In the latest episode of The REIT Report: NAREIT's Weekly Podcast, Jeannie Renne-Malone, vice president for sustainability with industrial REIT Prologis (NYSE: PLD), discussed some of the highlights from Prologis’ recently released corporate responsibility report (PDF).
The latest report details the company’s efforts in 2016 on three different spectrums: environmental, social and governance.
In terms of the firm’s environmental program, Prologis has already surpassed its goals for cutting greenhouse gas emissions that had been set for 2020. The company also expanded its use of solar power and implemented a mandate for LED lighting.
With regard to social responsibility, Prologis saw an increase in the number of employee volunteer hours in 2016. The company also donated more than $1.6 million from its foundation to human welfare, environmental and educational initiatives.
“The increase in numbers in those programs show that our employees are very dedicated to sustainability from a social responsibility perspective, and we continue to engage in our communities,” Renne-Malone said.
Renne-Malone also noted that research firm Green Street Advisors has recognized Prologis’ corporate governance practices for 14 straight years.
Looking ahead at challenges, Renne-Malone said Prologis continues to seek out ways to improve and expand its access to sustainability data. She said the industrial REITs is addressing that challenge through increasing interactions with tenants and new benchmarking programs. Prologis also has started a customer advisory board to engage with its customers specifically on sustainability matters.