Climate Change Data

RXR Realty

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:108,611 MtCO2e (2022)
Scope 1 Emissions:6,053 MtCO2e (2022)
Scope 2 Emissions:102,558 MtCO2e (2022)
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:339,508,559 ekWh (2022)
Water Consumption:12.25 gal/gsf/yr (2022)
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Energy and Sustainability
  • Social Impact
  • Governance

Environmental Achievements

  • 18 properties became Energy Star Certified
  • Entire office portfolio was Well Health & Safety Certified
  • Pier 57 project awarded New York Historic Preservation Award for adaptive reuse
  • 42% annual energy savings at 450 Lexington Avenue through HVAC retrofits
  • 36.2% waste diversion rate across RXR properties, eliminating 6,095 metric tons of greenhouse gas emissions

Social Achievements

  • Development projects supported nearly 9,000 construction jobs and over 1,000 permanent jobs
  • Nearly $200 million of investment went to minority and women-owned firms (20% of trade costs, 26% of contracts)
  • Launched Resident Experience Offering (RXO) program engaging over 70,000 customers
  • Donated over $5 million to over 90 nonprofits
  • Opened One Clinton Park (352 units) and commenced construction on Two Clinton Park (390 units) in New Rochelle
  • Launched RXR Women’s Initiative
  • Repurposed office furniture for first responders

Governance Achievements

  • Established an enterprise-wide Business Risk Steering Committee (BRSC)
  • Implemented automated ransomware detection and response, and BitLocker Desktop Hard Drive Encryption for cybersecurity
  • Regular cybersecurity training for all employees

Climate Goals & Targets

Long-term Goals:
  • Achieve net-zero emissions by 2050
Medium-term Goals:
  • Achieve carbon neutrality by 2035
Short-term Goals:
  • Formalize carbon neutrality plans for each property by end of 2023

Environmental Challenges

  • Slight increase in energy consumption and total emissions compared to 2020 and 2021 due to increased occupancy and regional energy grid reliance on nonrenewable resources
  • Evolving business risks
Mitigation Strategies
  • Comprehensive web-based energy management system implemented across properties
  • Formalizing carbon neutrality plans for each property by end of 2023, incorporating low-carbon design solutions
  • Reviewing operational improvements, energy conservation measures, fuel-switching strategies, and use of Renewable Energy Certificates (RECs)
  • Evolving risk management framework based on evolving business risks and establishing a BRSC

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Minority and women-owned business participation in development projects

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather
Transition Risks
  • Regulatory changes, market shifts
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standard

Certifications: Energy Star, WELL Health & Safety

Third-party Assurance: External assurance performed on energy, water, and waste data

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • WorxWell smart building analytics platform
  • View's electrochromic windows

Awards & Recognition

  • New York Historic Preservation Award (Pier 57)
  • Energy Star certifications (multiple properties)
  • WELL Health & Safety certifications (entire office portfolio)