2021 Environmental Social Governance (ESG) Report
SUPPLY CHAIN MANAGEMENT (102-9, 102-10) [SDGs 5, 8] Our global supply chain is comprised of thousands of suppliers and vendors of goods, services and equipment for our primarily office-based operations and for supporting our facilities and property management activities. Due to the nature of these operations, most of our procurement is performed at a local level and our supply chains are managed by teams within our major service lines of Global Occupier Services, Asset Services and C&W Services. We experienced significant growth in 2021 across all service lines. Under the leadership of our Chief Procurement Officer, the Global Procurement team responded deftly to this growth, increasing in both size and sophistication in 2021. The team updated its management strategy, adopted new systems to better manage suppliers, established a tier II reporting structure and enhanced key supplier vetting processes. We respect human rights throughout our supply chain and strive to engage with suppliers that align with our values and principles and uphold high standards of business integrity and ethical conduct. We engage with our suppliers on matters relating to social and environmental sustainability, ensuring they understand and comply with our Global Vendor/Supplier Integrity Policy, which sets out our expectations in the areas of business integrity, labor practices, health and safety, environmental management, and anti-bribery and corruption. We regularly validate that suppliers are in compliance with our Global Vendor/Supplier Integrity Policy. Supplier Diversity Cushman & Wakefield is committed to fostering a diverse supplier base through our Supplier Diversity Program. We believe our process enables us to identify innovative, efficient and timely supplier, subcontractor and teaming resources. We believe our investment in and support of diverse suppliers benefits not only our organization, but our clients’ operations and our global communities.
WHAT TO KNOW BEFORE YOU READ
What is supplier diversity? Supplier diversity is the procurement of goods and services for business, with the proactive intention of including diverse vendors. Who qualifies as a diverse supplier? A business that is at least 51% owned and operated by a traditionally underrepresented or underserved individual or group qualifies as a diverse supplier. What is tier I and tier II supplier diversity spend? > Tier I suppliers sell products directly to a buyer. The suppliers who receive direct payments from Cushman & Wakefield are tier I suppliers. > Tier II suppliers provide tier I suppliers with products or services that are sold to a buyer. Tier II suppliers receive payment from the tier I company for the products or services provided to Cushman & Wakefield. We believe a more diverse supply chain benefits everyone because it can: > Promote innovation through the introduction of new products, services and solutions. > Provide multiple channels from which to procure goods and services. > Drive competition on price and service levels among the company’s existing and prospective vendors. Who benefits from a more diverse supply chain?
> Add economic value by encouraging the growth of businesses owned by
underrepresented groups, which uplifts the communities where those businesses are located through job creation, increased wages and tax revenue. See the image on the next page for an illustration of the diverse supplier ecosystem.
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