NEW YORK, Jan. 20, 2022 /PRNewswire/
-- Empire State Realty Trust,
Inc. (NYSE: ESRT) announced that it is one of
four partners selected to receive a competitive grant in the first
funding round of the Empire Building Challenge, a $50 million state initiative spearheaded by
the New York State Energy Research
and Development Authority (NYSERDA) to reduce 85 percent of
greenhouse gas emissions by 2050. ESRT joins a select group of real
estate peers in this commitment to carbon neutrality goals through
investments and innovation in energy efficiency, electrification,
energy storage, and retrofit projects.
"Empire State Realty Trust is a long-standing leader in green
buildings and we are pleased to partner with them as they push to
achieve carbon neutrality across their portfolio," said
Doreen Harris, president and CEO at
NYSERDA. "Building on a widely replicated deep energy retrofit in
2009, this Empire State Building 2.0 retrofit project will help
demonstrate the business case for building decarbonization and
advance innovative technologies needed to meet the needs of all
high-rise buildings in New
York."
NYSERDA evaluated proposals based on a project's scalability and
feasibility to address the major challenges of decarbonization of
high-rise buildings, as well as the building owner's willingness
and ability to implement solutions successfully across their
portfolio of buildings. Their investment in ESRT's work will
provide "proof of concept" to implement pilots for several key
projects that are planned for replication throughout the Empire
State Building, as well as the rest of the Empire State Realty
Trust portfolio.
"The Empire Building Challenge grant is important to ESRT's
leadership work in sustainability and energy efficiency," said
Dana Robbins Schneider, ESRT's SVP,
director of energy, sustainability, and ESG. "This funding helps
our work to innovate with new technologies, create local jobs, and
accelerate progress."
After a successful deep energy retrofit at the Empire State
Building that reduced energy use and greenhouse gas emissions by 40
percent and 54 percent, respectively, ESRT continues work to
achieve its aggressive targets for net-zero carbon emissions at the
Empire State Building by 2030, and across its 10.1 million square
foot commercial portfolio by 2035. ESRT's industry-leading
work for more than a decade has proven the business case for
investment in energy efficiency and decarbonization and has been
transparently shared to inform policy with practice and to amplify
successful implementation to drive change at scale.
"We greatly appreciate the chance to partner with New York State and its support of our
continued efforts to innovate, implement, monitor, verify, and
share our work," said Anthony E.
Malkin, Chairman, President and CEO of ESRT.
More information about the Empire Building Challenge can be
found online. More information about ESRT's sustainability
achievements and future targets can be found online.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT
that owns and manages a well-positioned property portfolio of
office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. Owner of the
Empire State Building, the World's Most Famous Building, ESRT also
owns and operates its iconic, newly reimagined Observatory
Experience. The company is a leader in healthy buildings, energy
efficiency, and indoor environmental quality, and has the lowest
greenhouse gas emissions per square foot of any publicly traded
REIT portfolio in New York City.
As of Dec. 31, 2021, ESRT's portfolio
is comprised of approximately 9.4 million rentable square feet of
office space, 700,000 rentable square feet of retail space and 625
units across two multifamily properties. More information about
Empire State Realty Trust can be found
at esrtreit.com and by following ESRT
on Facebook, Instagram, Twitter and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Federal securities laws. You can identify these
statements by our use of words such as "assumes," "believes,"
"estimates," "expects," "intends," "plans," "projects" or the
negative of these words or similar words or expressions that do not
relate to historical matters. You should exercise caution in
interpreting and relying on forward-looking statements, because
they involve known and unknown risks, uncertainties and other
factors which are, in some cases, beyond ESRT's control and could
materially affect actual results, performance or achievements. Such
factors and risks include, without limitation, the current public
health crisis and economic disruption from the COVID-19 pandemic, a
failure of conditions or performance regarding any event or
transaction described above, regulatory changes, and other risks
and uncertainties described from time to time in ESRT's and ESROP's
filings with the SEC, including those set forth in each of ESRT's
and ESROP's Annual Report on Form 10-K for the year ended
December 31, 2020 and Quarterly
Report on Form 10-Q for the quarterly period ended March 31, 2021 under the heading "Risk Factors".
Except as may be required by law, ESRT and ESROP do not undertake a
duty to update any forward-looking statement, whether as a result
of new information, future events or otherwise.
View original
content:https://www.prnewswire.com/news-releases/empire-state-realty-trust-awarded-first-round-grant-in-new-york-states-empire-building-challenge-301465350.html
SOURCE Empire State Realty Trust, Inc.