Commercial, Energy Efficiency, GHG Emissions - July 1, 2024
Public Storage Creates 2032 Goals
Public Storage announced the storage company’s recent sustainability highlights include setting a new, ambitious 45% reduction target for Scope 1 and 2 GHG emissions by 2032 based on a 2022 baseline.
The company’s goals also include more than doubling its properties with solar power generation, with plans to reach 1,300 properties by 2025. Additionally, it plans to continue partnerships to deploy community solar to over 160 properties, with many providing affordable renewable energy to low- and moderate-income households within its local communities.
Public Storage announced a total of 134 certified buildings (BREEAM and LEED) and over 470 properties with solar installations.
In 2023, the company reduced its Scope 1 and 2 emissions by an estimated 13%.
Scope 3 emissions now comprise most of the company’s emissions and are largely driven by its property building materials, construction, and maintenance activities. Other key components of its Scope 3 emissions include managed properties, leased assets and its investment in Shurgard.
In 2024, Public Storage will complete its first embodied carbon characterization study. This will evaluate the contribution of key construction materials to its emissions and possible construction material substitution. The company provided details in the release of its 2024 Sustainability Report.
“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 in statement. “We are pleased to share our progress, commitments, and outlook in the 2024 Sustainability Report.”
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