• CBRE doubles its sustainability advisory resources in APAC by acquiring Paia Consulting.
• The integration strengthens CBRE’s ESG offerings across industries and sectors, providing clients with localized and comprehensive sustainability solutions.
• Paia’s leadership joins CBRE, bringing continuity and expertise to drive sustainability strategies for global and local clients.

CBRE has significantly bolstered its sustainability advisory capabilities in the Asia Pacific (APAC) region by acquiring Paia Consulting, a specialist sustainability consulting firm based in Singapore. This strategic acquisition doubles CBRE’s resources in the region, positioning the company to better serve occupier and investor clients with enhanced ESG (Environmental, Social, and Governance) solutions.

Anshuman Magazine, CBRE Advisory Division President, India, Southeast Asia, Middle East, and Africa, emphasized the regional impact: “This acquisition will have an impact across the APAC region. 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.”

Founded in 2002, Paia Consulting has built a strong reputation for providing sustainability strategy, implementation, and reporting services, particularly for Singapore Exchange-listed companies. With over 100 listed firms as clients, Paia Consulting has played a pivotal role in advancing sustainability in the region.

Following the acquisition, Paia Consulting’s professionals will merge with CBRE’s existing ESG Consulting & Sustainability Services team in Singapore, further solidifying CBRE’s position as a leader in sustainability services in APAC. David Fogarty, who has led CBRE’s ESG Consulting & Sustainability Services in Asia since 2022, will oversee the integration of the teams. He highlighted the expanded capabilities: “The combined team will offer an expanded suite of solutions, services, and training programmes for clients across industries and sectors.”

Moray Armstrong, Managing Director of CBRE Singapore, noted the significance of the acquisition in enhancing CBRE’s service offerings: “We are focused on expanding the range of services and solutions we can deliver to global and local clients to help them navigate complexity in this business environment. With the introduction of Paia’s capabilities, CBRE will be at the forefront of ESG advisory in Singapore and across Asia Pacific. Our professionals will be partnering with clients on reporting, training, compliance, benchmarking, developing and executing ESG plans. CBRE will positively impact the built environment.”

Paia Consulting’s leadership will assume critical roles within CBRE, ensuring the continuity of the high standards clients have come to expect. Carrie Johnson, Paia Consulting’s founder, will take on the role of Lead Consultant, while Corrado Forcellati, Paia’s Managing Director, will become Director of Client Sustainability Strategy & Solutions at CBRE.

Mr. Forcellati expressed optimism about the future: “This is a great opportunity for both teams to come together and leverage each other’s strengths to fulfil 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. We are excited to be able to offer integrated solutions to challenging sustainability issues, with a tailored, localised approach.”

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He further emphasized the values that will continue to guide their work: “How we engage with each other and our clients, bringing care, curiosity, feedback, collaboration, and dedication – these are the things everyone is familiar with and have come to rely on through the years. These are aligned with CBRE’s way of working.”

This acquisition marks a significant step forward for CBRE as it strengthens its commitment to sustainability, helping clients navigate the complex and evolving landscape of ESG requirements across the Asia Pacific region.