The race to net zero: Let’s talk storage, sustainability & COP29 

As the climate crisis intensifies, the global effort to mitigate its impact becomes more urgent. Representatives from nearly 200 countries will meet at COP29 in Baku, Azerbaijan, from November 11-22, 2024, to address the most pressing climate challenges.  

This year’s conference will focus on four key areas: 

1. Transitioning to clean energy

2. Centering nature, people, lives & livelihoods 

3. Delivering on finance 

4. Mobilising inclusivity  

These discussions aim to create actionable solutions to reduce global warming and restore the ecological balance. 

At the heart of these discussions is the race to achieve net zero emissions by 2030, a goal critical to limiting global warming to 1.5ºC above pre-industrial levels. While governments, policymakers, and international organisations play a pivotal role in this mission, businesses and individuals also share the responsibility.  

Stor-Age has and continues to align its business practices with the four topics, that will be discussed at COP29 and the UN Sustainable Development Goals, making significant contributions to the global climate action agenda. 

Stor-Age's commitment to sustainability 

Stor-Age has made substantial progress in reducing its environmental impact by investing heavily in renewable energy. To date, we have allocated over R72 million towards solar PV installations at 65 of our self storage facilities in South Africa and the UK. These solar systems have collectively generated more than 7 million kWh of clean electricity, substantially reducing our reliance on fossil fuels.  

This investment is part of Stor-Age’s long-term strategy to transition to renewable energy, which includes the deployment of Battery Energy Storage Systems (BESS). These systems complement the solar infrastructure by storing excess energy and reducing the need for backup generators during power outages. 

Our ongoing commitment to sustainability goes beyond renewable energy investments. We have continuously explored new ways to minimise our carbon footprint and operate more sustainably, ensuring we remain a leader in global environmental business practices. 

Community focus 

In addition to our environmental initiatives, Stor-Age is committed to supporting the communities in which it operates. Over the past years alone, we have contributed over R2 million to various social responsibility initiatives. These include support for the JAG Foundation, Gift of the Givers, the Gary Kirsten Foundation, and other charities, nonprofit organisations and small businesses.  

Stor-Age also funds educational programmes like learnerships, aimed at empowering local communities and improving livelihoods. 

By investing in both environmental and social causes, our goal is to help build stronger, more resilient communities that are better equipped to mitigate the risks of accelerated climate change challenges. 

Sustainable finance 

Stor-Age has embraced sustainable finance as a core part of its overall business strategy. In 2022, we secured a Sustainability-Linked Loan (SLL) from Aviva to refinance several UK self storage facilities. The loan’s interest rate is tied to Stor-Age’s ability to meet specific environmental targets, creating a financial incentive for the company to reduce its carbon footprint.  

We have also entered into similar green finance agreements with other leading financial institutions. 

Final thoughts... 

Through our commitment to clean energy, community support, sustainable finance and inclusivity, Stor-Age is playing an active role in the global effort to address climate change and build a more sustainable future for communities across South Africa. 

Interested in learning more about our ESG initiatives? Engage with our ESG strategy here or get in touch with our team directly!