Prologis Publishes 2020 Sustainability Report
Report documents the company's progress in environmental stewardship, social responsibility and governance (ESG) across its global platform
SAN FRANCISCO, June 3, 2021 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today released its 2020 Sustainability Report.
"Despite the unprecedented events of the past year, we remained steadfast in our commitments to meet and exceed our customers' evolving business and sustainability priorities and provide meaningful support to our colleagues and communities around the world," said Prologis chairman and CEO Hamid R. Moghadam. "We embrace the responsibilities and opportunities that arise from our scale and will continue to deploy our capabilities and resources to advance our ESG leadership."
Prologis' ESG program embodies the Prologis 3Cs, the company's strategic framework for driving success and innovation across the organization: Customer Centricity; Change Through Innovation and Operational Excellence; and Culture and Talent.
- 100 percent of new development and redevelopment projects globally will be constructed in line with sustainable building certifications.
- Installation of 108 million square feet of LED lighting, more than any prior year; company is on track to equip all properties with LED lighting by 2025.
- Installation of 40 megawatts of additional rooftop solar capacity and the debut of SolarSmart as part of Prologis Essentials, which gives customers access to onsite renewable energy options.
- Launch of digital training platform for the Community Workforce Initiative (CWI) and a certificate program with the Association of Supply Chain Management.
- $5 million for a global COVID-19 relief fund and $1 million to charities fighting racial injustice.
- $10.2 million of in-kind rent to charitable organizations, including those on the frontlines of the pandemic, through Prologis' Space for Good program.
"Our board and ESG team are actively engaged in the oversight of our programs and strengthening our ESG practices to support responsible growth. Our ESG approach is integrated into the DNA of the company and helps to define how we pursue growing business opportunities and manage risk," said Prologis chief legal officer and general counsel Edward S. Nekritz.
Visit Prologis' ESG website: http://prolo.gs/esg2020 to view and download the report. The report has been externally assured and follows Global Reporting Initiative (GRI) Standards.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2021, 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 990 million square feet (92 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,500 customers principally across two major categories: business-to-business and retail/online fulfillment.
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.
Released June 3, 2021