In 2024, Public Storage completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Public Storage has also provided a category-level breakdown for 9 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 32,399a | 19,167a | 22,985a | |
Total Scope 2 | ||||
Market-Based | 120,431a | 115,660a | 123,265a | |
Location-Based | 107,409a | 112,095a | 116,277a | |
Unspecified Calculation Method | N/A | N/A | N/A | |
Total Scope 3 | 290,112a | N/A | N/A | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 6.8998a | 4.2427a | 5.496a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Public Storage amounted to 139,808 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Public Storage increased by 6.51%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Public Storage were 32,399 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Public Storage's Scope 1 emissions have increased by 117.69%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Public Storage's Scope 1 emissions increased by 69.04%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Public Storage reported Scope 2 greenhouse gas (GHG) emissions of 120,431 tCO₂e using the market-based method and 107,409 tCO₂e using the location-based method.a
Compared to the previous year (2023), Public Storage's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Public Storage's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Public Storage reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Public Storage reported 290,112 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Public Storage includes a breakdown across 9 of the 15 Scope 3 categories defined by the GHG Protocol, up from 0 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, Public Storage reported total Scope 3 emissions of 290,112 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 98.98% of these emissions originated from upstream activities such as purchased goods and capital goods, while 1.02% came from downstream activities like product use, distribution, and end-of-life treatment.a
In 2024, Public Storage reported emissions for 9 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Public Storage's Scope 3 emissions were:a
In 2024, Public Storage reported Scope 1 greenhouse gas (GHG) emissions of 32,399 tCO₂e and total revenues of USD 4,696 millions. This translates into an emissions intensity of 6.9 tCO₂e per millions USD.a
In 2024, Public Storage reported a Scope 1 emissions intensity of 6.9 tCO₂e per millions USD. Compared to the peer group median of 1.74, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Public Storage ranked 18 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Public Storage is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Public Storage reported a total carbon footprint of 429,920 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 227.53% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Public Storage's total carbon footprint was Scope 3 emissions, accounting for 67.48% of the company's total carbon footprint, followed by Scope 2 emissions at 24.98%.a