Prologis, the world's largest logistics real estate owner and manager with 1 billion square feet (93 million square meters) in 19 countries, has committed to achieving net-zero emissions across its value chain by 2040.

In order to achieve its goals, it submitted a letter of commitment regarding its Net Zero emissions target to the Science Based Targets Initiative (SBTi) for validation.

It has also committed to partnering with external groups to drive decarbonisation across the industry value chain, including innovation in sustainable building materials.

“The Net Zero standard, established by the Science Based Targets initiative, is considered the gold standard and is used by major global corporations. Prologis is creating some of the most innovative energy solutions to combat climate change while dramatically reducing the total cost of operations for our customers,” said Susan Uthayakumar, director of energy and sustainability at Prologis.

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The industrial real estate developer's goals span scope 1, 2 and 3 emissions and include several interim goals, such as achieving 1 gigawatt (gw) of solar generation capacity (supported by storage) by 2025; carbon neutral construction by 2025 and net zero for operations by 2030.

Therefore, it has been investing in energy-related business lines, including electric vehicle charging and on-site solar energy, as additional value-added services for its customers. Prologis currently has approximately 200 EV charging stations and 325 MW of rooftop solar power (as of April 2022).

“We are putting our billion square foot portfolio to good use for our clients every day,” said Susan Uthayakumar. "Prologis is working with our customers to develop and implement advanced climate and energy solutions. These actions will allow us to meet our zero grid commitment ten years ahead of the goal set by the Paris Agreement," he said.

Prologis has distinguished itself by being the first logistics REIT with an approved SBTi emission reduction target in 2018; In addition, it has issued 16 green bonds between 2018 and 2021, and its global credit facility and additional credit lines are linked to sustainability metrics.

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Until last April, it has achieved an installed generation capacity of 325 megawatts (MW), 57% of the company's portfolio operates with LED lighting.

It has also invested $150 million in nearly 40 companies, through Prologis Ventures since 2016, focused on environmental, social and corporate governance (ESG) innovation.

Such investments include technology to reduce food waste in grocery delivery systems, software to calculate greenhouse gas (GHG) emissions associated with third-party shipping, and solutions for workforce safety and productivity.

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