CBRE Expands Sustainability Advisory Business with Acquisition of Paia Consulting

On August 1, global real estate services company CBRE has declared its acquisition of Paia Consulting, a sustainability advice company with headquarters in Singapore. CBRE is trying to grow its sustainability advice business in the Asia Pacific area, hence this calculated action is part of their agenda.

Founded by Carrie Johnson, Paia Consulting offers to CBRE over two decades of knowledge in environmental challenges, reporting, and sustainability strategy. Joined by Corrado Forcellati, Paia’s managing director since 2021, Johnson—who will be the lead consultant in the combined company—is joined Director of client sustainability strategy and solutions will be Forcellati, who has been crucial in enabling businesses all throughout Singapore and Southeast Asia include sustainability into their operations.

Paia Consulting will be changed going forward as Paia from CBRE. The current employees will be included into the environmental, social, and governance (ESG) consulting and sustainability services unit of CBRE. Oversaw the enlarged Paia from CBRE team by David Fogarty, who has been leading CBRE’s ESG Consulting and Sustainability Services unit in Asia since 2022.

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Managing director of CBRE Singapore, Moray Armstrong underlined that combining Paia’s strengths will help CBRE to be leading in ESG advice services both in Singapore and around the Asia Pacific area. Reporting, training, compliance, benchmarking, and the development and implementation of ESG plans will only a few of the wide spectrum of services the enlarged staff will provide.

The advisory division president of CBRE for India, Southeast Asia, Middle East, and Africa, Anshuman Magazine, emphasised the wider ramifications of this purchase for the APAC area. Key forces driving organisations to create and use strong sustainability plans, he said, include growing knowledge and interest in sustainability among businesses together with changing rules.

This purchase coincides with an increasing corporate need for sustainability knowledge at this period. Keppel appointed former Paia Consulting lead consultant Bennett Wong as its corporate sustainability senior manager in August 2023. Wong has now relocated to RMS, a professional services company.

The value of sustainability advice services was underlined even more in June when United Overseas Bank and Enterprise Singapore started a program for SMEs. Developed in association with numerous companies, including Paia Consulting, CDP, Convene ESG, M1, PwC Singapore, and TÜV SÜD, this effort is based on Paia Consulting’s acquisition by CBRE illustrates the rising importance of sustainability in the real estate and more general corporate sectors. With businesses giving ESG issues top priority, CBRE is positioned to satisfy this demand and propel constructive change in the built environment all throughout Asia Pacific.

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