Prologis recently announced a commitment to achieve net zero across our value chain by 2040. We have set clear, science-based interim milestones to measure and report our progress. And while we are optimistic about our success, we know that some of the technologies and solutions that will help us get there are not fully clear today.
That is why we have joined MIT’s Climate and Sustainability Consortium (MCSC). The Consortium is focused on some of the most important challenges facing the industry, including tough transportation modes, value chain resilience, natural carbon sinks, low carbon building materials, and more. Companies such as Apple, IBM, Boeing, and PepsiCo have joined the MCSC to implement large-scale, real-world solutions, across sectors, that help meet global climate and sustainability challenges.
We are excited to collaborate with MCSC in areas that we believe will help drive real and practical progress. Initially, we will focus on concrete and steel decarbonization and evolving, alternative, low/no carbon mobility solutions. As the world’s largest builder and owner of logistics facilities, we are exploring how we can support new and sustainable technologies in building construction, including focusing on carbon capture during cement and steel production. The Consortium will allow us to stay abreast of complementary initiatives within the private sector while also engaging the MIT research community around industry-wide sustainability efforts.
As an industry leader, our goal is to inspire transformative change and demonstrate the value of collaboration while working toward our ambitious sustainability goals and properly serving our communities. Overall, we are confident this partnership will accelerate our progress toward our net zero commitment.