Public Storage, the largest self storage facility owner and operator in the U.S. has been named the leader in self storage sustainability according to the 2022 GRESB Real Estate Benchmark. The company’s score has increased to 80 out of a maximum of 100 points this year, gaining an “A” rating for public disclosure.
This recent recognition as a sustainability leader is not the only good news to come from the company. Public Storage has reduced its carbon emissions by 27% over the last three years and equipped almost 200 properties with solar power generation equipment, with the goal of upgrading another 1,000 properties in the next few years.
Public Storage has seen results in the Diversity, Equity and Inclusion (DEI) area as well, with work continuing on increased diversity in management positions and hiring policies. The company’s workforce currently includes 68% female employees and 52% people of color.
“Our proactive, forward-looking strategies reflect our commitment to achieving positive environmental and social impacts while positioning the company for long-term resilience, growth, and value creation.” said Joe Russel, the company’s CEO.
Future Expansion for Public Storage
Public Storage is a California-based REIT that acquires, develops, owns and operates over 2,800 self-storage facilities totaling over 200 million net rentable square feet in the U.S. It has another 14 million total net rentable square feet in the United Kingdom, Sweden, Denmark, The Netherlands, Belgium, Germany and France.
According to Yardi Matrix data, Public Storage is set to complete construction on 14 new properties by the end of 2022, with at least 10 others to be completed over the course of 2023. The company offers a wide variety of storage units, including specialized options like climate-controlled storage units and RV storage units.