Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced like-for-like electricity consumption by 8.5% compared to 2019
• Reduced like-for-like carbon emissions by 18.2% (Scope 1) and 9.1% (Scope 2) compared to 2019
• Achieved a 14.0% reduction in carbon emissions (Scopes 1 and 2) since 2017, surpassing the 2023 objective
• Increased number of green certified properties (BREEAM) by 20.7% from 2019 to 2020

Social Achievements

• Increased employee appraisal engagement by 9.4% to 86.9%
• Reduced employee turnover by 38.5% to 25.4%
• Increased assets with implemented local community engagement by 118.6% to 93.8%
• Donated €220,000 to Fondation des Hopitaux de Paris and €20,000 to University Hospital Antwerpen (UZA) for COVID-19 relief

Governance Achievements

• Established a formal cross-departmental ESG Committee to implement and suggest ESG goals
• Achieved a 4-star GRESB rating (78/100) in 2020, significantly improving from a 1-star rating in 2019
• Awarded a Silver Medal at the EPRA Sustainability Best Practices Recommendations awards

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacted audits and travel

Mitigation Strategies

• Comprehensive COVID-19 secure protocols were issued at all centers, including updated risk assessment guidance and procedures. Full compliance with local government and health authority recommendations.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: EPRA sB PR guidelines, GRESB

Awards & Recognition

• Silver Medal at the EPRA Sustainability Best Practices Recommendations awards

Environmental Metrics

ESG Focus Areas

• Environmental Impact
• Impact on Society
• Our Employees
• Ethics and Governance

Environmental Achievements

• Reduced like-for-like electricity consumption by 5.6% compared to 2020
• Reduced like-for-like carbon emissions by 19.0% (Scopes 1 and 2) compared to 2017 baseline, exceeding the 2023 objective
• Established an ISO 14001 aligned environmental management system
• 100% of electricity used sourced from traceable, zero-carbon energy contracts from January 2021

Social Achievements

• Achieved 93.0% appraisal engagement
• Reduced gender pay gap to -2.4%
• Implemented various community engagement programs across Europe (e.g., partnerships with Le Rire Médecin, Stichting Babyspullen, Pelicano, etc.)
• Awarded the Fedessa Charity Initiative Award 2021

Governance Achievements

• Rolled out Code of Conduct among all employees
• No fines, notifications, penalties, or settlements during 2021
• No breaches to Code of Conduct throughout the year
• Achieved a Gold EPRA sBPR Award and a 5-star GRESB rating

Climate Goals & Targets

Environmental Challenges

• Reaching additional energy efficiency reductions with diminishing returns
• Managing climate change risks (physical and transition)
• Improving data availability and quality for Scope 3 emissions
• Increasing water consumption despite low overall usage

Mitigation Strategies

• Investing in LED lighting upgrades, heating optimization, and solar PV installations (€10 million per year)
• Implementing an environmental management system aligned with ISO 14001
• Developing a net-zero carbon strategy with interim and long-term targets
• Undertaking a deep dive analysis into water consumption patterns

Supply Chain Management

Supplier Audits: ESG supplier assessment on main construction and maintenance suppliers

Responsible Procurement

• Incorporating ESG considerations into procurement decisions
• Sustainable procurement strategy promoting local communities and high labor standards
• Compliance provisions in contract templates
• Review of modern slavery and bribery risks

Climate-Related Risks & Opportunities

Physical Risks

• Localized flooding
• Rising temperatures

Transition Risks

• Electrification and decarbonization
• Increased carbon taxation
• Higher standards for buildings
• Increased reporting burden
• Introduction of a carbon price

Opportunities

• Avoidance of stranded assets
• Minimizing costs by investing at the right time
• Minimizing taxation
• Attracting customers/investors

Reporting Standards

Frameworks Used: GRI, EPRA sBPR, GRESB, Sustainalytics, CSA, UN Global Compact

Certifications: ISO 14001

Third-party Assurance: EVORA Global Ltd.

