Real estate advisory group CBRE has expanded its ability to accelerate sustainability for occupier and investor clients globally by acquiring Singapore-based specialist sustainability consulting firm Paia Consulting.

Founded in 2002, the consulting firm focuses on providing clients with sustainability strategy, implementation and reporting services in Singapore and across the Southeast Asian region. The firm has worked with well over 100 Singapore Exchange-listed firms.

Following the acquisition, the firm’s professionals will integrate with CBRE’s existing environmental, social and governance (ESG) consulting and sustainability services team in Singapore, which is the hub for CBRE’s sustainability services across the Asia-Pacific region.

David Fogarty, who has led CBRE’s ESG consulting and sustainability services in Asia since 2022, will integrate the expanded team. The combined team will offer an expanded suite of solutions, services and training programmes for clients across industries and sectors.

Paia’s leadership will assume key roles at CBRE. Carrie Johnson, who founded Paia in 2002, will serve as lead consultant. Corrado Forcellati, who has been Paia’s managing director since joining in 2021, has been appointed as director of client sustainability strategy and solutions.

“This acquisition will have an impact across the Asia-Pacific region,” says Anshuman Magazine, CBRE’s advisory division president for 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.”