ENVIRONMENTAL
INTRODUCTION
ESG OBJECTIVES AND STRATEGY
SOCIAL
GOVERNANCE
APPENDICES
39
Introduction Since March 2020, in partnership with NYSERDA and supported by the Clinton Global Initiative, ESRT co-developed the Empire Building Playbook: An Owner’s Guide to Low Carbon Retrofits, which was released 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 within the industry with proven ROI. It details ESRT’s retrofit experience at the Empire State Building, 1333 Broadway, 1350 Broadway, 1359 Broadway, and 250 West 57 th Street, which includes input from experts and engineers and provides practical step-by-step guidance for all owners of large commercial buildings. In 2022, ESRT completed net zero studies for 100% of its NYC commercial portfolio. These case studies will be added to the Empire Building Playbook in 2023. The Playbook will continue to be updated with additional case studies, technologies, and best practices and is available online at nyserda.ny.gov/ebcplaybook. ESRT began analysis for expansion of this Playbook to include technical and economic pathways to decarbonization of multifamily buildings in January 2023 based on the blueprint we created for ESRT 2.0. We intend to share these case studies and this multifamily Playbook openly in partnership with NYSERDA in 2023. ESRT will also complete net zero studies for our Connecticut commercial portfolio in 2023. New York State and New York City have passed legislation that commits the grid and the built environment to a net zero future. In response to this legislation, we proactively identified the need to understand the business case and possible technical pathways to decarbonize our portfolio in alignment with LL97, CLCPA, SBTi, and our decarbonization goals. Each step is illustrated by real examples and live tools from the ESRT 2.0 team’s work. ESRT Version 2.0
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 global Science Based Targets. The Playbook is a free and open resource for building owners, operators, brokers, and design and engineering teams who want to 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. 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. • Thoroughly investigate the technical potential for energy and carbon reduction. • Perform a financial assessment of individual and groups (packages) of energy and emissions conservation measures (ECMs) in the context of an evolved thermal and electric grid; integrate projected energy and maintenance reductions, avoided fines and risk (such as LL97 fines), incentives, and refined capital and implementation costs.
EMPIRE STATE REALTY TRUST: 2022 SUSTAINABILITY REPORT
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