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ENVIRONMENTAL
INTRODUCTION
SUSTAINABILITY OBJECTIVES AND STRATEGY
SOCIAL
POLICIES AND TRANSPARENT REPORTING
APPENDICES
ESRT Version 2.0
Introduction In partnership with NYSERDA and other NYC landlords, and supported by the Clinton Global Initiative, ESRT co-developed the Empire Building Playbook: An Owner’s Guide to Low Carbon Retrofits, published in April 2022. The Playbook provides replicable technical and economic approaches to reduce the carbon emissions of high-rise buildings and support energy and emissions reduction efforts with a measured and verified process and a target of Net Zero emissions. The Playbook demonstrates what President Clinton calls “The How.” ESRT’s detailed case studies illustrate the tools, process, technologies, financial analysis, and implementation plans to target 80% operational emissions reduction at the Empire State Building, 1333 Broadway, 1350 Broadway, 1359 Broadway, and 250 W. 57 th Street. The plans include input from experts and engineers and provide practical step-by-step guidance for all owners of large commercial buildings. Each step is illustrated by real examples and live tools from the ESRT 2.0 team’s work. In 2022, ESRT completed Net Zero studies for 100% of its NYC commercial portfolio. We continue to partner with NYSERDA to update the Playbook with additional case studies, technologies, lessons learned, and best practices. In 2023 ESRT completed Net Zero studies for our multifamily properties. An additional Playbook with technical and economic pathways to Net Zero emissions of multifamily buildings is in development in partnership with other leading multifamily owners based on the blueprint we created for ESRT’s commercial properties. We will share this multifamily Playbook in partnership with NYSERDA in 2024. In 2023, ESRT began to assemble a manufacturer’s consortium to drive the scale of modernization and decarbonization in NY in partnership with key technology providers to demonstrate the equipment and systems deliver energy efficiency, emissions reduction, and comfortable homes and workspaces with measurable payback.
Version 2.0 Playbook The Playbook marks a crucial pathway forward for owners to make their buildings compliant with the emissions caps established in NYC’s LL97 and a decarbonized future based on the CLCPA, SBTi, the Paris Agreement, and IPCC Reports. It is a free and open resource for building owners, operators, brokers, and design and engineering teams who will capture the economic benefits of energy efficiency and decarbonize the operations of their buildings. It allows real estate professionals to learn from the expertise of an industry-leading expert team at no cost.
A long-term building decarbonization plan plots a course to cost- effective carbon reduction and includes the following actions:
• Gather a team of experts • Establish a baseline and goals • Develop a calibrated model to assess the impact of projected efficiency and emissions reduction • Investigate the technical potential for energy and carbon reduction through blue sky ideation combined with disciplined engineering design and development • Perform a financial assessment of individual and groups (packages) of energy and emissions conservation measures (ECMs) in the context of an evolving thermal and electric grid; integrate projected energy and maintenance reductions, avoided fines and risk, incentives, and refined capital and implementation costs • Conduct M&V throughout implementations • Continue to share updated results
EMPIRE STATE REALTY TRUST: 2023 SUSTAINABILITY REPORT
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