CBRE Korea Enhances ESG Initiatives with WELL Certification for Health and Well-being

- CBRE Korea Office Achieves Gold Level WELL Certification, Third in South Korea
- Pioneers Establishment of ESG Solutions Team Among Domestic Commercial Real Estate Advisors

August 12, 2024 (Seoul) – CBRE Korea, the world's largest commercial real estate services company, announces that its office has achieved the Gold level in WELL Certification, one of the leading international certifications that assesses the health and well-being of buildings and spaces.

WELL certification, developed by the International WELL Building Institute(IWBI), is one of the leading global ESG certifications that assesses buildings and spaces based on factors that can improve the health and well-being of people. It consists of 10 categories that affect health and well-being, and quantitatively assesses not only physical factors such as air, light, sound, and materials, but also the psychological satisfaction and stability of those who use the space, such as community, spatial layout and movement, and the mental health of people.

The CBRE Korea office stands as the third entity in South Korea to attain WELL certification and marks a pioneering achievement as the first certified leased space within a building exceeding 20 years in age. Spearheaded by CBRE Korea's Project Management and Workplace Strategy(WPS) teams, the office underwent a comprehensive transformation in 2019 into the 'Workplace 360 Office.' This initiative prioritized sustainable design and construction, integrating diverse workspace enhancement solutions to foster a healthier and more productive environment. In addition to the sustainable design, which includes eco-friendly materials and energy conservation, the office also features an activity-based working(ABW) environment that allows employees to freely choose their workspace and provides mental care, including psychological counselling.

CBRE's legacy in WELL certification began with its Los Angeles office, the world's first to be certified in 2013. In 2023, the firm was honored as the WELL Enterprise Provider of the Year. CBRE's global team, comprising over 600 ESG experts, has facilitated WELL certification for approximately 1.95 million square meters of space, including client properties.

Jimmy Park, Director of CBRE Korea's ESG Solutions Team, remarked, "The WELL certification of CBRE Korea's office underscores our unwavering commitment to prioritizing employee health and well-being. This achievement reflects our capability in sustainable practices, and we are poised to leverage this expertise to enhance the sustainability value for our clients."

Don Lim, CEO of CBRE Korea, added, "ESG initiatives have transitioned from optional to imperative business priorities. Investment in sustainability is now a critical factor in enhancing the value of commercial real estate assets. CBRE Korea will continue to elevate our and clients' ESG initiatives through landmark achievements such as this WELL certification. As the first commercial real estate advisory firm in South Korea to establish a ESG Solutions Team, we are committed to leading the industry in sustainable practices."