Prologis aims to have zero emissions by 2040

By 2040, Prologis promises to have zero emissions. Announcing its intention today to achieve net zero emissions throughout its value chain by 2040, the world leader in logistics real estate. Additionally, the business published its yearly environmental, social, and governance (ESG) performance report.

Hamid R. Moghadam, co-founder, CEO, and chairman of Prologis, said, “Prologis is always ambitious in our sustainability efforts, and our new net zero target is no exception. “We take great pride in helping our clients achieve their sustainability goals.

Innovating strategies to reduce our business’ carbon footprint, Prologis remains a market leader.

Since 2019, the business’s scope 1 and 2 emissions have been carbon neutral. The 2040 goal contains a number of interim targets to help it get there and covers emissions under scopes 1, 2, and 3.

Prlogis – These consist of:

By 2025, there will be 1 GW of storage-aided solar production capacity. Construction that is carbon neutral by 2025

By 2030, operations will be net zero.

The business has filed a letter of commitment to the Science Based Targets initiative (SBTi) for approval about its net zero objective. Additionally, Prologis has committed to working in collaboration with top outside organizations to promote decarbonization along the whole industry value chain, including the development of sustainable building materials.

Since 2019, the business’s scope 1 and 2 emissions have been carbon neutral. The 2040 goal contains a number of interim targets to help it get there and covers emissions under scopes 1, 2, and 3.

Investments in new energy contribute to net zero progress.

Prologis closely collaborates with its clients to comprehend their environmental objectives and initi‐atives. As additional value-add services for its clients, the company has been investing in energy-related business lines, such as onsite solar and EV charging.

Currently, Prologis has 325 MW of rooftop solar and about 200 EV charging stations (as of April 2022).

According to Susan Uthayakumar, chief energy and sustainability officer at Prologis, “We are using our 1 billion square foot portfolio to good use for our clients every day.” “Prologis is collaborating with our clients to create and put into practice cutting-edge energy and environmental solutions. These steps will allow us to fulfil our promise to reach net zero ten years earlier than the Paris Agreement’s deadline.

Guiding the sector toward a more sustainable future. The corporation describes its progress toward its environmental, social, and governance goals in its ESG report for 2021–2022.

Highlights consist of:

-made history in 2018 by becoming the first logistics

REIT with a valid SBTi emissions reduction target.

-16 green bonds were issued between 2018 and 2021, and sustainability measures are tied to both its global line of credit and extra lines of credit.

-as of April 30, 2022, had a 325 MW solar generation capacity.

-57 percent of the company’s portfolio now has LED lights installed.

-13,000 individuals have received logistics training

From Prologis Community Workforce Initiative since 2018 (goal: train 25,000 people by 2025)

Achieved an 88 percent employee engagement rating (12 points above financial services sector average)

Created a separate area for ESG measures on the company’s bonus scorecard.

ESG now accounts for 10% of the bonus scorecard, a figure comparable to other essential company operations.