ESRT is Carbon Neutral! | Empire State Realty Trust
September 23, 2022
Thanks to a three-year agreement with 18 Reserves and ACT, Empire State Realty Trust’s commercial portfolio is now carbon neutral. So, what does this mean for the NYC REIT?
What is Carbon Neutrality?
Let’s start with the basics. Carbon neutrality is the concept of reducing or offsetting carbon dioxide emissions that result from human activity. Many businesses – and even governments – strive to lower and offset their greenhouse gas emissions to reduce their impact on the environment. This can be achieved through various methods which include renewable energy use and improved energy efficiency through retrofit projects.
Carbon offsets are another approach to reach carbon neutrality goals, which involves investment in projects to reduce emissions. This is where ESRT’s new agreement comes in.
How does this project aid in ESRT’s goals?
ESRT works towards energy efficiency and reduction in operational emissions within its future-ready portfolio, and through its groundbreaking work at the Empire State Building, has reduced emissions by 54% and counting. The new deal with 18 Reserves and ACT offsets ESRT’s non-electric steam and natural gas usage through preservation of 9,000 acres of biodiverse forest located near Cleveland, Ohio. ESRT previously offset its electricity with 100% renewable wind energy throughout the portfolio.
More to Come
In partnership with a more renewable grid, ESRT is set to achieve its target of net zero emissions with 80% reduction in operational emissions at the Empire State Building by 2030, and throughout the portfolio by 2035.
ESRT transparently shares its industry-leading practices in energy efficiency, emissions reduction, healthy buildings, and indoor environmental quality in its annual Sustainability Report, and regularly invests in measures to reduce the environmental impact of its portfolio.
Learn more about the project in ESRT’s official press release.
Learn more about environmental practices at ESRT!Sustainability
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