Prologis Releases 2019 ESG Impact Report
Company also names Ying Yu as ESG senior vice president
SAN FRANCISCO, June 30, 2020 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today released its 2019 ESG Impact Report. The report summarizes Prologis' advancements in environmental stewardship, social responsibility and governance (ESG) across its global platform.
The report also highlights the company's strategic areas of focus: Customer Centricity, Change Through Innovation and Operational Excellence, and Culture and Talent. Key takeaways include:
- Developed a cutting-edge, digital logistics training curriculum through the Prologis Community Workforce Initiative (CWI) in response to ongoing labor shortages in transportation, distribution and logistics. The company also delivered virtual reality training tools and employee engagement platforms and, through Prologis Ventures, partnered with WorkStep to provide customers a more efficient and cost-effective way to meet their labor needs.
- Added LED lighting to 50 million square feet of distribution and warehouse space.
- Surpassed the company's goal of 200 megawatts (MW) of installed solar capacity by 2020, 1.5 years ahead of schedule, and set a new target of 400 MW by 2025.
- Achieved operational carbon neutrality—the first real estate company on the S&P 100 to do so. Prologis' carbon strategy is focused on emissions reduction across the business, both direct and indirect, which includes decreasing emissions from energy use in offices and customer spaces.
Specific to COVID-19, the Prologis Foundation established a $5 million global relief fund to support nonprofits, hospitals and organizations focused on public health and safety, as well as those dedicated to food access and economic recovery. Through its Space for Good program, the company has offered unoccupied buildings and yard space to government agencies in the U.S. and to hospitals and relief organizations throughout the world to support in coronavirus relief efforts. To date, Prologis has donated 1.2 million square feet in 13 markets and $4.9 million in in-kind rent.
"Amidst a global pandemic, Prologis took meaningful action to help those in need and reaffirmed our commitment to our employees, customers and communities around the world," said Prologis chairman and CEO Hamid R. Moghadam. "Due to our portfolio scale and infrastructure, we are uniquely able to position our ESG programs to both serve our customers and support people and organizations through crises."
Prologis also announced that Ying Yu has been named senior vice president of ESG for Prologis. In this role, Yu will be responsible for leading an overall ESG strategy that creates business value for the company while generating positive environmental, social and governance impacts. Previously, Yu was the head of sustainability for Bose Corporation, where she built the company's sustainability department and global governance structure, encompassing its environmental protection, economic progress and social responsibility programs.
"Our business and platform are being used to benefit our customers—and that extends to our ESG initiatives, which create value that reaches beyond the walls of our real estate," said chief legal officer and ESG head Edward S. Nekritz. "As we continue to deepen our company's ESG strategy, we welcome Ying, who brings a wealth of knowledge and a strong track record of delivering real change among diverse stakeholders."
Visit Prologis' ESG website https://www.prologis.com/esg-report/2019 to view and download the report. The report has been externally assured and follows the 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, 2020, 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 965 million square feet (90 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) risk 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 30, 2020