Prologis

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Carbon per million dollars of physical infrastructure — PP&E plus leased real-estate, including upstream and downstream leased emissions (Scope 3 categories 8 + 13). The most complete view of physical-asset carbon intensity, relevant for REITs and infrastructure-heavy firms.

• · CarbonPlan OffsetsDB
• · RE100

Prologis surpassed its 1 gigawatt solar generation and storage capacity target by 2025, reaching 1.1 GW on the O&M portfolio (including Prologis and third-party owned projects). The SolarSmart program installs rooftop solar on logistics buildings to provide energy solutions and savings to customers. Renewable energy assets — including solar, EV charging and energy storage — are now classified as other real estate investments on the balance sheet. Green bond proceeds from senior notes finance these projects under Prologis' green bond framework.

The 10-K does not disclose any durable carbon removals (DAC, BECCS, biochar, soil carbon) program, removal credit purchases, or offset retirement volumes. Sustainability strategy is focused on operational efficiency (LED, solar, certifications) and embodied carbon via sustainable building certifications rather than negative emissions.

• Sustainable building certifications on new development

  For developments approved by Investment Committee after June 2021 reaching stabilization in 2025, 62% certified with sustainable building certifications and 38% scheduled — totaling 100% of eligible developments. Buildings include features such as heat pumps, cool roofs, EV charging and xeriscaping.

• LED lighting retrofit across operating portfolio

  Installed or scheduled LED lighting in 100% of eligible new developments/redevelopments and ~83% of eligible O&M operating properties (by sq ft) at Dec 31, 2025. Prologis Essentials LED program delivers efficient lighting to customers and reduces consumption across the portfolio.

• On-site solar and energy storage on logistics rooftops

  Prologis leverages its 1.3B sq ft portfolio of rooftops to deploy solar generation and storage. The Prologis Essentials SolarSmart solution provides customers with energy solutions and savings while reducing the environmental footprint of the firm's owned assets. 1.1 GW installed on O&M portfolio at year-end 2025.

• LED lighting rollout across portfolio

  Goal: 100% LED lighting installed across entire portfolio by 2025. Reached 42% of portfolio by area (330 MSF) by end of 2020, expanding LED coverage by nearly 50% in 2020. 90% of top ten customers participate via Prologis Essentials LED program (no upfront capital, $0.01/sq ft monthly fee for 5 years). LED cuts warehouse lighting consumption 60–80%.

• Carbon-neutral construction (embodied carbon)

  New 2025 goal to achieve 100% carbon-neutral construction globally, addressing ~11% of global emissions tied to embodied carbon. Uses smart design, low-carbon materials, recycled content, construction waste reduction, and certified offsets for remainder. UK life-cycle assessments completed on 57 buildings since 2008. Circular building design and digital materials passports piloted in Netherlands.

• Vehicle fleet emissions reduction

  Largest driver of Scope 1 operational footprint. Achieved 54% decline in mobile combustion (vehicle fleet) emissions in 2020. Continued focus on driving down mobile combustion as the largest operational source.

• Customer operational decarbonisation via Prologis Essentials

  Prologis Essentials platform offers customers energy, sustainability and mobility services including EV charging stations, on-site solar, energy storage and LED lighting — designed to reduce energy/water consumption and GHG emissions within customers' operations (Scope 3 downstream-leased assets exposure for Prologis).

• Data center power procurement

  Selective data center developments require securing reliable long-term energy capacity. Prologis is using its scale and utility/energy-provider relationships to procure power for data center conversions. $686M TEI of data centers currently under development on O&M basis. Power source mix not disclosed.

• Customer downstream leased-asset emissions (CarbonZero program)

  Downstream leased assets are by far the largest Scope 3 category and 99.9% of total footprint. Scope 3 fell 28% YoY in 2020 driven by 38% drop in downstream leased asset emissions, despite 10% square-footage growth. CarbonZero program offers customers turnkey carbon-neutral building operations via vetted offsets + RECs alongside efficiency and onsite solar.

• Sustainable building certifications (LEED/BREEAM/WELL/CASBEE/DGNB/HQE)

  Committed to 100% sustainable certification for all new developments and redevelopments globally from 2021. Cumulative certified space includes 80.9 MSF LEED, 43.1 MSF BREEAM, 34.8 MSF CASBEE, plus DGNB, HQE, WELL and others. LEED Volume Program participation since 2014 has saved ~$24M. ISO 14001:2015 certified EMS for development since 2008 in UK/Europe.

• Urban-core infill siting for last-mile transport efficiency

  More than half of global portfolio sited in urban-core locations to shorten last-mile delivery routes for customers. MIT study cited shows e-commerce via urban-core fulfillment yields 36% fewer overall GHG emissions and 50% fewer transport-related emissions vs in-store retail.