Corporate Governance

Our goal is to maintain transparent communications to our shareholders. Our Board of Directors makes regular, direct outreach to our investors and actively participates with our Senior Management Team in the oversight of our ESG strategy, risks and opportunities.

BOARD OVERSIGHT OF ESG


Because ESG is a critical part of our business strategy, our entire board has responsibility for ESG oversight. In recognition of the significance, attention and focus that ESG strategy requires, our board has delegated specific ESG responsibilities to each of its committees.

LEARN ABOUT BOARD OVERSIGHT RESPONSIBILITIES & RISK MANAGEMENT

RISK MANAGEMENT

Objective

Maintain an effective risk oversight process to enable the Board to monitor, evaluate and take action with respect to the company’s most important business risks.

How We Get There

Management reporting of key enterprise risks to the Board and its committees on a regular basis and distribution of oversight among the Board and its committees to ensure appropriate time and attention is devoted to each risk.

Oversight

While the Senior Management Team is responsible for the day-to-day management of enterprise risks, the Board of Directors plays an active role in overseeing management’s processes and controls to address the company’s risks.

In 2020, we responded to the GRESB Resilience Module that evaluated our organization against the Task Force on Climate- Related Financial Disclosures (TCFD) criteria and our approach to climate-related social risks.

Our GRESB Resilience Module received a score of 89 out of 100, compared to the global average of 68, demonstrating our commitment and implementation of the TCFD framework and climate resilience strategy.

We regularly evaluate potential climate-related physical, social and transition risks defined by the Task Force on Climate-Related Financial Disclosures (TCFD) to inform decisions to reduce exposure and potential risks.

SEE RISK ANALYSIS

CODE OF BUSINESS CONDUCT & ETHICS


Our board has adopted a Code of Business Conduct and Ethics, which applies to our directors, officers and employees and is reviewed and overseen by our Nominating and Corporate Governance Committee.

We train our employees on the code on an annual basis and provide additional compliance training on key topics on a rotational basis, including insider trading, antiharassment and discrimination and cybersecurity. All employees are required annually to reaffirm their compliance with the code.

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MANDATORY TRAINING

All employees must complete mandatory training annually, including

GRI DISCLOSURE

The Global Reporting Initiative (GRI) provides an integrated, cohesive set of standards that represent the global best practice for reporting on economic, environmental, and social factors. These global standards allow Empire State Realty Trust to become increasingly transparent and showcase our contribution toward a sustainable future.

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Additional Resources