Once again, Extra Space Storage receives top marks as the most sustainable U.S.-based self storage company by the Global Real Estate Sustainability Benchmark (GRESB). This is the fourth consecutive year that the self storage REIT has been recognized for its sustainability efforts and the first year that the company ranked higher than the global real estate average.
In its 2021 Real Estate Assessment, GRESB measured the environmental, social, and governance (ESG) performance of over 1,500 participating real estate companies. Extra Space Storage achieved an A rating for GRESB Public Disclosure. The company also received a three green star rating and improved the company’s standing investments assessment score by 14 points in 2021.
“Our sustainability initiatives are based on a long-term perspective for our company. We are building Extra Space to be a strong, successful enterprise for decades to come,” said Extra Space Storage CEO Joe Margolis.
Compared to the Real Estate Sector Average data from the Urban Land Institute report, Extra Space Storage consumes 84% less energy and produces 86% less carbon emissions than the real estate sector average. In its 2020 Sustainability Report, Extra Space Storage outlines a four-step approach—Learn, Plan, Act, and Review—to ensure the long-term success of the company’s sustainability efforts.
“As one of the largest storage operators, we are future-focused as we take an innovative approach to ESG that enables us to maintain performance in an ever-changing world,” Margolis continued.
Over the past four years, Extra Space Storage’s GRESB score has continually improved, confirming the company stands by its statement of long-term sustainability.
“Across the globe, organizations are demonstrating a deep commitment to ESG integration while making important strides towards a more sustainable future for us all,” said Sebastien Roussotte, CEO of GRESB. “ESG transparency and improved performance have never been more important, and it is inspiring to see such a high level of dedication from the industry, particularly when so much has been disrupted by the pandemic this last year.”