Shurgard Self Storage SA, the European affiliate of U.S.-based real estate investment trust Public Storage Inc., was one of 20 companies selected to be part of the new BEL ESG index launched by Euronext to track Brussels-listed companies that demonstrate strong environmental, social and governance (ESG) practices. The index is designed to help investors identify companies that combine economic performance with sustainability practices, according to a press release.

“Over the past few years, we have been solidifying our position as a European leader in sustainable self-storage operations,” Shurgard officials said. “This required embracing industry-leading innovations while continuously working to reduce the environmental footprint of our assets. We are excited that our efforts on this front have been recognized and supported by Euronext. Shurgard is proud to contribute to the new BEL ESG index and celebrate this achievement, which further reinforces our ESG standpoint.”

Last year, Shurgard was given a five-star rating by GRESB B.V. (Global Real Estate Sustainability Benchmark), a data-services firm that issues an annual assessment of sustainability performance at real estate companies and funds worldwide. The company scored 90 out of a possible 100 points. It was also awarded an “AA” ESG rating by MSCI Inc., which provides support tools and services to the global investment community. The rating was one grade away from the highest ranking, the release stated.

Shurgard also improved its S&P Global Corporate Sustainability Assessment score by five points, placing it in the top 12% among real estate firms. In addition, it received a “low risk” ESG rating from Sustainalytics, a company affiliate of financial services firm Morningstar Inc. The company placed in the top 13% in real estate and top 5% globally, according to the release.

Euronext has partnered with Sustainalytics to provide market data for the BEL ESG index.

Shurgard operates 267 self-storage facilities comprising 1.4 million net rentable square meters in Belgium, Denmark, France, Germany, The Netherlands, Sweden and the United Kingdom.

Headquartered in Glendale, California, Public Storage has interests in 2,836 self-storage facilities in 40 states, with approximately 202 million net rentable square feet. It holds a 35% interest in Shurgard.

Sources:
Shurgard, Shurgard Is Part of the New BEL ESG Index
Euronext, Euronext Launches the BEL ESG Index