CBRE has pledged to spend $1bn (£770m) with diverse suppliers next year and to triple its support to $3bn over the next five years.
CBRE said the commitment would see it “substantially increase” its engagement and partnerships with businesses that are certified as owned by underrepresented groups, including minorities, women, veterans, LGBTQ and disabled individuals. More support will also be provided for small businesses, said the firm.
“Having a diverse supplier pool drives competition and promotes innovation through the introduction of new products, services and solutions,” said chief procurement officer Andrea Greco. “We see supplier diversity as a strategic differentiator in the marketplace.”
By reaching its diverse-spend goals, CBRE hopes to earn a seat on the Billion Dollar Roundtable, a group of 28 companies that are recognised 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,” said 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.”
To send feedback, e-mail samantha.mcclary@egi.co.uk or tweet @samanthamcclary or @estatesgazette
