INTRODUCTION
ESG OBJECTIVES AND STRATEGY
ENVIRONMENTAL
SOCIAL
GOVERNANCE
APPENDICES
4
ESRT Overview Empire State Realty Trust, Inc. (NYSE: ESRT) is a real estate investment trust (REIT) that owns and manages office, retail, and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the iconic Empire State Building — the World’s Most Famous Building — and the newly reimagined Empire State Building Observatory that was named the #1 attraction in the U.S. and #3 in the world in Tripadvisor’s 2022 Travelers’ Choice Awards: Best of the Best. As of December 31, 2022, ESRT’s portfolio is comprised of approximately 8.9 million rentable square feet of office space, 741,000 rentable square feet of retail space, and 721 residential units across three multifamily properties. 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. We promote IEQ to support tenant and employee health and well-being. Our efforts and our results enhance our properties’ competitive stance in the marketplace and protect and enhance stakeholder value. Every ESRT investment in our existing portfolio and new acquisitions is made after integrated consideration of how we can achieve measurable gains in energy efficiency, carbon emissions reduction, water efficiency, waste diversion, and healthy buildings. 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. ESRT is a global leader in energy efficiency and emissions reduction. In partnership with NYSERDA and the Clinton Global Initiative, we have authored The Empire Building Playbook: An Owner’s Guide to Decarbonization for existing commercial buildings to develop pathways to carbon reduction with proven returns on investment. We achieved carbon neutrality as of
January 2022 and plan to achieve our ultimate target of net zero emissions by 2030 at the Empire State Building and by 2035 for 100% of our commercial portfolio. We are a 2022 ENERGY STAR Partner of the Year, and 92% of our NYC portfolio and 80% of our entire portfolio is certified by ENERGY STAR, the national industry standard for energy efficiency. The Global Real Estate Sustainability Benchmark (GRESB) awarded us with a Five Star Rating and an “A” for our ESG disclosure and reporting. ESRT identifies and communicates progress toward our goals in a transparent manner consistent with GRI, SASB, and TCFD governance frameworks. SBTi has validated ESRT’s emission reduction targets consistent with a 1.5°C climate scenario, the most ambitious goal of the Paris Agreement. Our commitment to the advancement of verified scientific approaches to healthy buildings and IEQ has earned us the distinction of Fitwel Champion. ESRT partnered with the International WELL Building Institute and the Mayo Clinic and became the first commercial portfolio in the Americas to achieve the WELL Health-Safety Rating across 100% of our commercial portfolio in September 2020 and among the first to be recertified twice. We are an early adopter of the new WELL Equity Rating and have committed to WELL at Scale. We are a model for the successful implementation of comprehensive, innovative, and effective ESG policies, stakeholder engagement, and transparent reporting. Our expertise and commitment in these areas enable us to facilitate sustainable and healthy buildings within our portfolio and to share best practices to drive positive change.
EMPIRE STATE REALTY TRUST: 2022 SUSTAINABILITY REPORT
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