Prologis has garnered the #3 spot on the Investor’s Business Daily (IBD) “50 Best ESG Companies” list.
Said IBD, “Prologis isn't only recognized as a global leader in its real estate niche. It’s also viewed as a leader in promoting so-called ESG values, due to its efforts to make a positive impact on the environment, social issues and corporate governance.”
IBD called out a number of ongoing Prologis initiatives in its ranking assessment, including:
- the company’s extensive rooftop solar program, which reached its goal of 200 MW a full year-and-a-half ahead of the target date;
- its first-of-a-kind U.S. multistory logistics facility at Georgetown Crossroads in Seattle;
- its issuance of green bonds, the proceeds of which will be used to pursue investments in a variety of environmentally focused programs, including building technology, water conservation and renewable energy;
- the Community Workforce Initiative, a jobs training program designed to create a pipeline of skilled talent to meet the logistics sector’s growing labor needs—a critical customer pain point—and to enhance career opportunities in the communities where the company does business.
“Our ESG program is built into our business strategy,” Prologis ESG head and chief legal officer Edward S. Nekritz told IBD. “Because sustainability is increasingly central to our customers’ brands and business models, our sustainable buildings give us an edge in attracting and retaining top companies. These energy-efficient buildings lower our customers’ operating costs, which strengthens our relationships with them. Our strong governance and risk management practices ensure the resilience of our business.”
According to IBD, to qualify for the list, companies had to hold an ESG rating from MSCI ESG Research of AAA or AA as of Sept. 11, 2019, designating them as industry leaders in managing ESG risks. They also had to rate highly for fundamental and technical factors tied closely to stock performance.