Prologis Releases 2019 ESG Impact Report and Names New ESG Senior Vice President
Prologis released its 2019 ESG Impact Report. The report summarizes Prologis’ advancements in environmental stewardship, social responsibility and governance (ESG) across its global platform.
The report also highlights the company’s strategic areas of focus: Customer Centricity, Change Through Innovation and Operational Excellence, and Culture and Talent. Key takeaways include.
- Developed a cutting-edge digital logistics training curriculum through the Prologis Community Workforce Initiative (CWI) in response to ongoing labor shortages in transportation, distribution, and logistics. The company also delivered virtual reality training tools and employee engagement platforms and, through Prologis Ventures, partnered with WorkStep to provide customers a more efficient and cost-effective way to meet their labor needs.
- Added LED lighting to 50 million square feet of distribution and warehouse space.
- Surpassed the company’s goal of 200 megawatts (MW) of installed solar capacity by 2020, 1.5 years ahead of schedule, and set a new target of 400 MW by 2025.
- Achieved operational carbon neutrality—the first real estate company on the S&P 100 to do so. Prologis’ carbon strategy is focused on emissions reduction across the business, both direct and indirect, which includes decreasing emissions from energy use in offices and customer spaces.
Specific to COVID-19, the Prologis Foundation established a $5 million global relief fund to support nonprofits, hospitals and organizations focused on public health and safety, as well as those dedicated to food access and economic recovery. Through its Space for Good program, the company has offered unoccupied buildings and yard space to government agencies in the U.S. and to hospitals and relief organizations throughout the world to support in coronavirus relief efforts. To date, Prologis has donated 1.2 million square feet in 13 markets and $4.9 million in in-kind rent.
“Amidst a global pandemic, Prologis took meaningful action to help those in need and reaffirmed our commitment to our employees, customers and communities around the world,” said Prologis chairman and CEO Hamid R. Moghadam. “Due to our portfolio scale and infrastructure, we are uniquely able to position our ESG programs to both serve our customers and support people and organizations through crises.”
Prologis also announced that Ying Yu has been named senior vice president of ESG for Prologis. In this role, Yu will be responsible for leading an overall ESG strategy that creates business value for the company while generating positive environmental, social and governance impacts. Previously, Yu was the head of sustainability for Bose Corporation, where she built the company’s sustainability department and global governance structure, encompassing its environmental protection, economic progress and social responsibility programs.
“Our business and platform are being used to benefit our customers—and that extends to our ESG initiatives, which create value that reaches beyond the walls of our real estate,” said chief legal officer and ESG head Edward S. Nekritz. “As we continue to deepen our company’s ESG strategy, we welcome Ying, who brings a wealth of knowledge and a strong track record of delivering real change among diverse stakeholders.”
Visit Prologis’ ESG website https://www.prologis.com/esg-report/2019 to view and download the report. The report has been externally assured and follows the Global Reporting Initiative (GRI) Standards.