Self-Storage REIT Public Storage Releases 2024 Sustainability Report

July 8, 2024

2 Min Read

Public Storage Inc., a self-storage real estate investment trust and management company, released its annual sustainability report for 2024. It explains how the company’s engaged and diverse team, innovative and sustainable operations, and financial fortitude continue to position the operation for long-term resilience, growth and value creation, according to a press release.

The publication is available in the sustainability section of Highlights include:

  • Setting a 45% reduction target for scopes one and two greenhouse-gas emissions by 2032 based on a 2022 baseline

  • Doubling the company’s properties with solar-power generation, with plans to reach 1,300 by 2025

  • Continuing partnerships to deploy community solar to more than 160 properties, with many providing affordable renewable energy to local low- and moderate-income households

  • Being named a “Leader in the Light,” an award by the National Association of Real Estate Investment Trusts to honor companies that demonstrate outstanding sustainability practices

  • Earning a second consecutive “Great Place to Work Certification,” an award based on what current employees say about their experience working at Public Storage

  • Completing the second year of “Community Connects,” an employee-driven community giving program, which offers grants to employee-selected nonprofits

  • Graduating its first participants in the leadership-accelerator program “Preparing the Path”

“Our 6,200 team members leverage their unique backgrounds to drive innovation, create value and solidify our position as a global leader in sustainable self-storage operations,” said CEO Joe Russell. “We are pleased to share our progress, commitments and outlook in the 2024 Sustainability Report.”

Based in Glendale, California, Public Storage has interests in 3,045 self-storage facilities in 40 states, with approximately 218 million net rentable square feet. It holds a 35% interest in Shurgard Self Storage Ltd., which has 279 facilities in seven European countries, with approximately 15 million net rentable square feet.

Source: Public Storage, Public Storage Releases 2024 Sustainability Report

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