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Self-Storage REIT Life Storage Publishes Inaugural Corporate Sustainability Report

Life Storage Inc., a self-storage real estate investment trust (REIT) and management company, has released its first sustainability report offering insight to its environmental, social and governance efforts. The inaugural release includes an overview of the REIT’s history and sustainability strategies across a four-pillared approach: footprint expansion, digital efforts, investment in talent and culture, and profitable growth.

“The Life Storage core values—teamwork, respect, accountability, integrity and innovation—serve as guiding principles in all that we do,” said CEO Joe Saffire. “These values are especially evident in our efforts to holistically integrate sustainability across our organization. This report illustrates our commitment to doing right by our stakeholders and doing good for our world.”

According to the report, Life Storage reduced its “like-for-like” energy consumption last year by 12%, with a target goal of 12.5% by 2025. The company also expanded its solar initiative, with expectations to have panel installations at more than 45 locations by the end of this year. The report further highlights the REIT’s five-year energy-consumption and renewable-energy goals designed to reduce its environmental impact.

In addition, the report offers overviews of Life Storage’s social-impact programs and initiatives for diversity and inclusion. A section on governance indicates the company has expanded the scope of responsibility for sustainability oversight to all subcommittees of the board of directors.

The 57-page publication is available as a free PDF download from the sustainability page of lifestorage.com.

Based in Buffalo, N.Y., Life Storage operates more than 1,000 self-storage facilities in 34 states. Its portfolio of owned and managed facilities comprises more than 74 million square feet.

Sources:
Life Storage, Life Storage Inc. Publishes Inaugural Sustainability Report
Life Storage, Sustainability

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