ENVIRONMENTAL
ESG STRATEGY
SOCIAL
GOVERNANCE
APPENDICES
INTRODUCTION
Our results are presented in five distinct packages with varying impacts on emissions and financial cases. Each package includes a specific set of incremental energy and emissions conservation measures to be implemented over a 10-15 year period in a building. Embodied carbon is key to our analysis. As defined by McKinsey & Company, embodied carbon consists of all the GHG emissions associated with building construction, including those that arise from extracting, transporting, manufacturing, and installing building materials on site, as well as the operational and end-of-life emissions associated with those materials. Equipment is reused, retrofitted, and retro-commissioned until the end of its useful life whereupon it will be replaced with the most efficient system to deliver optimal techno- economic balance between emissions reduction and IRR. Measures will also be phased to avoid disruptions to tenant comfort and align with lease terms. We modeled two different scenarios. In the first, the grid that services New York City remains “static”, as it was in 2019; in the second, grid emissions are adjusted in alignment with the CLCPA. The static grid packages results ranged from a reduction of 66.3% to 78.1% emissions reduction from the 2007 baseline year. The CLCPA scenario packages ranged from 84.4% to 92.7% reduction from the 2007 baseline year. max packages represent the maximum possible energy and emissions reduction based on what is technically possible. Packages leading up to this point represent incremental additional projects and measures to achieve reductions with associated projected economic results. The CO 2
ESRT’s working definition for carbon neutral existing buildings is that, by drastically reducing building operational emissions in partnership with a renewably sourced grid aligned with CLCPA, and offsetting residual emissions through clean energy generation and/ or RECs, through a transparent accounting and reporting process, net annual building operational carbon emissions are equal to zero. By 2030, the Empire State Building will target carbon neutrality through an 80% operational carbon reduction, achieved through a combination of energy efficiency measures, a more renewably sourced grid, and a 20% offset with off-site clean energy generation and RECs.
EMISSIONS
PROJECTED CO 2
STATIC 2019 GRID SCENARIO Packages range from 66.3% to 78.1% reduction in total emissions from 2007 benchmark year
CLCPA GRID SCENARIO Packages range from 84.8% to 92.7% reduction in total emissions from 2007 benchmark year
45000
45000
40000
40000
35000
35000
30000
30000
25000
25000
20000
20000
55.7%
55.7%
15000
15000
66.3% 68.3%
70.3% 73.3%
78.1%
10000
10000
84.8% 86.2% 88.3%
91.2% 92.7%
5000
5000
0
0
2007 + Adjustments
2019 Model
NPV Max
CO 2 Light
CO 2 Mid
CO 2 High
CO 2 Max
2007 + Adjustments
2019 Model
NPV Max
CO 2 Light
CO 2 High
CO 2 Max
CO 2 Mid
Broadcast
Office Lights Office Equip
IT Equip DHW
Retail Equip Exterior Lights
Space Heat Space Cool
Cooling Towers CHW/CW Pumps
HVAC Fans DW Pumps
Observatory Equip Elevator Load
2007 + Adjustments
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