CBRE Group, Inc. Launches Worldwide Real Green Research Challenge
Program Funds and Inspires Innovative Sustainability Solutions in Commercial Real Estate
LOS ANGELES--(BUSINESS WIRE)-- CBRE Group, Inc. (NYS: CBG) today announced the launch of the Real Green Research Challenge (RGRC), a four-year, US$1 million commitment to fund leading-edge sustainability research and innovation relating to commercial real estate. The program was unveiled today at The Climate Group's Climate Week NYC.
CBRE is accepting submissions for research proposals, with the goal of developing solutions to the industry's critical environmental challenges.
"We've seen growing market awareness of commercial buildings' impact on the environment," said Bob Sulentic, CBRE's President. "This has inspired new thinking and innovation in sustainability research. However, people with good ideas often lack financial support and access to real-time market data and insight into building construction, occupancy and management that only a global firm like CBRE can provide. Our RGRC program will help to unleash innovation by connecting ideas with funding and with CBRE's unparalleled information and people resources."
Over the next four years, CBRE will award up to US$1 million to fund independent academic research into sustainable real estate practices. Selected applicants will receive up to $250,000 for basic research and implementation, with initial funding in February 2013. In addition to monetary funds, RGRC-funded projects will have access to CBRE's global market data and resources, which can help them to commercialize their ideas.
"Commercial buildings can generate serious environmental impacts for both current and future generations. However, smart research and innovation can significantly reduce these impacts," said Mark Kenber, CEO of The Climate Group. "Therefore we support CBRE's efforts with the RGRC and applaud its commitment to bringing its resources to bear for positive environmental change."
CBRE has assembled an authoritative panel of internal and external global experts and thought-leaders to evaluate research proposals. The judges include members of academia, non-governmental organizations and industry. The types of research the RGRC program will fund include productivity studies, large-scale predictive modeling, energy efficiency technologies, data management programs, diagnostic tools, and market-wide availability.
"We are pleased to announce the creation of the industry's first dedicated funding mechanism to support substantive research for commercial real estate," said Dave Pogue, CBRE's Global Director of Sustainability and head of the global sustainability taskforce that developed the RGRC. "Through this collaborative approach, we hope to create a meaningful impact in sustainable commercial real estate practices."
About CBRE Group, Inc.
CBRE Group, Inc. (NYS: CBG) , a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2011 revenue). The company has approximately 34,000 employees (excluding affiliates) and serves real estate owners, investors, and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities, and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. To learn more, please visit www.cbre.com online.
CBRE Group, Inc.
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