18
ENVIRONMENTAL
INTRODUCTION
SUSTAINABILITY OBJECTIVES AND STRATEGY
SOCIAL
POLICIES AND TRANSPARENT REPORTING
APPENDICES
Environmental Impact Goals and Reporting In 2023, ESRT conducted an in-depth goals and targets exercise to ensure that our objectives were ambitious and supported by independently verified, science-based data. We focused on six categories for our portfolio: emissions, energy, water, waste, health and well-being, and green building certifications. ESRT submits to GRESB annually and is globally recognized in leadership, policy, reporting, stakeholder engagement, targets, tenants and community, data monitoring and review, and building certification categories. To develop our goals, we use 2009 as a baseline year for our entire portfolio and 2007 for the Empire State Building and ensure that goals meet or exceed our existing commitments, such as SBTi, NYC Carbon Challenge, U.S. DOE’s Better Climate and Better Buildings Challenges (including Net Zero Emissions, Water Goal Achiever, and Net Zero Waste Pilots), and the Empire Building Challenge. The reporting boundary includes 16 properties owned and controlled by ESRT as of December 31, 2023. We include all properties owned by ESRT and all Scope 1, Scope 2, and Scope 3 downstream leased assets energy, utility, and emissions data known to us in these disclosures. GHG Emissions Intensity is determined using location-based emissions for the NYC region for Scopes 1, 2, and 3. Sharp increase in 2023 emissions are due to increased eGRID factors 28.61% from 2020 to 2022 which are now reflected in our 2023 emissions.
2023 PROGRESS: ON TRACK GREENHOUSE GAS EMISSIONS INTENSITY 3 (kgCO2e/ft2)
GOAL:
Climate Action Take urgent action to combat climate change and its impacts
• Achieve Net Zero, 80% operational emissions reduction, at the Empire State Building by 2030 and across the entire portfolio by 2035 • Maintain carbon neutrality across entire portfolio • Meet the Empire Building Challenge and commit to leadership at a statewide level • Achieve SBTi emissions reduction targets consistent with 1.5˚C climate scenario
by 2030 for Empire State Building and by 2035 for entire portfolio Net Zero
GHG EMISSIONS
5.8
4.77
4.99
4.41
1.16
2009
2021
2022
2023
2035
3 E SRT commercial office utilization increased approximately 30% over a five-day average (Monday–Friday) and three-day average (Tuesday–Thursday) in 2023 compared to 2022. This occupancy increase contributes to increased emissions, energy and water usage, and waste generation. The data above represents the utility usage of our office and multifamily portfolio. Data is absolute, and is not normalized for weather, occupancy, or other variables which impact usage and are not based on the impacts of efficiency efforts. GHG Emissions Intensity is determined using location-based emissions for the NYC region for Scopes 1, 2, and 3. Sharp increase in 2023 emissions are due to increased eGRID factors 28.61% from 2020 to 2022 which are now reflected in our 2023 emissions. When we adjust 2022 emissions retroactively to reflect the updated eGRID emissions factor for 2022, 2022 emissions intensity becomes 5.49kgCO2e/ft2 resulting in a 9.1% decrease from 2022 to 2023. Portfolio goals use a 2009 baseline year unless otherwise stated. Empire State Building initial calibrated energy model is based on full year 2007 data.
EMPIRE STATE REALTY TRUST: 2023 SUSTAINABILITY REPORT
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