Awards & Recognition

• Gold EPRA sBPR Award
• 5-star GRESB rating
• Fedessa Charity Initiative Award 2021

Environmental Metrics

ESG Focus Areas

• Climate Change
• Managing Carbon Emissions
• Waste Management and Recycling
• Water
• Climate Risk Assessment
• Health and Safety
• Committed Governance
• Transparency and Reporting
• Financial and Non-Financial Risk Management
• Data Security
• Strong Corporate Culture
• Economic Performance
• Customer Wellbeing
• Community Wellbeing
• Employee Wellbeing
• Social Impact
• Supply Chain Engagement
• Integration of ESG Dialogue and Engagement
• Director Remuneration
• Diversity and Inclusion
• Talent Management
• Learning and Development

Environmental Achievements

• Reduced like-for-like energy consumption by 7.2% compared to 2021
• Reduced like-for-like carbon emissions by 9.3% compared to 2021, and by 10.5% when including the impact of green-energy procurement
• Installed smart water meters in 160 stores by the end of 2022
• Reduced total electricity usage in stores by 4.2%
• Installed ten more heat pumps in 2022
• Roof-mounted solar panels on 18 properties by the end of 2022
• Maintained 100% waste diversion from landfill

Social Achievements

• Launched an ESG-specific training course on the internal online learning platform
• Developed four value pillars (happiness, training, team spirit, and perspective) for employee well-being
• Organized new events with charity organizations and increased philanthropic contributions

Governance Achievements

• Hired an internal ESG Reporting Specialist
• Established an ISO 14001 aligned environmental management system (EMS) in 2021
• Rolled out the Code of Conduct among all employees
• No fines, notifications, penalties, or settlements during 2022
• No breaches to the Code of Conduct throughout the year

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions
• Climate-related risks (river floods and sea level rise impacting 11% of rentable sqm)
• Transition risks (electrification, decarbonization, carbon taxation, increased standards, higher reporting burden, carbon pricing)

Mitigation Strategies

• Developed an internal process to monitor how critical suppliers manage their ESG outcomes
• Performed a physical climate risk assessment of the entire portfolio
• Committed to decarbonizing its business to be Net Zero in operations by 2030 and Net Zero across the value chain by 2040
• Investing in LED technology, heat pumps, and solar panels
• Incorporating climate-related risks into the ISO 14001-aligned EMS

Supply Chain Management

Supplier Audits: ESG surveys of over 50 critical suppliers

Responsible Procurement

• Sustainable procurement practices
• ESG considerations in procurement decisions
• Compliance provisions in contract templates
• Monitoring of modern slavery and bribery risks
• Use of FSC or PEFC certified wood fiber-based products

Climate-Related Risks & Opportunities

Physical Risks

• River floods
• Sea level rise
• Tropical cyclones

Transition Risks

• Electrification and decarbonization
• Carbon/emission taxation
• Increased standards for buildings
• Higher reporting burden
• Carbon pricing

Opportunities

• Avoidance of stranded assets
• Minimization of costs
• Minimization of taxation
• Attracting stakeholders through sustainability credentials

Reporting Standards

Frameworks Used: GRI, EPRA sBPR, GRESB, S&P Global CSA, Sustainalytics, TCFD, UNGC

Certifications: ISO 14001

Third-party Assurance: IHS Markit Ltd (part of S&P Global)

UN Sustainable Development Goals

• No Poverty
• Good Health and Well-being
• Affordable and Clean Energy
• Decent Work and Economic Growth
• Life on Land
• Climate Action
• Responsible Consumption and Production
• Sustainable Cities and Communities

Shurgard's initiatives contribute to these SDGs through charity events, employee well-being programs, sustainable energy sourcing, fair employment practices, green building construction, carbon reduction efforts, responsible waste management, and development of resource-efficient stores.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• 5-star GRESB rating (90/100)
• Gold Medal at the EPRA Sustainability Best Practices Recommendations awards
• AA MSCI ESG Rating

