Real estate giant Cushman & Wakefield is being sued by a former employee who says the global firm failed to protect workers’ savings from the risks of climate change.
The case is the first to allege that retirement fund administrators violated federal law by ignoring financial risk from the global uptick in planet-warming emissions. The lawsuit also marks a new escalation in climate litigation, a field that has largely been composed of cities and states suing the fossil fuel industry for the costs of dealing with rising tides and warming temperatures.
The lawsuit could have ramifications for major pension holders: The court filing noted that Cushman & Wakefield’s plan as of December 2024 had approximately $1.7 billion in assets and 23,448 participants.
Filed Tuesday in federal court in Washington state on behalf of Renee Kvek, the former employee, the lawsuit seeks national class action certification for current or former Cushman & Wakefield workers.
