INTRODUCTION
SUSTAINABILITY OBJECTIVES AND STRATEGY
ENVIRONMENTAL
CORPORATE CITIZENSHIP
GOVERNANCE AND TRANSPARENT REPORTING
APPENDICES
LETTER FROM OUR LEADERS
buildings and indoor environmental quality (IEQ) to boost tenant and colleague well-being. We continue to pilot new and innovative technologies to position our assets to exceed global IEQ health and wellness standards. We drive inclusion and accountability with safety and respect for every ESRT community member. ESRT continues to perform, set new objectives, and achieve them, and do all of this with focus on our priorities. We hope you enjoy this report as much as we enjoy the challenge and accomplishment it represents.
We are pleased to share our 2024 Corporate Sustainability Report and present another year of achievement, leadership, and commitment to our shareholders, tenants, team, and community. ESRT’s priorities are to lease space, sell tickets to the Empire State Building Observatory, maintain our balance sheet, achieve our sustainability goals, and to grow our business — all to build value for our investors. Sustainability is how we do what we do, as well as a distinguishing feature of our company that creates and preserves value. The Global Real Estate Sustainability Benchmark (GRESB) ranked ESRT number one of all Listed Companies in the Americas for the second consecutive year and achieved top GRESB 5 Star rating. ESRT has led and continues to lead in sustainable and healthy building performance. When we add new properties to our portfolio, part of our underwriting analysis is how we will apply our sustainability standards, as well as our corporate social responsibility, and transparent reporting and disclosure. We work on each of our properties to apply our proven processes to make decisions based on data and science, implement measures to drive positive performance improvement, and deliver measurable returns on investment. 100% of our NYC commercial portfolio and 92% of our entire portfolio is ENERGY STAR certified. ESRT achieved ENERGY STAR Partner of the Year Sustained Excellence for the second consecutive year. We proactively engage with our tenants to align with our sustainability objectives and aid in the measurement, reporting, and achievement of their sustainability goals.
In April 2022, we published the Empire Building Playbook: An Owner’s Guide to Low Carbon Retrofits (the Playbook) in partnership with the New York State Energy Research and Development Authority (NYSERDA). In 2024, the Playbook was expanded to further demonstrate the business case for energy efficiency at large commercial and multifamily buildings and to enhance scalability and educational tools so that more owners can leverage our tools and lessons. As the first commercial portfolio in the Americas to achieve and maintain the International WELL Building Institute’s (IWBI) WELL Health-Safety Rating across 100% of our portfolio and one of the first to have our rating renewed four times, we are dedicated to the advancement of scientifically validated approaches to deliver healthy
Onward and upward.
Anthony E. Malkin Chairman and CEO
Christina Chiu President
Dana Robbins Schneider SVP, Director of Energy and Sustainability
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2024 SUSTAINABILITY REPORT
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