Corporate Responsibility | CubeSmart, L.P.

Our Commitment

At CubeSmart, our mission is to simplify the challenges our customers face through our innovative solutions, our commitment to customer service, and by treating them with genuine care. To deliver on our mission, day-in and day-out, we are committed to the sustainable growth of our business. To us, it’s about creating value for all of our stakeholders and corporate sustainability is key to ensuring long-term stability and growth.

Performance

14.2%

Energy Consumption reduction vs. 2019

20.7%

Water Consumption reduction vs. 2019

20.6%

GHG Emissions reduction vs. 2019

7.8MWh

Renewable Energy Generation (+72% since 2019)

Environmental Commitment

At CubeSmart, we are focused on minimizing the impact we make on the environment. Self-storage remains an exceptionally low-impact business as it consumes less energy and water while emitting fewer greenhouse gases than other real estate property types.

Solar: Our solar program reduces our carbon footprint through the production of renewable energy while also producing attractive financial returns. In 2021, we completed 10 solar installations, bringing us up to 93 owned properties with operating solar panels.
HVAC Upgrades: From 2019-2021, we upgraded all of our HVAC systems to equipment that meets Energy Star requirements and eliminates the use of R22 refrigerant which produces elevated CFC emissions.
High Efficiency Lighting: Since 2015, we replaced the exterior lighting with energy efficient upgrades. Over the next three years, we plan to replace interior lighting at over 170 stores to energy efficient LEDs.
Energy Management Systems: At 88 stores with elevated energy usage, we have installed energy management systems to monitor and automate the stores interior temperature and energy usage.
Paper Reduction: Through technological advancements, including our SmartRental online lease, we have reduced paper and toner usage by over 50% at our stores.

Social Commitment

Self-storage is a hyper-localized business and our goal is to provide strong support for our teammates and leave a positive impact on the communities in which we operate.

Our people are the key to our business, as our approximately 3,000 teammates around the country are responsible for providing our award-winning service to our customers. We believe celebrating & supporting diverse perspectives makes our business better. Our Policy on Equal Employment Opportunity and our Philosophy Regarding Respect in the Workplace have supported our culture of inclusion and collaboration where every teammate can feel comfortable bringing their unique backgrounds and attributes to work every day. We believe in building from within so we provide structured training programs to develop new leaders, allowing us to promote 390 teammates to new roles in 2021. We are focused on teammate engagement and our annual engagement survey showed that we placed in the 60th percentile for engagement nationally across the 91% of teammates that responded. We provide a competitive benefits program to promote and support the health and wellbeing of our teammates.

We are focused on providing high-level service to our customers and their feedback is a key component to ensuring that we continue to serve them in the best way possible. We also want to be good citizens in the neighborhoods in which we operate so we look for opportunities to positively contribute through volunteer work and provide paid time off to our teammates to participate in these activities.

Governance Commitment

We remain committed to strong corporate governance practices and the highest ethical standards, ensuring accountability while effectively managing risk. The Board of Trustees Corporate Governance Guidelines along with our Code of Business Conduct & Ethics highlight the principles that foster sustained shareholder, business partner, and customer confidence.