- Sets interim targets of 1 GW solar by 2025 and net zero for
operations by 2030
- Builds on company's leadership in green building, solar and
more
- Publishes 2021-22 ESG Report
SAN FRANCISCO, June 22, 2022 /PRNewswire/ -- Prologis (NYSE:
PLD), the global leader in logistics real estate, today announced
its commitment to achieve net zero emissions across its value chain
by 2040. The company also released its annual environmental, social
and governance (ESG) performance report.
"Prologis has always been ambitious in our sustainability
efforts, and our new net zero goal is no exception," said Prologis
Co-founder, CEO and Chairman Hamid R.
Moghadam. "We're proud of the support we're providing our
customers in achieving their sustainability goals. Prologis
continues to be an industry leader in finding innovative ways to
decarbonize our operations."
The company has been carbon neutral for its scope 1 and 2
emissions since 2019. Its 2040 goal encompasses scope 1, 2 and 3
emissions and includes several interim targets to support its
progress. These include:
- 1 GW of solar generation capacity (supported by storage) by
2025
- Carbon neutral construction by 2025
- Net zero for operations by 2030
The company has submitted a letter of commitment regarding its
net zero goal to the Science Based Targets initiative (SBTi) for
validation. In addition, Prologis has committed to partnering with
leading external groups to drive decarbonization across the
industry value chain, including sustainable building materials
innovation.
New energy investments support net
zero progress
Prologis works closely with its customers to understand their
environmental goals and programs. The company has been investing in
energy-related lines of business, including EV charging and onsite
solar, as additional value-add services for its customers. Prologis
currently has approximately 200 EV charging stations and 325 MW of
rooftop solar (as of April 2022).
"We are putting our 1 billion square foot portfolio to good use
for our customers every day," said Prologis Chief Energy and
Sustainability Officer Susan
Uthayakumar. "Prologis is working with our customers to
develop and implement advanced energy and climate solutions. These
actions will enable us to deliver on our commitment to net zero ten
years ahead of the target set by the Paris Accord."
Leading the industry toward a
cleaner future
In its 2021-22 ESG report, the company outlines its progress
toward its environmental, social and governance goals. Highlights
include:
- Became the first logistics REIT with an approved SBTi emissions
reduction target in 2018
- Issued 16 green bonds between 2018-2021, and its global line of
credit and additional lines of credit are linked to sustainability
metrics
- Achieved 325 MW of solar generation capacity as of April 30, 2022
- Installed LED lighting across 57% of the company's
portfolio
- Trained 13,000 people in logistics through the Prologis
Community Workforce Initiative since 2018 (goal: train 25,000
people by 2025)
- Achieved employee engagement score of 88% (12 points above
financial services sector average)
- Separated ESG metrics into a standalone category on the
company's bonus scorecard. ESG now represents 10% of the bonus
scorecard, a percentage similar to that of other core business
functions
- Invested $150 million in nearly
40 companies through Prologis Ventures since 2016, including those
focused on innovation in ESG and sustainability. Investments
include technology to reduce food waste in grocery delivery
systems, software to calculate GHG emissions associated with
third-party shipments, and solutions for workforce safety and
productivity
The full report and an executive summary are available at
https://prolo.gs/esg2022.
About Prologis
Prologis, Inc. is the global leader in logistics real estate
with a focus on high-barrier, high-growth markets. As of
March 31, 2022, the company owned or
had investments in, on a wholly owned basis or through
co-investment ventures, properties and development projects
expected to total approximately 1.0 billion square feet (93 million
square meters) in 19 countries. Prologis leases modern logistics
facilities to a diverse base of approximately 5,800 customers
principally across two major categories: business-to-business and
retail/online fulfillment.
Forward-Looking
Statements
The statements in this document that are not historical facts
are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on current expectations, estimates and
projections about the industry and markets in which we operate as
well as management's beliefs and assumptions. Such statements
involve uncertainties that could significantly impact our financial
results. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," and "estimates," including variations
of such words and similar expressions, are intended to identify
such forward-looking statements, which generally are not historical
in nature. All statements that address operating performance,
events or developments that we expect or anticipate will occur in
the future — including statements relating to rent and occupancy
growth, development activity, contribution and disposition
activity, general conditions in the geographic areas where we
operate, our debt, capital structure and financial position, our
ability to form new co-investment ventures and the availability of
capital in existing or new co-investment ventures — are
forward-looking statements. These statements are not guarantees of
future performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Although we believe the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our
expectations will be attained and, therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. Some of the factors that may
affect outcomes and results include, but are not limited to: (i)
national, international, regional and local economic and political
climates; (ii) changes in global financial markets, interest rates
and foreign currency exchange rates; (iii) increased or
unanticipated competition for our properties; (iv) risks associated
with acquisitions, dispositions and development of properties; (v)
maintenance of real estate investment trust status, tax structuring
and changes in income tax laws and rates; (vi) availability of
financing and capital, the levels of debt that we maintain and our
credit ratings; (vii) risks related to our investments in our
co-investment ventures, including our ability to establish new
co-investment ventures; (viii) risks of doing business
internationally, including currency risks; (ix) environmental
uncertainties, including risks of natural disasters; (x) risks
related to the current coronavirus pandemic; and (xi) those
additional factors discussed in reports filed with the Securities
and Exchange Commission by us under the heading "Risk Factors." We
undertake no duty to update any forward-looking statements
appearing in this document except as may be required by law.
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SOURCE Prologis, Inc.