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Real estate giant Cushman & Wakefield is being sued by a former employee over claims the company failed to protect its workers’ retirement savings from climate-related risk. If successful, the lawsuit could precipitate a fundamental shift in how risk is managed across the entire $12 trillion U.S. retirement market. The complaint alleges that Cushman & Wakefield failed to evaluate, monitor and remove the Westwood Quality SmallCap Fund, which exposes retirement savers to dangerous levels of climate-related financial risk while at the same time underperforming and charging unreasonably high fees. Cushman & Wakefield declined to comment.
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