ESG OBJECTIVES AND STRATEGY
INTRODUCTION
ENVIRONMENTAL
SOCIAL
GOVERNANCE
APPENDICES
8
ESRT ESG Strategies and Components
CERTIFICATIONS We have pioneered practices in energy efficiency retrofits in the existing built environment. Based on our calculations, we anticipate no fines through 2029 for office properties under New York City’s LL97. Certifications for our sustainability work include a GRESB Five Star rating, ENERGY STAR Partner of the Year, WELL Health-Safety Rating, and Fitwel Champion. We were selected to receive a $5 million grant in the first funding round of the Empire Building Challenge and a $50 million state initiative spearheaded by NYSERDA to reduce greenhouse gas.
DISCLOSURE ESRT publicly discloses comprehensive details across all aspects of our ESG efforts. This includes transparent communications with our shareholders, tenants, and the public. Our ESG efforts are detailed throughout our investor materials and published online. We report our environmental data according to the World Resources Institute’s (WRI) Greenhouse Gas Protocols and leverage rigorous certifications to measure our performance against national and global industry standards and benchmarks.
ESG POLICIES Our Board of Directors, in coordination with ESRT senior management, oversees the creation of internal and external ESG policies and codes of conduct so that employees, tenants, vendors, investors, and other stakeholders understand how ESG aligns with business practices and implementation and relates to risks and opportunities. Industry frameworks guide our strategy, goals, and evaluation procedures. We carefully develop and continuously refine our policies and standards to guide action and ensure performance and progress against our targeted goals.
GOALS & ACCOMPLISHMENTS In 2022, ESRT conducted an in-depth goals and targets exercise to ensure that our goals were ambitious and supported by independently verified data. We focused on six categories for our portfolio: greenhouse gas (GHG) emissions, energy, water, waste, IEQ, and green building certifications. To develop and establish these goals, we used 2018 as a baseline year to ensure that our goals met or exceeded our existing commitments, such as NYC Carbon Challenge, U.S. Department of Energy’s Better Climate Challenge, and Empire Building Challenge. We also aligned our targets with industry standards and frameworks, including the UN SDGs, where possible.
ESRT ESG STRATEGIES AND COMPONENTS
TENANT ENGAGEMENT ESRT is an asset to our tenants through space choice and a landlord- tenant partnership that produces positive sustainable and economic results. Our hands-on engagement is a differentiator and service to our tenants. We proactively support our tenants to measure, report, and achieve their sustainability targets through ESG data, actionable recommendations for energy reduction, ROI-based design and construction, and an active partnership in their sustainability journey. In addition, we engage with our tenants via quarterly town halls and education sessions focused on sustainability.
DATA-DRIVEN PERFORMANCE ESRT measures, manages, and evaluates performance against our goals. We use data management platforms, technologies, and third-party verification to provide advanced analytics and insights that inform and improve our performance. We partner with a leading energy analysis firm to review energy supply, demand, budgets, and pricing to plan accordingly for energy supply and current and future renewable sources.
EMPIRE STATE REALTY TRUST: 2022 SUSTAINABILITY REPORT
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