Prologis Reaffirms Commitment to Long-Term Climate Action in Tenth Annual Sustainability Report
SAN FRANCISCO, June 2, 2017 /PRNewswire/ – Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today announced the release of its annual sustainability report.
The report documents the company's activities in the three dimensions of sustainability: environmental stewardship, social responsibility and corporate governance and ethics.
"We stand with other sovereign nations and Fortune 500 companies to address climate change and the real threat it presents to global economies and future generations," said Hamid Moghadam, chairman & CEO, Prologis. "As part of a global community transitioning to clean energy, we are committed to a more sustainable future that ensures the free flow of goods and bolsters economic opportunity. From the buildings we operate to our organizational DNA, environmental stewardship has always been an important part of our business strategy. We will continue to work toward a cleaner, more sustainable future for all."
Highlights from the report include:
- Meeting and exceeding our corporate greenhouse gas emission reduction goal of 20 percent by 2020 from a 2011 baseline
- Certification of 54 projects totaling 17 million square feet (MSF) of sustainable buildings in 2016, bringing the company's total sustainable building certifications to 87 MSF across 233 projects in 16 countries
- Solar installations in the company's footprint increased by 18 megawatts (MW) to 165 MW in nine countries
- Efficient lighting in 78 percent of the company's operating portfolio, up from 73 percent in 2015
- Extended ISO 14001 environmental management system certification from Europe to the U.S.
- Donations from Prologis and the Prologis Foundation totaling $1.6 million to local nonprofits More than 10,400 employee volunteer hours benefiting organizations in the areas of education, human welfare and the environment
- 82 months of rent-free distribution center space donated to 12 nonprofits through Prologis' Space for Good program
Corporate Governance and Ethics
- Prologis named REIT industry's corporate governance leader for the 14th year in a row by Green Street Advisors
- Finalist for the best proxy statement at the ninth annual Corporate Secretary Corporate Governance Awards
- Adopted proxy access as a corporate governance best practice
- Amended our outperformance plan to make its performance hurdles even more rigorous and further align management and shareholders' interests
"I am proud to report that 2016 was another year of significant sustainability accomplishments, both in terms of the progress we made toward our sustainability goals and the continued engagement with our stakeholders," said Jeannie Renne-Malone, vice president, Sustainability. "I am humbled by and grateful for the terrific work and dedication of my colleagues at Prologis, who work tirelessly to minimize our impacts and engage in our communities."
The report, which has been externally assured, follows the Global Reporting Initiative (GRI) framework. It was developed in accordance with the GRI G4 Sustainability Reporting Guidelines and the Construction and Real Estate Sector Supplement (CRESS) in accordance with the Core option.
The complete report is available online at http://prolo.gs/susr2016.
Prologis, Inc. is the global leader in industrial real estate. As of September 30, 2015, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 671 million square feet (62 million square meters) in 21 countries. The company leases modern distribution facilities to more than 5,200 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.
The statements in this release 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 Prologis operates, management’s beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis’ financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” 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 and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt 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 climates, (ii) changes in 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 (“REIT”) status and tax structuring, (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 and funds, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by Prologis under the heading “Risk Factors.” Prologis undertakes no duty to update any forward-looking statements appearing in this release.