Pier 1 PACE Upgrade
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May 2013 Director, Sustainability Programs Aaron Binkley Pier 1 PACE Upgrade
Transcript of Pier 1 PACE Upgrade
May 2013
Director, Sustainability Programs
Aaron Binkley
Pier 1 PACE Upgrade
Objectives
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Introduce Prologis and the PACE project at our Pier 1 global headquarters
Highlight what worked and what was a challenge for this project
Unmatched Global Platform
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1. Note: Data as of December 31, 2012 2. Comprises Prologis’ operating, development and other portfolio 3. Source: International Monetary Fund
Platform covers countries representing ~70% of global GDP(2)
Americas Europe Asia Total
Total Prologis’ Share Total Prologis’
Share Total Prologis’ Share Total Prologis’
Share
Total Portfolio(1) – Square Feet / Square Meters (mm) 380 / 35 73% 138 / 13 66% 36 / 3 73% 554 / 51 72%
Development – TEI ($mm) $968 86% $203 90% $921 91% $2,092 89%
Land (acres) 7,614 98% 3,485 100% 170 58% 11,269 98%
Corporate Responsibility Initiatives
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Environmental Stewardship
Social Responsibility
Governance and Ethics
Operations
Lighting upgrades
HVAC
Cool roofs
Daylighting
Water conservation
EPC/Energy Star
Technology pilot projects
Capital Deployment
Certified construction
EPCs
Embodied carbon pilot
Adaptive re-use
ISO 14001
Renewable Energy
Community Engagement
Green Path
Corporate carbon emissions
Education and training
CR Champions
Charitable activities
Prologis Foundation
Volunteering
Space for Good Program
Corporate Governance
Governance practices
Independent directors
Business conduct hotline
Ethics
Code of business conduct
Employee training
Communications
Sustainable Development
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Prologis applies recognized green building standards to development projects with a goal of 100% certification
38 MSF of certified projects
6 rating systems in 11 countries
Energy Efficient Upgrades
Energy efficiency investments are the single, most cost-effective way to reduce customer operating expenses
270 million square feet has efficient systems
50 percent of the global operating portfolio
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Renewable Energy
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83 megawatts of rooftop solar projects in six countries
104 million kWh of energy production potential
Pier 1 Upgrade Project Objectives
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Reduce operating costs
Better manage our environmental footprint
Demonstrate PACE
Retro-commissioning
Lighting upgrade
200kW rooftop solar installation
Elements of Overall Energy Savings
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0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Baseline Energy Use
67% Post- Upgrade
26% Energy Use Reductions • Retro-commissioning • Lighting Upgrade
7% Solar
Project Evaluation
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Fortunately
Located in PACE market
Support from City
No mortgage
High energy costs
QECB
Unfortunately
No utility incentives
Triple-net leased building
Don’t “own” the building
Special tenant tax status
QECB
Perceived Value vs. Effort
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Value Effort
QECB
QECB
PACE bond
Owner Equity
PACE bond
Owner Equity
Pier 1 and PACE: Works in Progress
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WWW.PROLOGIS.COM
Aaron Binkley Director, Sustainability Programs +1 (415) 733-9554 [email protected]
