GOVERNANCE AND TRANSPARENT REPORTING
INTRODUCTION
SUSTAINABILITY OBJECTIVES AND STRATEGY
ENVIRONMENTAL
CORPORATE CITIZENSHIP
APPENDICES
GREEN FINANCE In 2024, ESRT announced its issuance of an aggregate principal amount of $225 million of green senior unsecured notes in a private placement transaction with maturities ranging from 2029 through 2034. The notes were issued pursuant to ESRT’s Green Financing Framework (the “Framework”), which further expands the financial impact of our sustainability strategy and our environmental commitments. Eligible projects include those focused on energy efficiency, green building certifications, renewable energy development and procurement, pollution prevention and control, climate change adaptation, water and wastewater management, and clean transportation. ESRT commissioned S&P Global to conduct an external review of its Green Financing Framework under the Shades of Green methodology. S&P Global issued a Second Party Opinion (SPO) on our Framework’s environmental credentials and its alignment with the Green Bond Principles of 2021. ESRT’s Green Financing Framework received a Medium Green rating. Additionally, ESRT established a Green Finance Committee composed of senior leaders. The committee monitors eligible green projects, and reviews and approves the Green Finance Allocation Report. ESRT intends to prepare an annual Green Finance Allocation Report for the green projects issued under its Green Financing Framework annually until all net proceeds have been fully allocated. ESRT also has a sustainability component to its credit facility with Bank of America, N.A. as administrative agent. The credit facility contains a provision whereby the facility’s pricing can improve upon the company’s achievement of certain sustainability metrics. This further demonstrates ESRT’s commitment to sustainability and gives the company an additional incentive to achieve its sustainability goals.
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2024 SUSTAINABILITY REPORT
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