CBRE Group, Inc. today announced a pledge to spend $1 billion with diverse suppliers in 2021 and to grow this spend to $3 billion in five years.
By achieving these goals, CBRE will substantially increase its engagement and partnerships with businesses that are certified as owned by underrepresented groups, including minorities, women, veterans, LGBTQ and disabled individuals. The company is also committed to increasing support for small businesses.
“Having a diverse supplier pool drives competition and promotes innovation through the introduction of new products, services and solutions," says Andrea Greco, CBRE’s Chief Procurement Officer. “We see supplier diversity as a strategic differentiator in the marketplace.”
CBRE’s supply chain function manages one of the largest third-party spends in the commercial real estate industry through hundreds of professionals on four continents. By reaching its diverse-spend goals, CBRE aspires to earn a seat on the prestigious Billion Dollar Roundtable (BDR), a group that now consists of just 28 companies that are recognized leaders in the area of supplier diversity. Members of the BDR use their large-scale purchasing power and procurement practices to influence suppliers and drive positive outcomes for local communities around the world.
“Supplier diversity allows us to make an even greater contribution to the long-term economic stability of our communities,” says Tim Dismond, CBRE’s Chief Diversity Officer. “Our commitment will directly benefit underrepresented businesses and in turn, those businesses will elevate the people and areas where they are located by creating sustainable jobs and tax revenue.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated 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 filings and public conference calls and webcasts.
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