A pioneering real estate firm in sustainability is sharing its secrets: Empire State Realty Trust Inc. has published “Empire Building Playbook: An Owner’s Guide to Low Carbon Retrofits.” Co-developed with NYSERDA and supported by other New York City-based landlords and the Clinton Global Initiative, the innovative guide outlines the step-by-step process for existing commercial buildings to develop a pathway to carbon reduction with proven returns on investment. Designed for all levels of technical understanding, the full Empire Building Playbook is available online.
“The free, online Playbook charts a path for landlords, tenants, and service providers to reduce greenhouse gases and related carbon associated with the operations of buildings, achieve the goals of New York State, and comply with Local Law 97,” said Anthony E. Malkin, chairman, president, and CEO of ESRT. “ESRT will use the playbook to compete for tenants and protect and create value for our shareholders. We maintain our industry leadership position with proven paybacks on actions taken towards a more sustainable future. The Playbook demonstrates the case of how to achieve 75% to 90% emissions reductions with a payback of four to eight years through a combination of building system upgrades with a renewably sourced grid.”
ESRT’s Dana Robbins Schneider, senior vice president, director of energy, sustainability and ESG led ESRT’s development of the playbook with major funding from NYSERDA as did the Durst Organization, Hudson Square Properties and Vornado Realty Trust. The work shows how to codify test, refine and verify the in-building projects. Beyond the Empire State Building, the Playbook contains case studies for retrofit analyses done by each of these partners, which includes One Bryant Park, 100 Avenue of the Americas, and One Penn Plaza. ESRT partnered with the Clinton Foundation and the Clinton Global Initiative to drive leadership in action toward climate resilience and a carbon neutral future.
“If you believe New York should have more jobs, if you believe that we should avoid the worst consequences of climate change, if you don’t want to see the rising waters flood the south end of Manhattan, do this,” said President Bill Clinton at the announcement. “Give people the dignity of work, create new businesses and clean the air. We know, now, we don’t have any excuse. Our grandchildren are depending on it.”
The Playbook will continue to be updated in real time with additional case studies, technologies and best practices as the state’s Empire Building Challenge partners complete their decarbonization plans and implement the work.
“NYSERDA was honored to work with Empire State Realty Trust and some of the state’s leading real estate owners to develop the Empire Building Playbook, a resource that demonstrates to building owners that New York makes it possible to decarbonize challenging high-rise buildings and if we can do it here in the Empire State, we can do it anywhere,” said NYSERDA President and CEO Doreen M. Harris.
The Playbook process — with a projected timeline of three to six months — sets forth a series of steps, from the assembly of a team and delegation of responsibilities to technical analysis, development of energy and financial models and economic analysis. The business case is confirmed in the last step, where energy and maintenance costs, implications of LL97 fines, refined capital and implementation costs and incentives are established.
“With our foundation in the groundbreaking, deep energy retrofit at the Empire State Building, our mission is to energy efficiency and decarbonization more affordable and therefore accessible to more businesses that make New York State great,” said Schneider. “This work is globally scalable. Our portfolio investments have already reduced energy consumption and emissions, created environments focused on health and wellness of our building occupants, and reduced operating expenses for both ESRT and our tenants at accessible rents. The Empire State Building leads the industry as we build upon the last decade’s 54% reduction in its greenhouse gas emissions and target carbon neutrality by 2030.”
