ENVIRONMENTAL
INTRODUCTION
SUSTAINABILITY OBJECTIVES AND STRATEGY
CORPORATE CITIZENSHIP
GOVERNANCE AND TRANSPARENT REPORTING
APPENDICES
THE BUSINESS CASE Version 1.0 work projected an annual savings of $4.4 million and a 3.1 year payback. The Empire State Building's 2.0 energy efficiency plan selected projects projected to deliver a positive NPV of $4.35 million and a simple payback period of 6.8 years.
400000
350000
17.9%
19.8%
21.1% 20.3%
EMPIRE STATE BUILDING ENERGY SAVINGS 10 The Empire State Building is on track to achieve our energy reduction goal by 2030. The graph to the right displays the Empire State Building’s energy reduction progress as of December 31, 2024. We have reduced energy by 51% since 2007.
24.3%
25.3%
27.7%
300000
29.3%
29.9%
30.0% 27.6%
34.5%
250000
45.5%
49.2% 51.5%
49.3% 50.6%
200000
150000
100000
50000
0
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
2021 2022 2023 2024
Base Bldg Elec
Retail Elec
Broadcast
Steam
Retail Gas
0.00%
800000
7.59%
9.64% 10.27%
COMMERCIAL OFFICE ENERGY SAVINGS 10 As of December 31, 2024, the NYC commercial office portfolio has reduced energy by 41%, compared to a 2009 baseline. The graph to the right displays the energy reduction progress of the commercial office portfolio.
13.85% 16.19% 15.93%
700000
17.17% 18.94% 17.98%
22.93%
600000
37.04%
37.20%
40.10%
40.40% 40.51%
500000
400000
300000
200000
100000
0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Electricity
Fossil Fuel
10 Occupancy increased by 16.6% at the Empire State Building and 12.9% across the commercial portfolio year on year in 2024 compared to 2023. The NOAA Central Park NYC data center reported Heating Degree Days (HDDs) increased by 5% and Cooling Degree Days (CDDs) increased by 10% from 2023 to 2024. This increase in occupancy, HDDs, and CDDs contributes to increased energy and water usage and emissions. The graphs above represent absolute data which is not adjusted for weather, occupancy, tenant typology, or other variables that impact utility usage apart from efficiency initiatives.
40
2024 SUSTAINABILITY REPORT
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