Reporting boundary limited to same-store pool Environmental performance data covers only 2,274 same-store properties (149M sqft); excludes 513 non-same-store, 93 third-party managed, and minority interests in Shurgard and PS Business Parks.
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2021 short-term reduction targets: 5% energy, 5% CO2, 3% water (like-for-like) Set short-term reduction goals for 2021: energy consumption -5%, CO2 emissions -5%, water consumption -3% (like-for-like). 2020 goal of >=2% reduction was achieved.
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Evaluating Paris Agreement alignment and net-zero by mid-century In 2021, Public Storage began prioritizing understanding of the Paris Climate Agreement, analyzing feasibility of medium- and long-term reduction targets, and evaluating becoming a net-zero emitter by mid-century. No formal target set yet.
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Adopted Measurabl PCRX physical climate risk assessment In 2021, began using Measurabl's Physical Climate Risk Exposure (PCRX) system to identify climate risks at the individual property level (floods, heat stress, hurricanes, sea level rise, wildfires, etc.).
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ISOS Group provides limited assurance on environmental data Public Storage engaged ISOS Group to provide moderate (limited) level type 2 assurance on energy, GHG, water, and waste data per AA1000AS standard. EVORA Global also reviewed the data.
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Net zero pathway under evaluation but not committed Public Storage is working towards understanding net zero pathways including consideration of science-based targets, engaging consultants and analyzing alignment commitments, but has not yet set a net zero target.
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Solar program expansion to 71 properties Added solar production capacity to 50 properties in 2021, bringing total to 71 properties with solar (up from 21 in 2020) and 337 additional properties under contract; goal of 1,000 properties.
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Implemented Measurabl PCRX physical climate risk system Began using Measurabl's Physical Climate Risk Exposure (PCRX) system in 2021 to identify climate risks at individual property level (floods, heat stress, hurricanes, sea level rise, water stress, earthquakes, wildfires).
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