Public Storage Recognized as the U.S. Self-Storage Sustainability Leader on the GRESB Benchmark

Rhea-AI Summary

Public Storage named U.S. self-storage sustainability leader on the 2023 GRESB Real Estate Benchmark

Positive

• Public Storage ranks highest amongst its U.S. peer group for sustainability
• Equipping over 350 properties with solar power capability, with plans to reach over 1,000 properties by 2025
• Reducing like-for-like carbon emissions intensity by 29% over the past four years
• Earning the prestigious Great Place to Work Certification™
• Leading the U.S. self-storage REIT peer group across the primary sustainability benchmarks

Negative

• None.

GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE:PSA), the world’s leading owner of self-storage facilities, announced today that the Company is the U.S. self-storage sustainability leader on the 2023 GRESB Real Estate Benchmark, one of the world’s leading ESG benchmarks and reporting frameworks. Public Storage ranks highest amongst its U.S. peer group for sustainability, was named a best-performing Regional Sector Leader, and was awarded an “A” rating for public disclosure in 2023.

In addition to this recognition, Public Storage’s recent sustainability highlights include:

• Partnering with BREEAM® on a self-storage green building certification program in the U.S., becoming the nation’s leading owner of green-certified facilities and creating a path for adoption by the broader industry;
• Equipping over 350 properties with solar power capability, with plans to reach over 1,000 properties by 2025;
• Reducing like-for-like carbon emissions intensity by 29% over the past four years;
• Earning the prestigious Great Place to Work Certification™, an award based entirely on what current employees say about their experience working at Public Storage;
• Launching our Community Connects community giving initiative and the Preparing the Path leadership accelerator program;
• Earning the “Top 10%” recognition from Comparably Diversity & Gender Scores compared to similar-sized companies; and
• Leading the U.S. self-storage REIT peer group across the primary sustainability benchmarks.

“We are pleased that the leading sustainability benchmarks, including GRESB, recognize Public Storage’s commitment to sustainability through strong foundations, stakeholder engagement, and embedding our framework into corporate strategy,” said Joe Russell, Chief Executive Officer. “As the leader among U.S. self-storage REITs, Public Storage implements responsible and sustainable programs to promote long-term resilience, growth, and value creation.”

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At June 30, 2023, we had: (i) interests in 2,888 self-storage facilities located in 40 states with approximately 206 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels:SHUR), which owned 266 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard® brand. Our headquarters are located in Glendale, California.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231017322956/en/

Ryan Burke

(818) 244-8080, Ext. 1141

Source: Public Storage

FAQ

What recognition did Public Storage receive on the 2023 GRESB Real Estate Benchmark?

Public Storage was named the U.S. self-storage sustainability leader and ranked highest amongst its U.S. peer group for sustainability.

What sustainability highlights has Public Storage achieved?

Public Storage has equipped over 350 properties with solar power capability, reduced like-for-like carbon emissions intensity by 29% over the past four years, and earned the prestigious Great Place to Work Certification™.

How does Public Storage compare to other U.S. self-storage REITs in terms of sustainability?

Public Storage leads the U.S. self-storage REIT peer group across the primary sustainability benchmarks.

What are Public Storage's plans for solar power?

Public Storage plans to reach over 1,000 properties equipped with solar power capability by 2025.

Where is Public Storage headquartered?

Public Storage is headquartered in Glendale, California.