Link Logistics
2023 Sustainability Report
P.3
Introduction
Overview
Sustainability
Social Impact
Governance
Appendix
Table of Contents Letter from the CEO
Letter from the CEO
Dear Fellow Stakeholders,
Opportunities ahead We have established a strong framework for our firm moving forward. It is exciting to consider our capabilities to do more with sustainability initiatives such as solar and LEDs as we address our customers’ needs, accelerate the energy transition and help shape the future of the supply chain. Furthermore, we are actively working on solutions that support the next era of warehouse operations. These solutions, which include data-driven renewable energy products, will help our customers meet the power demands resulting from burgeoning innovations such as automation and fleet electrification. Leveraging proprietary research, analytics and data not only allows us to anticipate leasing trends and identify the most strategic property locations; it also informs how we deploy capital to enhance the value of our real estate by focusing on power and utilities.
earn recognition including the 2024 ENERGY STAR® Partner of the Year designation from the U.S. Environmental Protection Agency.
I am proud to share Link Logistics’ 2023 Sustainability Report. Five years ago, our firm was established with sustainability as a foundational pillar. Since then, our managed portfolio has grown to more than half a billion square feet across key markets throughout the U.S. From small family operations, to the biggest names in e-commerce and everyone in between, it is always thrilling to see the supply chain in action when I visit Link Logistics properties. While our firm has expanded rapidly, we have never lost sight of the fact that prioritizing sustainability makes good business sense. Our scale, coupled with our ability to leverage insights and connections from across the Blackstone Real Estate ecosystem, presents tremendous opportunity. Our commitment to sustainability and our conviction in its ability to drive value to our real estate have only strengthened with our firm’s growth. In addition, our people continue to impress me daily with their dedication to operating as one team with an unwavering focus on delivering positive outcomes for our customers. We have accomplished so much together—as illustrated in this report—but I have no doubt that the best is yet to come. Partners in decarbonization Last year was especially significant for our firm. We made substantial investments in new technology that enhances our partnership with customers. In a milestone achievement, we launched Energy Solutions, our award- winning energy and utility management program that helps customers reduce emissions and achieve lower operating
We continue to believe broad partnership with customers and climate-focused organizations is the key to helping drive the energy transition. In 2023, we held our first Link Logistics Energy & Sustainability Summit. I write this letter shortly after we completed our second summit, which was part of Climate Week NYC, the largest annual climate event of its kind. People, culture and values I remain inspired by how our employees uplift one another and our communities. Nearly 900 team members from markets across the U.S. contributed more than 3,500 volunteer hours in 2023 to fight childhood hunger with CoreGiving, our marquee nonprofit partner. It is always invigorating to see how enthusiastically our firm’s people embrace this organization I co- founded several years ago to address food insecurity. Also last year, our Link Logistics Community Grants Program furthered its work to provide infrastructure funding to organizations addressing hunger, education and hyperlocal needs. Since 2022, this program has now distributed $6 million across more than 50 projects throughout the U.S.; it is humbling to be able to support groups doing critical frontline work. The resources we commit to our people, processes and technology consistently strengthen our firm. We continue to build a culture of belonging and inclusion, as the people we hire, train and develop are our greatest asset. Last year, our Social Impact department launched Pride, an employee resource group (ERG) for LGBTQIA+ team members and allies; we now have five ERGs with over 60% of employees engaged in at least one, with more on the way. And we invested in people and technology to bolster our commitment to governing privacy, data compliance and enterprise risk management.
One team focused on the future I am immensely proud and grateful for all that our team has accomplished in 2023 and I am excited about all that we will achieve over the next five years as one team.
Thank you for reading, and for your ongoing support.
costs. We also introduced Link+, a customer-focused digital platform that is receiving glowing feedback.
Luke J. Petherbridge Chief Executive Officer
It is gratifying to see our value-oriented sustainability practices
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