Empire State Realty Trust

Empire State Realty Trust

Empire State Realty Trust’s portfolio consists of 14 office properties and six standalone retail properties totaling approximately 10.1 million rentable square feet. Nine office properties are located in midtown Manhattan, including the Empire State Building, the world’s most famous building. The other five office properties are located in Fairfield County, Connecticut and Westchester County, New York. The six retail properties are located in Manhattan and in the city center of Westport, Connecticut.


PORTFOLIO-WIDE LEADERSHIP COMMITMENTS

50% GHG reduction in 10 years
20% reduction in Energy Intensity

20% reduction in Water Intensity
75% Waste Diversion


EMPIRE STATE REALTY TRUST IS PARTICIPATING IN THE FOLLOWING DOE PROGRAMS:

Better Climate Challenge   Better Buildings Challenge   Better Buildings Alliance
Low Carbon Pilot   Waste Reduction Pilot

Empire State Realty Trust has a commitment to integrated portfolio-wide strategies for environmental, social and governance (“ESG”) initiatives. ESG principles play an important role in their capital allocation, innovation process and the way in which they interact with their stakeholders. Disclosure about their ESG practices allows their stockholders to see their company holistically and understand its trajectory beyond fundamentals and financial metrics. 

Their sustainability initiatives are a critical component of their commitment to corporate responsibility. Their focus is on facts reported clearly, and their innovation in sustainability gives them a competitive edge as they compete to lease space to quality tenants, and thus improve stockholder value.

Empire State Realty Trust integrates strategies for energy efficiency and sustainability across their entire portfolio. They have requirements in their buildings for practices to enhance the health and wellness of their building occupants during design, construction, operations and maintenance. Their sustainability program is structured around quantifiable improvement in key areas, including: energy efficiency, water efficiency, recycling and waste diversion and healthy work environments for their tenants and employees (indoor environmental quality, or “IEQ”). Key performance indicators allow them to measure the success of their sustainability efforts.

Empire State Realty Trust implement this work throughout their entire portfolio. Their team of experts conducts on-going monitoring, verification and Tenant Energy Management (TEM) analytics. Based upon the latest methodology, which is far more stringent based on updates to ENERGY STAR benchmarking data and methodology as of August 2019, 76% of their eligible office portfolio measured by square feet is ENERGY STAR Certified. ENERGY STAR-certified buildings meet strict energy performance standards set by the Environmental Protection Agency. They use less energy, are less expensive to operate, and have a reduced impact on the environment. Empire State Realty Trust also completed a groundbreaking deep energy retrofit project at the Empire State Building, which serves as the leading global model demonstrating the business case for deep energy retrofits. All of these projects are in support of New York City's carbon reduction goal to reduce greenhouse gas emissions 80% by 2050, with the interim target of 40% reduction by 2030.

Climate Challenge Commitment
10.1Million Square Feet
Buildings Challenge Commitment
10.1Million Square Feet
GHG Emissions Goals
50%Reduction in Scope 1 & 2 Emissions
Progress
Energy Goals
20%Reduction in Energy Intensity
Progress
15%Cumulative (vs. Baseline)
Water Goals
20%Reduction in Water Intensity
Progress
52%Cumulative (vs. Baseline)