Primary: LED lighting conversion across portfolio All exterior property lighting converted to LED as of 2019. Interior LED conversion in progress with over 600 properties completed through 2020. Motion-sensored 'on demand' control allows lighting only when employees/customers are navigating zones. In 2020, completed LED conversion at 306 additional properties.
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Solar power expansion to 1,000+ properties Public Storage is committed to solar power generation, storage, and use. As of 2020, the company had 27 operating solar locations with contracts in place to add solar to an additional 395 properties, targeting expansion to over 1,000 properties. Public Storage also pre-subscribed to Florida Power & Light's SolarTogether community solar program (largest in U.S.) and committed to utilizing energy from SolarTogether at nearly 170 properties beginning in 2021.
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Primary: Low-water irrigation and landscaping Low-water irrigation system conversion completed at 91 properties in 2020. Initiatives include drought-tolerant and native landscaping, efficient plumbing systems, water run-off controls, storm water retention, and one restroom per property on average. Resulted in 13.8% like-for-like water consumption reduction in 2020 vs 2019.
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Fifth LEED-certified property (Arnold, MD) 1434 Ritchie Hwy., Arnold, MD received LEED V4 BD+C Certified on 1/21/2020. Five LEED-certified properties total, with five more pending.
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Primary: Property of Tomorrow & redevelopment upgrades Property of Tomorrow program (started 2018) upgrades older properties with efficiency improvements; ~300 properties upgraded through 2020, targeting completion by 2025 at total cost exceeding $600 million. Since 2013, ~$600 million allocated to redevelopment that includes resilience measures. Upgrades include HVAC (30,000+ units), lighting, plumbing, irrigation, landscaping, solar power, elevators (2,400+), and building envelope.
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Dependent: Green building / LEED-aligned new construction Aligning new properties with LEED standards. Five properties have received LEED certifications (Silver to Gold) and an additional five are on track. All redevelopment properties include efficiency upgrades since 2013. Refining green building implementation strategy to strengthen environmental leadership in self-storage.
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Primary: Centralized access & environmental controls Completed installation of centralized access system (entrance gates, doors, elevators) at all properties in 2020 — the only self-storage REIT with portfolio-wide centralized access control. System enables remote monitoring and identification/remedy of inefficiencies (e.g., doors left open) that would otherwise cause negative environmental impacts such as greater HVAC use.
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Established PS Cares Emergency Fund (>$10 million) Initiated >$10 million fund to support employees and families through COVID-19 with incentive pay, childcare assistance, extended PTO, COVID-19 testing coverage and mental wellness support.
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Formalized Board sustainability oversight via NGS Committee NGS Committee adopted charter changes to provide enhanced oversight of sustainability efforts. Sustainability Committee reports directly to NGS Committee.
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