ENVIRONMENTAL
ESG STRATEGY
SOCIAL
GOVERNANCE
APPENDICES
INTRODUCTION
Carbon Neutrality The Empire State Building (ESB) targets carbon neutrality by 2030 with an 80% operational carbon reduction, achieved through the implementation of energy efficiency and emissions reduction measures, an increasingly renewables-sourced grid in compliance with New York State’s CLCPA, and up to 20% offsets with off-site additive clean energy generation, Renewable Energy Credits (RECs), or other verifiable strategies. Owners, operators, and tenants of commercial properties must work together to meet carbon reduction targets as set forth in New York City’s Local Law 97 (LL97). Our work has proven that building interventions are required, along with planned major changes in power supply to the grid, to achieve NYC’s and international long-term targets of 80% reduction of GHG by 2050. The most impactful reduction by buildings is achieved through implementation of energy and emissions reduction measures at the asset level. Our groundbreaking deep energy retrofit at the Empire State Building, which began in 2010 has reduced GHG emissions by 54% from our 2009 benchmark. This version 1.0 work provided the real estate industry with a blueprint of what was then technically and economically possible in the built environment and was integrated into our entire portfolio. ESRT has just completed and announced in April 2022 an update of its 2009 roll-out that outlines further steps on our decarbonization roadmap, referred to as ‘ESRT 2.0’.
GOAL ESRT Carbon Neutral by 2035
ESRT’S DEFINITION OF CARBON NEUTRALITY
Reduce building operational emissions with a renewably sourced grid aligned with New York State’s CLCPA, offset residual emissions through clean energy generation and/or RECs, and report transparently, until net annual building operational carbon emissions are equal to zero.
ROADMAP TO CARBON NEUTRALITY
2007
2009
2010
2012
SEP 2007 • ESRT began development of ‘ESB 1.0’ deep energy retrofit study
APR 2009 • ESRT announced ESB 1.0 groundbreaking retrofit, and provided the industry with a free open protocol blueprint of what is technically and economically possible
DEC 2009 • ESRT established baseline for portfolio energy/GHG performance • Implemented High Performance Design and Construction Standards, requiring all ESRT build out to be built to and perform at the highest level of efficiency DEC 2009 – Present (Ongoing) • Submit for ENERGY STAR Certification and utilize ENERGY STAR Portfolio Manager to track performance • Optimize building operations through benchmarking and tracking data, energy audits, retrocommissioning and M&V • Pilot new technologies for energy efficiency and emissions reduction
JAN 2010 • ESRT
JAN 2012 • ESRT integrated operational best
purchased 100% wind electricity for the Empire State Building
practices from ESB 1.0 into portfolio standards • ESRT partnered with Urban Land Institute (ULI) to develop the Tenant Energy Optimization Program to demonstrate tenants’ role in energy reduction and proven methodology for modeling and proving the business case for sustainable tenant spaces began with Natural Resources Defense Council in 2010
• Guaranteed
• 38% energy reduction • 3.1 year payback
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