Empire State Realty Trust Achieves GRESB 5 Star Rating For Second Consecutive Year
ESRT received the second-highest score in most competitive peer group in the U.S
NEW YORK, Oct. 19, 2021 /PRNewswire/ -- Empire State Realty Trust (NYSE: ESRT) announced today that it achieved the highest possible Global Real Estate Sustainability Benchmark (GRESB) 5 Star Rating for the second consecutive year with a score of 94, a six-point increase from ESRT's first year of participation in 2020. ESRT additionally received a score of 96 – the highest in the U.S. diversified group – and an "A" rating in the Public Disclosure Assessment, which measures ESG disclosure activities.
GRESB is a rigorous standard that assesses and benchmarks the ESG performance of real assets and provides standardized and validated sustainability data to the capital markets each year. The work done to achieve ESRT's aggressive goals of net-zero carbon emissions with a focus on in-building and on premises measures – for its landmark property, the Empire State Building (ESB), by 2030 and throughout the portfolio by 2035 – has contributed to the increase to 94, which is the second-highest score within the most competitive peer group in the U.S. Other factors which aided in the notable score increase include additional performance targets for water and waste, Fitwel Certification across 6.7 million square feet – or 66 percent – of the portfolio, and transparent reporting of key DE&I and ESG goals and initiatives through its inaugural sustainability report.
"ESRT is an industry leader in sustainability and indoor environmental quality, and this important GRESB 5 Star Rating and score increase have affirmed that our ESG work is effective and continues to improve," said Dana Robbins Schneider, SVP, director of energy, sustainability, and ESG at Empire State Realty Trust. "ESRT is happy to achieve this significant distinction for the second year in a row and will continue to report best practices and set the industry standard."
Empire State Realty Trust's portfolio consists of 10.1 million rentable square feet of office and retail space in New York City and the greater New York metro area. The groundbreaking deep energy retrofit at the Empire State Building propelled ESRT to the forefront of sustainability and premier indoor environmental quality, which includes MERV 13 filters, active bi-polar ionization, and CO2 sensors. ESRT's portfolio provides tenant spaces in healthy buildings with energy efficiency and industry-leading environmental quality at a significantly lower price point per square foot than competitors. The landmark's Observatory Experience underwent a $165 million reimagination in 2019, which included 10 thousand square feet of immersive digital and tactile exhibits; a brand new 102nd Floor Observatory with unobstructed views through floor-to-ceiling windows; and industry-leading indoor environmental quality for visitor confidence.
More information about Empire State Realty Trust can be found online.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT) owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the "World's Most Famous Building." The company's office and retail portfolio covers 10.1 million rentable square feet, as of June 30, 2021, which consists of 9.4 million rentable square feet across 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; as well as approximately 700,000 rentable square feet in the retail portfolio.
Empire State Realty Trust is a leader in energy efficiency in the built environment and sustainability space, with 76 percent of the eligible portfolio ENERGY STAR certified and 100 percent fully powered by renewable wind electricity. As the first commercial real estate portfolio in the Americas to achieve the evidence-based, third-party verified WELL Health-Safety Rating for health and safety, ESRT additionally earned the highest possible GRESB 5 Star Rating and Green Star recognition for sustainability performance in real estate and was named a Fitwel Champion for healthy, high-performance buildings. To learn more about Empire State Realty Trust, visit esrtreit.com and follow ESRT on Facebook, Instagram, Twitter and LinkedIn.
Category: ESG
SOURCE Empire State Realty Trust, Inc.
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