Self-storage real estate investment trust (REIT) Extra Space Storage Inc. has released its annual sustainability report for 2022. It highlights recent accomplishments and future goals on environmental initiatives, best-employer efforts, corporate governance and climate-change resiliency as well as results and targets for greenhouse gas (GHG) emissions and consumption. The full publication is available in the sustainability section of extraspace.com.
Extra Space completed 75 new solar projects last year providing company-wide solar production of 36.8 gigawatt hours. The REIT also reduced year-over-year energy use by 8.4% and GHG emissions by 13.4%, according to a press release.
In addition, the report provides updates on the company’s diversity and inclusion initiatives as well as data on internal promotions and career opportunities. It also provides information on the company’s resource efficiency, technology investments and diversified portfolio strategy.
Extra Space has been recognized for its ESG (environmental, social and governance) efforts by Global Real Estate Sustainability Benchmark, Just Capital and S&P Global Inc. The REIT is also a recipient of the “Leader in the Light” award from the National Association of Real Estate Investment Trusts.
“Sustainable business practices and value creation can go hand-in-hand and are complementary goals,” said CEO Joe Margolis. “We are focused on generating strong returns for our investors and doing it in a way that creates long-term, positive outcomes for all of our stakeholders.”
Headquartered in Salt Lake City, Extra Space operates 2,130 self-storage stores comprising 164.2 million square feet in 1.5 million units.
Source: Extra Space Storage, Extra Space Storage Shares ESG Progress With Annual Sustainability Report