Extra Space Storage is committed to improving the sustainability of our self storage facilities through strong environmental practices, and our objectives in promoting sustainability and energy efficiency are backed by a record of action.
“As one of the largest storage operators, we are future-focused as we take an innovative approach to ESG (Environmental, Social, and Governance) that enables us to maintain performance in an ever-changing world. With our focus on constant improvement and a commitment to our core values, we are building Extra Space Storage for a better tomorrow,” said Extra Space Storage CEO Joe Margolis.
Below are some of Extra Space Storage’s environmental sustainability highlights and improvements in 2020.
- 7.0% reduction in GgG Emissions
- 50% of REIT Owned Locations with Solar Panels
- $20 million in solar installations in 2020
- 111 new solar installations in 2020
- 9.4% reduction in purchased electricity
- REIT store lighting fixtures updated to LED or T-8 Lighting Systems
- 14.2% of Waste Diverted from Landfills to Recycling Centers
Since Extra Space Storage is a public REIT and owner and manager of real estate, we strive to reduce our carbon footprint. We achieve this through several energy-saving initiatives, such as installing solar panels and high-efficiency fixtures at our facilities. We also have programs to reduce water consumption and unrecycled waste.
At 685 Extra Space Storage facilities across 28 states, we performed lighting retrofits or LED installations-creating an estimated 10 million KWh in electricity savings. We also consistently maintain conservative indoor temperatures at our facilities and make regular updates to our energy-efficient HVAC systems. In addition, our corporate headquarters is located within a LEED-certified building that has several energy-efficient features from sensor-based lighting to electric car charging stations.
Even though our self storage properties are low consumers of water and low producers of waste-water, we seek to reduce our water consumption through efficient plumbing devices and irrigation systems. We’re mindful of the landscape at our various properties, so we xeriscape when permitted or install landscaping that does not require significant watering.
Waste Reduction & Recycling
Extra Space Storage is constantly finding ways to reduce our carbon footprint. From cardboard boxes to packing supplies, we’re committed to using recycled materials in the products we sell in our stores. In 2020, the amount of waste that was diverted to recycling centers rather than landfills increased by 4.3%.
2020 marked a decade of solar projects at Extra Space Storage. We completed 111 solar projects with additional installation projects in the planning, development, and building phases. The goal of our solar efforts is to reduce our electricity use while targeting a strong financial return, showing how sustainability is good for our environment, the community, and our shareholders.
Read more about Extra Space Storage’s sustainability achievements in our 2020 Sustainability Report.