Colliers International

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Carbon per FTE (full-time-equivalent employee) — the diagnostic measure for people-leveraged businesses where headcount, not capital, drives delivery. Captures the office, energy and travel footprint per person.

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Colliers will seek greater renewable energy sources moving forward, through retail contracts, green leases and power purchase agreements. In 2022, 15,078 GJ of electricity was purchased from renewable sources explicitly, contributing to 1,763.5 tCO2e of Scope 2 reductions via Renewable Energy Credits. Net Zero Innovation Working Group is piloting electrification and renewable energy capabilities.

The net-zero-by-2030 commitment allows the use of high-quality carbon offsets to address any emissions not physically eliminated by the target date. Focus is on reducing physical emissions first; analysis indicates that even relying entirely on offsets to reach net zero by 2030 would not have a material financial impact given the small size of Scope 1+2 relative to the business. No durable removals (DAC/BECCS) disclosed.

• Fleet electrification (Colliers Engineering vehicles)

  Scope 1 fleet emissions rose 33.2% as the fleet grew to ~1,200 vehicles, mainly light-duty trucks in Colliers Engineering. Colliers has started to electrify its fleet and is developing a strategy regarding which vehicles can be electrified at end-of-life or lease expiry. Medium-term lever (3-4 years) tied to cost savings as EV TCO falls below ICE.

• Office energy efficiency and green leases

  Scope 1 office emissions dropped 10.9%. Colliers implemented its own Green Lease Checklist for relocations/renewals, requiring low-flow fixtures and 50% recycled content. Offices deploy LED lighting, occupancy sensors, HVAC setpoint discipline. NABERS ratings benchmarked in Australia (offices ranging 2-6 stars).

• Renewable electricity procurement for offices

  Scope 2 location-based emissions declined 6.9% and market-based 19.1%, driven by renewable energy purchases in certain countries plus drop in US grid emissions intensity. 1,763.5 tCO2e of Scope 2 reductions credited to Renewable Energy Credits in 2022.

• Fleet electrification

  Colliers will assess viability of replacing company-owned and leased vehicles with electric models as leases expire, based on capital and operating cost analysis including fuel/electricity prices, local incentives, and driving patterns. Fleet generated 4,710 tCO2e of Scope 1 in 2021.

• Office energy efficiency & green leases

  Engaging with landlords on energy-efficiency measures and standard Green Lease provisions to address Scope 1 and 2 footprints in occupied offices. Green Lease requires low-flow fixtures (60% less water), 50%+ recycled content materials, and Declare labels. Office natural gas was 5,468 tCO2e Scope 1; electricity was 14,513 tCO2e Scope 2.

• Greener workplaces & green-certified offices

  All Colliers offices are building towards green and wellness certifications (LEED, BREEAM, TOBY, WELL, BOMA BEST). 65 offices already in green-certified buildings. Created a 'Workplace Blueprint' in 2021 circulated globally. Furniture sourced with min 50% recycled content; 96% diversion rate on decommissioned furniture via CSR Eco Solutions.

• Office energy efficiency and green-certified workplaces

  46 of Colliers' offices are in green-certified buildings (LEED, BREEAM, TOBY, WELL, BOMA BEST). Going forward, green/wellness certifications will be a factor in determining office space and locations. In the Netherlands, offices collaborate with landlords to measure and limit energy consumption. Finland head office targets 7% reduction in electricity consumption by 2025.

• Sustainable workplace design, sourcing & waste diversion

  Colliers' Global Workplace and Real Estate Strategy team is reducing environmental impact through waste diversion programs, sustainable vendor partnerships, and circular/paperless office policies. Across 10 locations in the U.S., Canada, NZ and U.K., Colliers diverted 1,773 pieces (129.73 tonnes) and avoided 381.41 tonnes of emissions through sustainable furniture/material reuse programs.

• Employee commuting and mobility reduction

  In the Netherlands, staff mobility cards give access to public transport, shared vehicles, bicycles and electric scooters, reducing reliance on fossil-fuel cars. UK launched an e-bike program. Finland head office targets a 25% reduction in private parking spaces by 2025. Pandemic-driven remote-work transition further reduced commute footprint.

• Investment Management portfolio decarbonisation

  Harrison Street on a net-zero pathway with a 2025 goal to reduce carbon emissions 70% portfolio-wide. Investment Management arms (Harrison Street, Basalt, Rockwood, Versus Capital, Colliers Global Investors) integrate ESG into diligence; on-site/off-site renewables, efficiency retrofits, green certifications. 1+ million MWh of solar energy generated by IM assets.

• Client property decarbonisation (Scope 3 Use of Sold)

  More than 98% of emissions Colliers can impact are in properties managed for clients. Net Zero Innovation Working Group launched in 2022 to build a full end-to-end decarbonisation solution set for clients, piloting carbon measurement and energy efficiency technologies. Science-Based Target submitted for managed properties (Scope 3 Cat 11 'Use of Sold Products').

• Client energy & sustainability advisory services

  Expanding energy and sustainability services across six business lines (Property Management, Project Management, Investment Management, Engineering & Design, Capital Markets, Occupier Services). Partnered with Measurabl globally for ESG data management (onboarded 70 buildings in 2021); partnered with Balantia in Spain for decarbonization; Net Zero Asset Pathway in Netherlands; Harrison Street targeting 70% carbon reduction by 2025.

• Managed properties / use of sold products (Scope 3)

  Colliers anticipates that 'sold products' — emissions generated in buildings managed on behalf of property owners — will constitute a large majority of its Scope 3 emissions. Plans to establish a Science-Based Target for managed properties in 2022 and an advisory framework to enable clients to achieve net zero. Managing 2 billion sq ft, including 110 million sq ft of green-certified properties.

• Client property management — energy & emissions reductions in managed portfolio

  Colliers manages 593 million sq ft of green-certified properties and project-managed 70 million sq ft of green-certified construction in 2020. Property management teams deliver energy & water management, green building certification (LEED, BREEAM, BOMA BEST, Fitwel), and ESG reporting. Project management teams save 20% on energy consumption on average in buildings they work on.

• Investment management ESG integration (Harrison Street)

  Harrison Street, with $40B AUM, integrates ESG factors into all investment analyses across nearly decade-old ESG strategy. Every new asset evaluated for ESG risks. Ongoing utility monitoring, clean energy procurement, onsite renewables assessment, third-party building certification, and efficiency retrofits implemented across portfolio. Committed to rolling out Fitwel certification across 500+ occupied properties.