ESG OBJECTIVES AND STRATEGY
INTRODUCTION
ENVIRONMENTAL
SOCIAL
GOVERNANCE
APPENDICES
13
Materiality and Stakeholder Engagement
In 2021, we conducted a materiality assessment to inform our ESG strategy and ensure the prioritization of the ESG topics most important to our company and stakeholders. We considered the perspectives and expectations of stakeholders, including tenants, investors, brokers, employees, shareholders, members of our Board of Directors, and industry peers. We consistently monitor and evaluate ESG issues, business needs, and stakeholder expectations. These topics remained relevant to our business and our stakeholders throughout 2022. We plan to conduct materiality assessments every three years to assess and align with shifts in circumstances and stakeholder priorities. Our board’s activities are supported by our senior management team, including our SVP, Director of Energy, Sustainability, and ESG, who provides the board with quarterly ESG updates, and our employee-led Sustainability Committee. ESRT’s Sustainability Committee meets quarterly and includes ESRT’s Chairman, President, and CEO; Chief Operating Officer (COO) and Chief Financial Officer (CFO); executives for leasing, property construction, and property management; and members of the legal, marketing, and investor relations teams. Actions and strategies approved by the committee are executed by sustainability, engineering, and property management teams across ESRT’s portfolio.
We have an employee-led Inclusion committee that works with a third-party consultant, the ESRT human resources, ESG, and legal teams, and others within the company to assess and plan internal DEI training and initaitives.
To ensure direct accountability and a continued sustainability focus, we have adopted ESG metrics as part of executive management incentive compensation, both as part of annual bonus and performance-based equity awards.
EMPIRE STATE REALTY TRUST: 2022 SUSTAINABILITY REPORT
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