Prologis Announces Approved Science-Based Target to Address Climate Change
As a testament to Prologis’ industry ESG leadership, the company has committed to a science-based target (SBT) to address the urgent action needed to curb climate change. Led by the Science Based Targets Initiative (SBTi), SBTs are an internationally recognized approach for helping companies create science-based goals for reducing GHG emissions.
According to a recent report by the Intergovernmental Panel on Climate Change (IPCC), immediate efforts are necessary to avoid what is predicted to be catastrophic climate change by 2030. Prologis is among a select group of companies that have taken a proactive approach by establishing and receiving SBT approval. Of the 492 global companies that have committed to setting an SBT, less than 25 percent have achieved approval from the SBTi of that percentage, only 11 real estate companies made the cut. Prologis is the first logistics REIT with an approved SBT.
Prologis’ SBT goal states: “Prologis commits to reduce absolute scope 1 and 2 GHG emissions 21 percent by 2025 and 56 percent by 2040 from a 2016 base-year. Prologis also commits to reduce absolute scope 3 GHG emissions 15 percent by 2025 and 40 percent by 2040 from a 2016 base-year.”
For information about Prologis’ 2016 base-year GHG emissions, please see the company’s 2017 Sustainability Report.
Prologis has been actively engaged in work to address climate change. The company was four years ahead of its goal to reduce scope 1 and 2 GHG emissions 20 percent by 2020. Prologis’ plans to meet its SBTs include taking the following immediate actions:
- Prologis headquarters, offices and properties will continue to incorporate new technologies and building design features to increase efficiency.
- Prologis will continue to work with customers to help them minimize their impacts by engaging on best practices and technologies, offering programs such as LightSmart LED retrofit and helping with solar energy installations.
- The company’s ESG team will continue to engage with Prologis employees globally on long-term environmental stewardship initiatives and GHG-reduction strategies.