NAREIT Recognizes Prologis with 2015 Leader in Light Award
The National Association of Real Estate Investment Trusts®(NAREIT) recognized Prologis with its 2015 Industrial Leader in the Light award, which honors member companies that have demonstrated superior portfolio-wide sustainability practices. NAREIT chooses only one Industrial Leader in the Light award winner from small cap and large cap companies combined, so this is NAREIT’s highest sustainability accolade for all industrial REITs and real estate companies.
Steve Wechsler, president and CEO of NAREIT, announced the honor at the REITWorld 2015 Annual Conference held in Las Vegas on November 18, 2015. NAREIT previously recognized Prologis as its Industrial Leader in the Light winner in 2012, 2013 and 2014.
NAREIT judging criteria include results of the 2015 Global Real Estate Sustainability Benchmark (GRESB) Annual Survey. The survey measures the environmental performance of property portfolios around the world, and the format is backed by many of the world’s largest institutional investors.
The Leader in Light award helps to draw attention to the importance of sustainability as a key measure of success in business, both within and outside the industry.
“Sustainable business practices reduce costs, increase the appeal of properties to tenants and are important to a growing number of investors – including cross-border investors who are increasingly interested in U.S. real estate investment,” said Sheldon Groner, NAREIT’s executive vice president for finance and operations, who administers the Leader in the Light program.
Recognizing industrial REITs and real estate companies also helps highlight key areas where these businesses are making progress in their sustainability efforts and practices.
“Evaluating best practices submitted for the 2015 Leader in the Light Awards shows that U.S. REITs continue to have a strong focus on improving energy performance,” said GRESB CEO Nils Kok, who is an advisor to the competition. “This year we also noticed more activity in water reduction and waste management efforts, reflecting the broader business focus on these increasingly important issues.”
“We are proud to receive this award for the fourth year in a row,” said Jeannie Renné-Malone, Prologis’ vice president of Sustainability. “We are dedicated to finding and putting into action the most sustainable ways to manage our portfolio. This recognition speaks to our diligence and determination in achieving our environmental goals.”