Letter s  Overview   Ahead of What’s Next  Sustainable Logistics   Our Inspired People  Resilient Communities   Appendix Glossary and definitions AUM: assets under management LEED: Leadership in Energy and Environmental Design Behind the meter: not connected to the local utility LGBTQIA+: lesbian, gay, bisexual, transgender or Biodiversity: variety of life transsexual, queer or questioning, intersex, asexual and all Carbon neutral: a state in which GHG emissions are offset other identities by removals Net zero: a state in which a company's Scope 1, 2 and Carbon offset: removal of GHG emissions 3 emissions have been reduced by at least 90% from a baseline year DEIB: diversity, equity, inclusion and belonging Operating portfolio: industrial properties in our Owned and Development portfolio: industrial and non-industrial Managed portfolio that have stabilized, excluding assets properties, yards and parking lots that are under held for sale development and properties that are developed but have Owned and managed portfolio: the consolidated properties not stabilized owned by our unconsolidated co-investment ventures, EEO: equal employment opportunity which we manage EHS: environmental, health and safety REC: renewable energy credit EPS: earnings per share REIT: real estate investment trust ERG: employee resource group SASB: Sustainability Accounting Standards Board ESG: environmental, social and governance SBTi: Science Based Targets initiative GHG: greenhouse gas emissions Stabilized: completed for one year or 90% occupied, GRESB: an assessment of the sustainability performance of whichever comes first real estate and infrastructure portfolios TCFD: Task Force on Climate-related Financial Disclosures ISO: International Organization for Standardization 66