ENVIRONMENTAL
ESG STRATEGY
SOCIAL
GOVERNANCE
APPENDICES
INTRODUCTION
Goals and Targets
In 2021 ESRT conducted an in-depth goals and targets exercise to ensure our goals are ambitious and supported by independently verified data. We focused on six categories for our portfolio: GHG emissions, energy, water, waste, and ENERGY STAR and green building certifications. To develop and establish these goals, we used 2018 as a baseline year to ensure goals met or exceeded our existing commitments such as NYC Carbon Challenge, US Department of Energy’s Better Climate Challenge and Empire Building Challenge. We also aligned our targets with industry standards and frameworks where possible, including the United Nations Sustainable Development Goals (UN SDGs).
ENERGY
GHG EMISSIONS
Energy and Atmosphere Ensure access to affordable, reliable, sustainable and modern energy for all
Climate Action Take urgent action to combat climate change and its impacts
• Target a reduction of energy use intensity by 20% by 2024 as part of the U.S. Department of Energy’s Better Buildings Challenge • ESRT offsets 100% of the electricity used in the portfolio through clean wind power RECS • Nation’s largest 100% user of green power in real estate per EPA Green Power Partnership report given that 100% of our portfolio is covered by renewables • #1 most efficient REIT in NYC based on kgCO 2 e per square foot per Green Street November 24, 2021 Report (documenting 2020 data)
• Target net-zero carbon emissions by 2030 at the Empire State Building and across our portfolio by 2035 • W ork to identify pathways to exceed NYC goals to reduce GHG emissions 40% by 2030 and 80% by 2050 • Intend to meet the Empire Building Challenge and
commit to leadership at a statewide level to achieve 85% local emissions reduction by 2035 in partnership with the grid
GOAL*: 50% site energy reduction by 2035 2021 PROGRESS: ON TARGET ENERGY USE INTENSITY (kBtu/ft 2 ) 58 57 66 2021 2020 2019
GOAL*: Carbon Neutrality by 2030 for Empire State Building, and by 2035 for
Science Based Targets Initiative In 2021 we publicly committed to the Science Based Targets initiative (SBTi); a reporting framework aligned with the latest climate science guidance towards meeting the goals of the Paris Agreement. We received SBTi alignment approval in 2021 which validates through accredited global third-party experts that our targeted reduction for GHG emissions supports reduction pathways to limit global temperature rise to 1.5C. Few real estate companies have made this aggressive commitment. We intend to demonstrate these ambitious goals are technically achievable and economically advantageous in our industry.
the office portfolio 2021 PROGRESS: ON TARGET
GREENHOUSE GAS EMISSIONS INTENSITY (kgCO 2 e/ft 2 )
4.77
2021
4.21
2020
5.18
2019
* All goals and targets represent like-for-like comparisons for assets owned for 24 consecutive months across the current and previous reporting year. 2020 and 2021 energy use outcomes were impacted by low building utilization rates during the COVID-19 pandemic, and thus are not representative of consumption at full occupancy.
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