Prologis Recognized as a Green Lease Leader
Prologis was named a Gold level 2018 Green Lease Leader by the Institute for Market Transformation and the U.S. Department of Energy’s Better Buildings Alliance. Working across a range of real estate owners, tenants, brokers and other stakeholders, green leasing sets terms and provides a framework for landlords and tenants to ensure operating practices and capital investments are beneficial environmentally.
Green Lease Leaders are chosen based on their commitment to increased performance and sustainability in buildings and best practices in leasing. The award, now in its fifth year, recognizes innovative companies that revolutionize leases by including efficiency and sustainability provisions in their terms. This year, Green Lease Leaders represented portfolios totaling 717 million square feet.
Reducing building energy use is best achieved through collaboration between landlords and tenants. With this in mind, Green Lease Leaders creates industry standards and elevates visibility for real estate leaders that implement green, also known as high-performance or energy-aligned, leases. The program recognizes two levels of achievement: Silver and Gold.
Silver recognition applauds the establishment of foundational policies and practices that encourage reduced energy and water consumption in leased spaces. Gold recognition builds on Silver-level achievements and requires execution of green leases and energy-efficient tenant improvements. Commercial, industrial and retail landlords and tenants, as well as transaction teams (a combination of landlord, tenants or brokers for a single real estate deal) are eligible for recognition.
Receiving this Gold-level recognition reflects how deeply sustainability is integrated into every level of Prologis’ business strategy. As part of the award, Prologis will work with the Institute for Market Transformation on a case study highlighting best practices in green leasing. Cindy Curtis, SVP, regional property management, attended the June 26 award ceremony on behalf of Prologis.
“We are honored to be the first industrial real estate company to receive the Green Lease Leader recognition at the Gold level,” said Jeannie Renne-Malone, Prologis’ vice president of sustainability. “As the global leader in logistics real estate, we recognize that solid, proven ESG practices are good business. Not only do our sustainability strategies benefit our customers, investors, communities and employees, they also advance our longstanding focus on exemplary customer service. This is evident in our green lease program, which engages customers in our environmental initiatives and in the resilient and efficient buildings that enable them to operate cost effectively and without disruption.”