Environmental Metrics

ESG Focus Areas

• Climate Action
• Responsible Consumption and Production
• Sustainable Cities and Communities
• No Poverty
• Good Health and Well-being
• Affordable and Clean Energy
• Decent Work and Economic Growth
• Life on Land
• Corporate Governance
• Business Ethics
• Data and Cyber Security

Environmental Achievements

• Reduced energy consumption by 40% compared to 2017 baseline.
• Achieved a 53% reduction in like-for-like emissions compared to 2017 baseline.
• 100% of electricity sourced from REGO-backed sources.
• More than 70% of gas sourced from REGO-backed sources.
• 100% diversion from landfill.
• 46% reduction in like-for-like water consumption compared to 2017 baseline.

Social Achievements

• Launched a new employee training program on diversity, equity, and inclusion.
• Earned a Silver medal accreditation by Investors in People.
• 4.7/5 rating on Glassdoor.
• Implemented bi-monthly stress relief workshops for support center staff.
• Invested in teleworking and ergonomics training.

Governance Achievements

• Reduced board size from 11 to 9 directors.
• Increased board diversity by nominating Tom Boyle and Lorna Brown.
• Improved S&P Global’s Corporate Sustainability Assessment score, placing in the world’s top 9% of scores achieved by real estate companies.

Climate Goals & Targets

Environmental Challenges

• Maintaining sector leadership while upholding high performance.
• Navigating the complexities of implementing solar solutions across seven countries.

Mitigation Strategies

• Developing a coherent energy supply strategy, including technical assessment of solar panel potential and exploring PPAs.
• Implementing comprehensive measures to enhance the resilience of infrastructure and operations against physical climate risks.

Supply Chain Management

Supplier Audits: Yearly sample-based audits on new development sites.

Responsible Procurement

• Suppliers’ Code of Conduct (publicly available), clauses in contracts relating to anti-bribery, human rights, and modern slavery.
• Sustainable procurement considering ESG factors.

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Sea level rise
• Extreme weather events

Transition Risks

• Regulatory risks
• Energy and resource risks
• Technology risks
• Reputation risks
• Financial risks

Opportunities

• Development of energy-efficient products
• Investment in renewable energy sources (solar panels).

Reporting Standards

Frameworks Used: GRI, EPRA, EU Taxonomy, UNGC

Certifications: ISO 14001 (implied), BREEAM

Third-party Assurance: IHS Markit (part of S&P Global)

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 8 (Decent Work and Economic Growth)
• Goal 11 (Sustainable Cities and Communities)
• Goal 13 (Climate Action)

Shurgard's sustainability strategy contributes to these SDGs through initiatives related to energy efficiency, renewable energy, employee well-being, community engagement, and climate change mitigation.

Sustainable Products & Innovation

• Sustainable packaging from certified forests.

Awards & Recognition

• GRESB 5-star rating (91/100)
• MSCI ESG Rating of AA
• FEDESSA Manager of the Year Award

Environmental Metrics

ESG Focus Areas

• Carbon neutrality
• Green buildings
• Green energy
• Board diversity

Environmental Achievements

• Replaced conventional heating solutions with heat pumps in 19 buildings
• Retro-fitted entire portfolio with energy-efficient LEDs
• 100% of electricity and >70% of gas sourced from REGO-backed sources
• Planning to install >20,000 sqm of solar panels in UK and Netherlands stores (expected production of ~4,000 MWh/year)

Social Achievements

• Increased Board gender diversity from 33% to 44%

Governance Achievements

• Maintaining strong governance policies
• Working on increasing transparency and consistency of sustainability reporting
• Updated and strengthened double materiality assessment process

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRESB, MSCI

Certifications: BREEAM

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• GRESB 5-star rating
• MSCI AA rating