US real estate and investment firm CBRE has acquired a Singapore-based sustainability specialist to bolster its ESG capabilities.
CBRE has acquired Paia Consulting, a Singapore-based specialist in sustainability-related consulting, according to a statement.
Founded in 2002, Paia Consulting focuses on providing clients with sustainability strategy, implementation and reporting services in Singapore and across Southeast Asia. The firm has worked with over 100 Singapore-listed companies.
Team Integration
Following the acquisition, professionals at Paia Consulting professionals will integrate with CBRE’s existing ESG (environmental, social and governance) consulting & sustainability services team in Singapore – the real estate firm's sustainability services hub across APAC.
David Fogarty, who has led CBRE’s ESG consulting & sustainability services in Asia since 2022, will integrate the expanded team which will offer an expanded suite of solutions, services, and training programs for clients across industries and sectors.
Personnel Changes
In addition, Paia Consulting’s leadership will assume key roles at CBRE. Founder Carrie Johnson will serve as lead consultant while managing director Corrado Forcellati has been appointed as director, client sustainability strategy & solutions.
«This acquisition will have an impact across the APAC region,» commented Anshuman Magazine, CBRE advisory division president, India, Southeast Asia, Middle East, and Africa.
«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.»
