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POLICIES AND TRANSPARENT REPORTING
INTRODUCTION
SUSTAINABILITY OBJECTIVES AND STRATEGY
ENVIRONMENTAL
SOCIAL
APPENDICES
Risk and Crisis Management A key part of our business and decision-making process is to maintain an effective risk oversight process to enable the company and board to monitor, evaluate, and act with respect to identified potential sustainability risks. Our senior management team is responsible for the day-to-day management of enterprise risks, including management of the company’s Enterprise Risk Management (ERM) program. Management actively identifies, monitors, and implements mitigation strategies with respect to such risks. As part of the ERM program and committee oversight responsibilities under the committee charters, management provides regular updates to the board and relevant committees.
Nominating and Corporate Governance Committee Oversees reputational and corporate governance risks, including potential conflicts of interest, director independence, and executive succession planning, as well as quarterly sustainability updates on opportunities, progress, and risk mitigation.
Audit Committee Oversees policies with respect to risk management, including cybersecurity and sustainability risks such as physical and transitional climate-related risk, and human capital.
The board has engaged an independent consultant to supplement management’s activities on the enterprise risk assessment, which rotates through each area of our activities and reports on a quarterly basis to the Audit Committee. The consultant, with the input of management, provides a heat map of the risks to identify urgency and potential impact. The board engages additional consultants as it deems necessary to investigate and prepare for new and emerging risks.
EMPIRE STATE REALTY TRUST: 2023 SUSTAINABILITY REPORT
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