NEW YORK
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August 26, 2022
(press release)
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Link’s commitment aims to conserve more than 200,000 acres of forests and offset approximately 250,000 tons of greenhouse gases over a five-year period Blackstone Real Estate portfolio company Link is the first real estate firm to participate in the Family Forest Carbon Program, further demonstrating Link’s commitment to achieving carbon neutral operations by 2025 Link Logistics Real Estate (“Link” or the “Company”), the owner and operator of the largest U.S.-only portfolio of logistics real estate, today announced its commitment to the Family Forest Carbon Program, an initiative developed by the American Forest Foundation (“AFF”), a national conservation organization, and The Nature Conservancy (“TNC”), the world’s leading environmental non-profit, to conserve forests, support family landowners and combat climate change. Link’s pledge of nearly $5 million will help enable the creation of carbon removal offsets, which support forest conservation projects that remove carbon from the environment, through the Family Forest Carbon Program. Link is the first real estate company to participate in this program, which is a new and forward-thinking approach to climate impact and emissions management. It targets the removal of two gigatons of carbon emissions by the end of the century by incentivizing sustainable family forest management, including preventing the deforestation and development of forest lands. Leveraging Link’s commitment, AFF and TNC intend to provide resources to family landowners that will allow them to implement improved forest management practices that will contribute to the removal of carbon from the atmosphere. Link’s commitment is anticipated to support the conservation of more than 200,000 acres of forests—an area larger than New York City’s five boroughs—while creating a new source of income for families participating in the program, empowering them to help address climate change while generating revenue from their land. “We are thrilled to support the American Forest Foundation and The Nature Conservancy on this important initiative to combat climate change and create meaningful economic opportunities for family forest landowners,” said Luke J. Petherbridge, Link’s Chief Executive Officer. “Families and individuals own the largest portion of U.S. forests, more than the federal government or corporations, but the average acreage of a family woodland is 67 acres—too small to participate in traditional carbon projects. Link’s commitment is expected to offset approximately 250,000 tons of greenhouse gases over a five-year period and help AFF and TNC prove new structures for advancing decarbonization opportunities in U.S. markets.” “This announcement represents a critical step toward realizing our goal of achieving carbon neutral operations by 2025,” said Sam Stockdale, Link’s Senior Vice President, Head of Sustainability. “Contributing to the Family Forest Carbon Program allows us to seek the most environmentally additive carbon offsets available on the market today to help actively remove carbon emissions in regions where we operate.” Offsets from the program will further Link’s commitment in its journey to achieving carbon neutral operations by 2025 and establish an innovative pathway to advance customer partnerships in achieving mutual climate goals. As companies work to reduce their carbon emissions throughout the supply chain, Link continues to invest in energy efficiency initiatives, on-site renewable energy systems and renewable energy procurement, developing new market strategies for emissions mitigation that can be leveraged by Link’s customers. Eric Duchon, Global Head of ESG for Blackstone Real Estate, added, “We are proud to work hand in hand with Link as it funds these high-quality carbon removal offsets by supporting family landowners. This initiative is in line with Blackstone’s broader focus on decarbonization that future-proofs our investments and strengthens our value proposition. We look forward to continuing our work with our portfolio companies, across sectors and geographies, to lead the way on important ESG initiatives.” To learn more about Link’s ESG program and commitments, visit Link’s ESG webpage to view and download the Company’s 2021 Environmental, Social and Governance (ESG) Report. About Link Logistics Link Logistics is a leading national owner of last-mile logistics real estate designed to meet the needs of the modern supply chain. The Company, established in 2019 by Blackstone, operates the largest portfolio of logistics real estate assets located exclusively in the U.S. As of June 30, 2022, Link serves more than 7,000 customers and owns, has interests in, or has under development logistics facilities across key distribution markets in the U.S. that will represent a total of 554 million square feet (480 million square feet at pro rata share) when completed. Link has the scale, geographic footprint and logistics expertise, as well as a heightened focus on sustainability, to power the supply chain of tomorrow. For more information regarding the Company, please visit www.linklogistics.com.
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