Suzanne Fallender, vice president, global ESG at Prologis, Inc . (NYSE: PLD), participated in a video interview during Nareit’s REITworld: 2023 Annual Conference held Nov. 14-16 in Los Angeles.
Prologis was Nareit’s 2023 Leader in the Light Award winner for industrial REITs. Fallender noted that 2.8% of the world’s GDP flows through Prologis buildings in a year. “With that scale comes responsibility, from our perspective, but also unique opportunity to help drive decarbonization and also help enable the decarbonization strategies of our customers around the world,” she said.
In 2022, Prologis set a goal to achieve net zero emissions across its value chain by 2040 and to reach net zero in its own operations by 2030. Prologis is integrating that strategy in all its conversations with its customers, Fallender said.
As to how the REIT industry can collectively move the needle on sustainability matters going forward, Fallender said “we’re at a really important inflection point for the industry.” REITs can help drive innovation in building design and renewable energy adoption, while also looking at deepening engagement with tenants and customers, she added.
Fallender also highlighted the role REITs can play regarding social and economic impact. For its part, Prologis is looking at how it can empower its employees and support the local communities in which it operates, she noted.