Prologis Receives Industrial NAREIT Leader in the Light Award for Sustainability Efforts
Prologis has been awarded the Leader in the Light Award in the Industrial sector every year since 2012, when NAREIT first introduced its current categories.
NAREIT president and CEO Steve Wechsler announced the awards at the REIT World 2016 Annual Conference in Phoenix Nov. 16.
NAREIT’s judging criteria include results of the 2016 Global Real Estate Sustainability Benchmark (GRESB) Survey. Each year, Amsterdam-based GRESB measures the environmental and sustainability performance of property portfolios around the world based on a range of key performance indicators across all environmental, social and governance (ESG) categories, including water and energy consumption, carbon dioxide emissions, sustainability policies and practices, and stakeholder engagement. In 2016, 759 property companies and funds participated in the survey, representing $2.8 trillion in gross asset value (GAV) and covering 66,000 assets in 63 countries on six continents. The survey is endorsed and watched closely by many of the world's largest institutional investors, representing, in 2016, more than $7.6 trillion in institutional capital under management.
The Leader in the Light award puts the spotlight on the importance of sustainability as a key measure of success in business, both within and outside the industry.
Recognizing industrial REITs and real estate companies also helps to highlight the key areas in which these businesses are making progress in their sustainability efforts and practices.
Prologis, the world's leading owner, manager and developer of logistics real estate, has been a pioneer in industry sustainability efforts. With 108 megawatts of solar power capacity installed on its rooftops, the company is the third-largest corporate generator of solar power in the U.S., behind only Target and Walmart. The company’s comprehensive annual Sustainability Report documents Prologis’ efforts to build sustainability into its global operations, which comprise 3,347 industrial properties in 20 countries in the Americas, Europe and Asia. The company’s program includes initiatives to install efficient lighting and cool roofs throughout its portfolio, and successful efforts to seek sustainability certifications for new developments.
“We are proud to receive this award for the fifth 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 working toward our environmental goals.”