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Following Through: 2022

SUSTAINABILITY

ESG OVERVIEW

Extra Space Storage is dedicated to sustainability practices that ensure the company is built to maintain performance in an everchanging world. The environmental, social, and governance (ESG) initiatives of the company are based on a long-term perspective aiming to build Extra Space to be a strong, successful enterprise for decades to come. Strong ESG policies benefit shareholders, employees, customers, communities, and the environment. The Extra Space team is committed to being good stewards of the planet along with being good stewards of shareholders’ capital.

LOW CONSUMPTION COMPARED TO REAL ESTATE AVERAGE1

SUSTAINABILITY HIGHLIGHTS

ENVIRONMENTAL

SOCIAL

GOVERNANCE

  • $19.8 Million in solar investment in 2022
  • $1.6 Million in LED lighting retrofits in 2022
  • 55% of REIT owned stores have solar power

SOLAR
PRODUCTION

VISIT OUR ESG REPORT

Read the full Sustainability report from Extra Space Storage for data and highlights across environmental, social, and governance initiatives.

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Solar Program

For over a dozen years, Extra Space has been investing in solar installations on properties. With half of the Company’s wholly-owned properties powered by the sun, Extra Space has produced enough solar power to offset the emissions of 31 million pounds of coal being burned according to U.S. Environmental Protection Agency Metrics. These solar efforts reduce energy consumption while producing a great return, showing how sustainability can be at the intersection of what is good for the environment, the community, and shareholders.

Benchmarks and Ratings

Extra Space has been recognized for sustainability efforts with a three green star rating by GRESB (Global Real Estate Sustainability Benchmark) and a “Low Risk” rating from Sustainalytics. The Extra Space team is proud to have won NAREIT’s Leader in the Light Award, three consecutive years, and to be the only recipient of the award from the storage sector.

Resilience

Extra Space aims to fortify the business by addressing present and future risks and building resilience. In collaboration across departments, Extra Space teams coordinate on climate risk strategy, assessing financial risks and opportunities, monitoring potential transitions risks and implementing solutions to ensure the continuity of successful operations and long term growth. These efforts include strategic acquisitions and dispositions of properties, watching and tracking government policies, identifying and mitigating extreme weather risks, and more.