5
INTRODUCTION
SUSTAINABILITY OBJECTIVES AND STRATEGY
ENVIRONMENTAL
SOCIAL
POLICIES AND TRANSPARENT REPORTING
APPENDICES
Overview Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC- focused real estate investment trust (REIT) that owns and operates a portfolio of modernized, amenitized, and well- located office, retail, and multifamily assets. ESRT’s flagship Empire State Building — the “World’s Most Famous Building” — includes its Observatory, the #1 attraction in the U.S. in TripAdvisor’s Travelers’ Choice Awards: Best of the Best for two consecutive years. As of December 31, 2023, ESRT’s portfolio is comprised of approximately 8.6 million rentable square feet of office space, 0.7 million rentable square feet of retail space, and 727 multifamily units. ESRT’s sustainability strategy is founded on science-based initiatives to mitigate the environmental impacts of our buildings and the businesses and residents who occupy our office, retail, and multifamily properties. In execution of our strategy, we emphasize accountability and financial performance as well as attention to the health and well-being of ESRT’s employees, tenants, and the communities where we operate. Our efforts and our results heighten our properties’ competitive stance in the marketplace and protect and enhance stakeholder value. Every ESRT investment decision in our existing portfolio and new acquisitions considers how we can achieve measurable gains in energy efficiency, greenhouse gas emissions reduction, water efficiency, waste diversion, and healthy buildings. ESRT is a global leader in energy efficiency and emissions reduction. In partnership with NYSERDA and supported by the Clinton Global Initiative, we authored The Empire Building Playbook: An Owner’s Guide to Low Carbon Retrofits, a free
online playbook that charts a path for landlords, tenants, and service providers to target Net Zero emissions with measurement and verification (M&V) payback, based on our groundbreaking work at the Empire State Building and across our portfolio. ESRT has maintained carbon neutrality since January 2022 through a combination of operational emissions reduction and offsets and continues to work towards its ultimate goal of Net Zero emissions by 2030 at the Empire State Building and by 2035 for 100% of our commercial and multifamily portfolio. We have reduced emissions by 57% at the Empire State Building since 2007 and by 47% across our commercial portfolio since 2009. Based on our proactive efforts, we anticipate no fines under LL97 through 2029. We are a model for the successful implementation of comprehensive, innovative, and effective sustainability policies, stakeholder engagement, and transparent reporting. ESRT identifies and communicates progress toward our goals in a transparent manner aligned with the UN Sustainable Development Goals (SDGs), Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), the Taskforce on Climate-related Financial Disclosures (TCFD), the International Sustainability Standards Board (ISSB), and SBTi. Our expertise and commitment in these areas enable us to deliver sustainable and healthy buildings across our portfolio and to share best practices to drive positive change across NYC and globally.
EMPIRE STATE REALTY TRUST: 2023 SUSTAINABILITY REPORT
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