Empire State Realty Trust Achieves Carbon Neutrality for Commercial Portfolio
Empire State Realty Trust, Inc. (ESRT) said it had achieved carbon neutrality for its 9.9-million-square-foot commercial portfolio through a combination of building energy-efficiency retrofit work and a new three-year agreement with 18 Reserves and ACT. The agreement preserves close to 9,000 acres of biodiverse forest that will offset 100% of ESRT’s non-electric fossil fuel usage.
The REIT has already reduced greenhouse gas emissions at the Empire State Building by 54% and in its portfolio by 43%. ESRT recently published the “Empire Building Playbook: An Owner’s Guide to Low Carbon Retrofits” – co-developed with NYSERDA and supported by other NYC-based landlords and the Clinton Global Initiative.
“As legislation, market demand and climate change risk push real estate owners to meet emissions reduction requirements, companies need to seek out more advanced ways to offset their current usage while they work to reduce emissions,” said Anthony E. Malkin, chairman, president and CEO at ESRT.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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