.
Colliers maintains an optimistic outlook for the future of the commercial real estate industry. They anticipate continued growth driven by trends such as the renaissance of the workplace, evolving experiential retail, the merger of AI and logistics, autonomous transportation, and advancements in construction methods13. This suggests that Colliers sees sustainability as an integral part of its future success.
Colliers International is actively integrating ESG considerations into its operations and services. While specific details on BC initiatives are limited, the company's response to the COVID-19 pandemic demonstrates its commitment to operational resilience and client support. Colliers' ESG strategy, "Elevate the Built Environment," guides its efforts to minimize environmental impact, promote inclusiveness, and enhance health and wellbeing. By prioritizing sustainability, Colliers aligns itself with the growing demand for responsible business practices in the CRE sector, enhancing its reputation, attracting talent, and strengthening client relationships.
However, it's important to acknowledge the challenges and opportunities associated with implementing these initiatives in the CRE sector. Measuring ESG performance and the need for standardized reporting frameworks remain key areas for improvement. Colliers has the potential to leverage its ESG expertise to further differentiate itself in the market and attract new clients. As the importance of ESG continues to grow, Colliers is well-positioned to drive further success and contribute to a more sustainable built environment.