SL GREEN REALTY CORP. 2019 SUSTAINABILITY REPORT
The Bigger Picture SL Green recognizes climate change as a significant envi- ronmental challenge to the continued economic vibrancy of New York City. The IPCC (Intergovernmental Panel on Climate Change) suggests that in order to slow rising global tempera- tures, greenhouse gas emissions must be reduced. In response, New York City has committed to reduce greenhouse gas emissions 80% by 2050 , with an interim reduction of 40% by 2030 . As the largest commercial office owner in New York City, SL Green is committed to reducing greenhouse gas emissions across our portfolio. Real estate assets generate both direct and indirect greenhouse gas emissions through base building operations. Direct emis- sions (Scope 1) are generated onsite from fossil fuels used for heating and hot water. Indirect emissions (Scope 2) are generated offsite from steam and electricity supplied by local utilities. In addition to emissions generated to support base building operations, tenant energy consumption (Scope 3) contributes to the overall carbon footprint of a building. SL Green reduces Scope 1 and Scope 2 greenhouse gas emis- sions by optimizing building operations, implementing intensive energy management, and deploying capital investment in state-of-the-art equipment. But our emission reduction strategy goes beyond those under our direct control— we equip our tenants with tools to achieve Scope 3 energy reductions within their spaces. EMISSIONS MANAGEMENT
IN NEW YORK CITY, 67% OF GREENHOUSE GASES ARE EMITTED FROM BUILDINGS USING NATURAL GAS, ELECTRICITY, FUEL OIL, AND STEAM.
Tenant Engagement Strategy
CARBON REDUCTION TARGETS NYC Mayor’s Carbon Challenge SL Green voluntarily participates in the New York City Mayor’s Carbon Challenge. We identified a selection of properties across 8 million square feet and have committed to a 30% reduction in Scope 1 and Scope 2 greenhouse gas emissions intensity over a 10-year period. CDP - Carbon Disclosure Project We voluntarily participate in CDP (formerly known as the Carbon Disclosure Project), an annual investor survey on climate change, which evaluates company performance and risk management strategies. To demonstrate our com- mitment to emissions management, we established a portfolio-wide green- house gas intensity reduction goal of 30% by 2025 for Scope 1, Scope 2, and Scope 3 emissions. 30% Reduction in SL Green’s greenhouse gas emissions intensity by 2025
Best Practices Data Sharing Education Energy Audits Tenant Build-Out Guidelines Utility Incentives Result in Scope 3 Emission Reductions
SPACE HEATING FUEL OIL, NATURAL GAS, STEAM | SCOPE 1&2
SPACE COOLING ELECTRIC, STEAM SCOPE 2&3
DOMESTIC WATER NATURAL GAS SCOPE 1
FANS ELECTRIC | SCOPE 2&3
PUMPS ELECTRIC | SCOPE 2&3
PLUG LOADS ELECTRIC | SCOPE 3
LIGHTING ELECTRIC | SCOPE 3
ELEVATORS ELECTRIC | SCOPE 2
COMPUTERS ELECTRIC | SCOPE 3
SCOPE 1 Direct Emissions 10,346 tCO 2 e (Includes 3,521 Tons from Refrigerants) SCOPE 2 Indirect Emissions 94,323 tCO 2 e SCOPE 3 Tenant Emissions 49,616 tCO 2 e
FUEL OIL 8,787 MMBTU NATURAL GAS 119,090 MMBTU
STEAM 727,046 MMBTU ELECTRIC 161,313 MWh
SEP 2014 Mayor de Blasio commits New York City to 80% reduction in greenhouse gas emissions by 2050, with a 2005 baseline. JUL 2015 Governor Cuomo sets 80% greenhouse gas reduction target for New York State by 2050, with a 1990 baseline.
OCT 2016 SL Green commits to 30% reduction in greenhouse gas emissions as a voluntary participant in the New York City Mayor’s Carbon Challenge. AUG 2018 SL Green expands emissions reduction target across entire portfolio.
OCT 2030 New York City’s Climate Mobiliza- tion Act (CMA) sets a 40% reduction target for citywide emissions, and New York State’s Climate Leadership and Community Pro- tection Act (CLCPA) sets a 40% reduction target for statewide emissions by 2030.
2050 New York City’s CMA sets an 80% reduction target for citywide emissions, and New York State’s CLCPA sets an 80% reduction target for statewide emissions by 2050.
Emissions Reduction Timeline
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