Prologis Awarded Inaugural Terra Carta Seal by HRH The Prince of Wales
On November 3rd, His Royal Highness, The Prince of Wales has launched the Terra Carta Seal through his Sustainable Markets Initiative (SMI). The Terra Carta Seal recognises private sector companies who are leading their peers in creating genuinely sustainable markets. The award is being given to just 45 companies in the world – companies that have distinguished themselves as being leaders in sustainability innovation.
Prologis has for decades demonstrated its commitment to sustainable building practices and cutting-edge innovation and technology. The world's largest builder and operator of logistics real estate, the company has stated its goal of achieving green certification for all new developments and redevelopments globally.
Ben Bannatyne, President of Prologis Europe has received this recognition from His Royal Highness, The Prince of Wales during an official event at Kelvingrove.
“We are honoured to be part of this prestigious initiative that puts nature, people and the planet at the heart of global value creation. We share in this with our own vision for enduring excellence in real estate, building lasting relationships and a better environment for our customers, employees and the communities that we are part of,” said Ben Bannatyne, President of Prologis Europe.
"We're pleased to join His Royal Highness, The Prince of Wales, and the Sustainable Markets Initiative's work to help shape a more sustainable future for all," said Prologis co-founder and CEO Hamid R. Moghadam. "This is something we have long practiced at Prologis. It is simply doing our part to create a better, cleaner world for this generation and for generations to come."
His Royal Highness, The Prince of Wales, said: "The Terra Carta Seal recognizes those organizations which have made a serious commitment to a future that is much more sustainable, and puts Nature, People and the Planet at the heart of the economy. We all need to make changes if we are to preserve the planet for our children and grandchildren and these businesses have pledged to make it easier for us all to do so."
The inaugural 2021 Terra Carta Seal recognises global companies which are driving innovation and demonstrating their commitment to, and momentum towards, the creation of genuinely sustainable markets. It is being awarded to companies whose ambitions are aligned with those of the Terra Carta, a recovery plan for Nature, People and Planet, launched in January 2021. The Terra Carta Seal is awarded to companies who hold a leadership position within their industry and who have credible transition roadmaps underpinned by globally recognised, scientific metrics for achieving net zero by 2050 or earlier.
Sustainability in Sweden
For Prologis in the Nordics, these ambitions permeate everything from construction design and waste management to the choice of long-term sustainable logistics locations and installation of solar panels where possible. On one of the properties, Prologis has carried out a complete ecological investigation in accordance with BREEAM to safeguard the biological diversity and, among other things, built a "bug hotel" on the site. This will also be a future standard in new projects.
All present and future projects in the Nordic region are certified with BREEAM “Very good” and have their carbon footprint offset through the organization Cool Earth, which protects endangered rainforest.
Leading in Green Building
As part of the efforts to reduce carbon emissions and meet science-based targets, Prologis remains committed to achieving 100 percent carbon-neutral construction globally by 2025 and partners with customers helping them to decarbonize their operations. Additionally, Prologis is on track to reach its goal of 400 megawatts of solar capacity on its buildings by 2025.
As an industry leader, Prologis issues green bonds to fund investments in sustainable buildings and renewable energy projects across the globe.
Further, Prologis regularly conducts a comprehensive materiality assessment to inform its understanding of the impact of its operations have on the environment, the economy and society. This assessment engages a variety of stakeholders, including employees, customers, nonprofit organizations and suppliers to capture a spectrum of internal and external viewpoints.
Read more about Prologis' sustainability initiatives here.