INDIANAPOLIS – November 8, 2021 — Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces the company will target achieving carbon neutrality for its own operations by 2025 and achieving carbon neutrality in alignment with the Paris Climate Accords by 2040. The company furthers its strong commitment to environmental stewardship, social responsibility and governance (ESG) and sustainable development practices by continuing to build only energy-efficient facilities and optimizing its existing portfolio of more than 160 million square feet. Additionally, Duke Realty has made a new commitment to purchase, maintain, and deploy renewable energy, and promote the use of electric vehicles.
“At Duke Realty, we have been leaders in implementing sustainable building practices and now we are taking an even more active role to address climate change,” said Megan Basore, Duke Realty’s vice president of Corporate Responsibility. “We can now build on our prior efforts to address our environmental impact by setting more aggressive goals toward achieving net zero carbon emissions and helping to lead the industrial real estate industry to a more sustainable future.”
Duke Realty has segmented its impact on greenhouse gas emissions into three scopes. Scope 1 emissions are direct emissions from sources owned or controlled by the company. Scope 2 emissions are indirect emissions produced offsite as a result of purchased energy such as electricity and heat. Scope 3 emissions occur across the company’s value chain, including suppliers, customers and end-users. Duke Realty will employ strategies to directly impact scopes 1 and 2, while working closely to align strategies with its tenants and vendors to impact scope 3.
Duke Realty will work to meet its carbon neutrality goals by reducing its carbon emissions, replacing energy sources with renewable energy and offsetting its energy consumption. The company plans to achieve these objectives through the following actions:
- Making energy-efficient improvements to its existing facilities
- Continuing to develop facilities to LEED®-certification standards
- Investing in renewable energy projects
- Implementing more efficient means of transportation
- Purchasing credible, verified renewable energy credits
- Planting more trees and donating to reforestation organizations
- Supporting electric vehicles
Sustainable development is an integral component of Duke Realty’s commitment to corporate responsibility. The company recently earned top ranking among peers and four Green Stars from GRESB for outstanding performance in ESG and sustainable development. Earlier this year, the company published its 2020 Corporate Responsibility Report. Additionally, the company announced its third green bond in November 2021, bringing Duke Realty’s total green bonds to $1.35 billion after being the first industrial REIT to issue a green bond in the U.S. in 2019. Duke Realty recently filed its 2021 Green Bond Allocation Report outlining how proceeds from the offering were used.