CBRE, a global commercial real estate services company, has announced the acquisition of Singapore-based Paia Consulting. This strategic move aims to significantly enhance CBRE’s sustainability solutions for its occupier and investor clients. Paia Consulting, known for its expertise in environmental, social, and governance (ESG) risks and implementation strategies, will integrate with CBRE’s existing ESG Consulting & Sustainability Services team. The acquisition aligns with the growing demand for sustainable business practices and provides CBRE with an expanded skill set to meet these needs.
The acquisition of Paia Consulting by CBRE follows a series of similar moves by other real estate firms to bolster their ESG capabilities. Paia’s focus on sustainability reporting and strategy implementation complements CBRE’s expanding suite of services, including ESG training and green finance advisory. The integration of Paia’s team into CBRE will enable the company to offer more comprehensive and diverse sustainability solutions. The combined expertise of both teams is expected to enhance CBRE’s leadership position in the ESG advisory space.
Enhanced Services for Clients
Paia Consulting’s Managing Director, Corrado Forcellati, underscored the potential of the collaboration between the two firms.
“This is a great opportunity for both teams to come together and leverage each other’s strengths to fulfill our shared aspiration to be an end-to-end service provider for clients. Going forward, clients, whether in real estate or beyond, can look forward to enhanced thought leadership, tools, and solutions – delivered by a bigger team of colleagues possessing more diverse skill sets.”
This sentiment was echoed by Moray Armstrong, Managing Director at CBRE Singapore, who highlighted the firm’s aim to lead in ESG advisory in Singapore and Asia.
Leadership and Integration
The integration will see Paia’s professionals joining CBRE’s ESG team under the new name “Paia from CBRE.” Leadership roles will be assumed by Paia’s key figures, with founder Carrie Johnson becoming Lead Consultant and Corrado Forcellati taking on the role of Director, Client Sustainability Strategy & Solutions. Their expertise will be crucial in driving forward the combined team’s objectives and expanding CBRE’s ESG offerings.
Anshuman Magazine, President of CBRE Advisory Division for India, Southeast Asia, Middle East, and Africa, emphasized the broader implications of this acquisition.
“The greater level of awareness and interest in sustainability is rising among businesses, and increasing regulations will provide an impetus for them to build sustainability strategies and to demonstrate progress on their implementation. The combined team’s work will likely spread across our network of offices, as well as our clients’ multi-national operations – giving clients access to best practices across geographies.”
This indicates the global reach and impact the combined team will have, providing clients with consistent and effective sustainability solutions.
This acquisition represents a significant step for CBRE in becoming a leader in the ESG consultancy space. The enhanced capabilities will equip the firm to better address the evolving needs of its clients. As businesses face growing pressure to adopt sustainable practices, the expertise provided by the integrated team will be instrumental. This move also positions CBRE as a forward-thinking company committed to sustainability, which is increasingly becoming a critical factor in business operations globally.
