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SUSTAINABILITY OBJECTIVES AND STRATEGY
INTRODUCTION
ENVIRONMENTAL
SOCIAL
POLICIES AND TRANSPARENT REPORTING
APPENDICES
Sustainability Strategies and Components
CERTIFICATIONS Certifications for our sustainability work include a GRESB 5-Stars rating, the highest GRESB score of all Listed companies in the Americas, the highest GRESB Disclosure Score, ENERGY STAR Partner of the Year Sustained Excellence, WELL Health-Safety Rating, WELL Equity Rating, and Fitwel Champion. Since 2011, the Empire State Building is LEED EB Gold certified.
VERIFIED DISCLOSURE We comprehensively detail our efforts, published online, in our Sustainability Report and investor materials. ESRT reports in alignment with the UN SDGs, GRI, SASB, TCFD, and ISSB standards. SBTi has validated ESRT’s emission reduction targets consistent with a 1.5°C climate scenario. We report our environmental data according to the World Resources Institute’s (WRI) Greenhouse Gas Protocols.
GOALS Our goals and targets are ambitious and supported by independently verified data. We focus on six categories for our portfolio: greenhouse gas (GHG) emissions, energy, water, waste, healthy buildings, and green building certifications. We use 2018 as the baseline year to ensure our commitments with the SBTi, NYC Carbon Challenge, U.S. Department of Energy’s Better Buildings Challenge, and NYSERDA Empire Building Challenge are met or exceeded. We measure our own progress against our Net Zero and sustainability goals from a 2009 baseline year for our entire portfolio and 2007 for the Empire State Building. DATA-DRIVEN PERFORMANCE ESRT measures, manages, and evaluates performance against our goals. We use data management platforms, technologies, calibrated models, and third-party verification to provide advanced analytics and insights that inform and improve our performance. We partner with a leading energy analysis firm to review energy supply, demand, budgets, and pricing to plan accordingly for energy supply procurement and current and future renewable sources.
POLICIES & OVERSIGHT Our Board of Directors oversees our sustainability strategy, which is developed and executed by our Sustainability Committee and led by our head of sustainability. Our sustainability policies and codes of conduct apply to our employees, tenants, and vendors. We carefully develop and continuously refine our policies and standards to guide action and ensure performance and progress against our targeted goals to align with and exceed industry best practice. TENANT ENGAGEMENT Based on our calculations, we anticipate no fines through 2029 for our office and multifamily properties under New York City’s LL97. We proactively support our tenants to measure, report, and achieve their sustainability targets through environmental data, actionable recommendations for energy, water, and waste reduction, ROI-based design and guidance, and an active partnership in their sustainability journey. We engage with our tenants via quarterly town halls and education sessions focused on sustainability.
SUSTAINABILITY STRATEGIES AND COMPONENTS
EMPIRE STATE REALTY TRUST: 2023 SUSTAINABILITY REPORT
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