Better Health for All

The company's core self-storage operations do not directly involve healthcare services, resulting in a neutral net health impact and no revenue from products with negative health outcomes. In 2023, the company invested $24 million in solar installations

, achieving a 4.1% reduction in greenhouse gas emissions intensity and a 7.7% reduction in energy use intensity per square foot , with carbon intensity 79% lower than the real estate sector average , contributing to positive health externalities. During the COVID-19 pandemic in 2020, it made significant contributions by donating over 10,000 N95 masks and offering two months of free storage nationwide to hospitals, medical professionals, and first responders . For employee well-being, the company provided substantial mental health support through a Diversity & Inclusion Committee established in 2023 to foster an inclusive workplace and reduce stress. It also offered individualized health counseling and access to childcare and elder care services , with approximately 56% of health plan-enrolled employees engaging in wellness programs in 2023 that included smoking cessation and fitness reimbursements .

Fair Money & Economic Opportunity

Extra Space Storage Inc. is a real estate investment trust (REIT) that owns and operates self-storage facilities, generating revenue primarily from rental income. Its core business involves storing physical goods, not providing financial services such as lending, insurance, or money storage. Therefore, the company's operations do not fall within the scope of the "Fair Money & Economic Opportunity" value, which assesses financial institutions on their lending, deposit, and other money-related services. The provided articles discuss diversity and inclusion initiatives

, and sustainability efforts , which are not relevant to the specific financial KPIs of this value. Consequently, all KPIs related to financial products and services are not applicable to Extra Space Storage Inc.

Fair Trade & Ethical Sourcing

The provided articles do not contain specific, quantifiable evidence for any of the KPIs under the 'Fair Trade & Ethical Sourcing' value. While Extra Space Storage has a Human Rights Policy

and a Vendor Code of Conduct outlining commitments against child and forced labor , , and for ethical business conduct with suppliers , no data is provided on the percentage of supplier contracts that include enforceable ethical-sourcing clauses , , , the frequency of supplier audits , , , or the number of substantiated forced or child labor incidents , , . Information regarding fair-trade certified spend, traceability coverage, remediation speed for supplier violations, materials risk index, or supplier diversity spend is also absent , , .

Honest & Fair Business

Extra Space Storage Inc. has 90% independent board members.

The company's Code of Business Conduct and Ethics promotes honest and ethical conduct, compliance with laws, and accountability. In 2023, it was recognized with the National Association of Real Estate Investment Trusts (NAREIT) award for "Communications and Reporting Excellence" and the Nareit CARE award for transparent communication. It has also received the Nareit 'Leader in the Light' award for three consecutive years for superior sustainability practices and is consistently recognized by GRESB for its ESG initiatives, financial transparency, and robust auditing. In 2023, field employees received an average of 22 hours of training, while new hires averaged 82 hours, reinforcing ethical conduct. The company achieved a 92% overall customer satisfaction score in 2023.

Kind to Animals

Extra Space Storage Inc. is a real estate investment trust operating self-storage facilities. Its business model does not involve animal-derived products, animal testing, animal agriculture, or direct animal-related operations. Therefore, KPIs related to cruelty-free certifications, animal testing, ethical sourcing, humane operations, and animal agriculture are not applicable. While the company's sustainability initiatives are noted to contribute indirectly to wildlife protection

, the provided evidence lacks specific, measurable biodiversity impacts, species recovery metrics, or habitat restoration outcomes required to score the wildlife conservation impact KPI. They have also completed LED lighting retrofits at 159 stores in 2023, investing $1.5 million to improve energy efficiency . The company achieved a 4.1% reduction in greenhouse gas emissions intensity per square foot in 2023, marking a continual decrease over five years . Extra Space Storage has implemented solar energy investments, with solar panels on 33% of properties generating 46.3 gigawatt-hours .

No War, No Weapons

Extra Space Storage does not engage in active peace-building initiatives. Its core business as a self-storage Real Estate Investment Trust (REIT) inherently avoids military or conflict-related industries, resulting in 0% revenue from arms or defense contracts.

This business model means the company has no defense business to oversee, no exports requiring certification, no operations in conflict-affected regions, no AI used militarily, no human-rights risk exposures, no dual-use portfolio, no surveillance activities, no weapons red lines, no exposure to any weapons, no war-risk audits, no conflict-linked partners, no defense assets to divest, no mineral inputs, no applicable technology development, no conflict zone procurement, and no applicable ethical red lines.

Planet-Friendly Business

The company's GHG emissions target is based on SBTi 1.5C scenario criteria but has not been submitted for validation.

In 2024, 6.9% of operational energy was sourced from solar production, and 1% of the portfolio's square footage is LEED certified. Waste diversion to recycling centers was 14.6% in 2024. The company engages in minimal biodiversity efforts, such as seeking to xeriscape and partnering to plant trees. It also participates in community solar programs in New Jersey, providing discounted energy to low-income households. The company has achieved six consecutive years of GHG reduction, with an 8.3% intensity reduction in 2024, and operates with 78.9% less carbon emissions than the real estate sector average. It has also achieved a 24.8% reduction in water consumption intensity and a 20.3% reduction in energy consumption intensity against 2025 targets. In 2024, investments included $30.1 million in solar installations, $13 million in HVAC retrofitting, and $3.3 million in lighting retrofits.

Respect for Cultures & Communities

Extra Space Storage has established 3 formal partnerships, including one with the Indian Pueblo Cultural Center, and others with Ticket to Dream and Solar Landscape.

The company has no reported cultural appropriation incidents. Its operations, primarily self-storage, do not appear to involve activities that would necessitate Free, Prior, and Informed Consent (FPIC) processes or pose a risk of cultural site disruptions.

Safe & Smart Tech

A class action lawsuit filed in May 2024 alleges that Extra Space Storage allowed TikTok to track website users without consent, potentially violating privacy laws.

The company's 2024 Annual Report outlines a cybersecurity risk management program, which includes regular third-party assessments, a dedicated security team, external assessments, end-user testing, and employee awareness training. It also details a cybersecurity Incident Response Plan and a third-party risk management process. The management team has over 25 years of experience and certifications like CISSP, and the company carries cybersecurity insurance. Extra Space Storage utilizes AI in operations for dynamic pricing, inventory management, smart facility management, security monitoring, and personalized user experience. In 2023, the company invested $12.7 million in security infrastructure, which includes video surveillance in 98.6% of facilities, biometric access control in 76.2% of facilities, motion sensor systems in 85.4% of facilities, and perimeter alarm systems in 92.1%.

Zero Waste & Sustainable Products

Extra Space Storage demonstrates exceptional material efficiency, with waste production of 1.36 kg/m2, which is 85.6% better than the real estate sector average of 9.46 kg/m2.

The company has implemented several waste reduction initiatives, including transitioning to digital lease forms and manuals, saving over 20 million sheets of paper annually. They also provide water filling stations with reusable cups at corporate headquarters, partner with Waste Management for waste sorting and recycling, and are experimenting with environmentally-friendly lock packaging materials. These efforts contributed to a 7.8% reduction in non-recyclable waste intensity in its like-for-like pool in 2024. Extra Space Storage has set a target to decrease like-for-like non-recyclable waste intensity by 50% by 2025, using 2018 as a baseline year. However, the company's waste diversion rate was 14.6% in 2024. Furthermore, Extra Space Management, Inc. faces an alleged violation of the Safe Drinking Water Act for operating a Large Capacity Cesspool in Hawaii, which was banned in 2005, resulting in a proposed penalty of $130,000.