Climate Change Data

Urban Land Institute (ULI), European Association for Investors in Non-Listed Real Estate Vehicles (INREV), Principles for Responsible Investment (PRI)

Climate Impact & Sustainability Data (2017, 2023)

Reporting Period: 2017

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Empire State Building retrofit achieved 38% annual energy reduction and 105,000 tons GHG reduction over 15 years.

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Lack of attention to real estate in mainstream ESG investing.
  • Data limitations and inconsistencies in reporting sustainability metrics for REITs.
Mitigation Strategies
  • Development of a sustainable REIT investment strategy using a combination of comprehensive and focused indicators.
  • Data aggregation from multiple sources to improve validity and comprehensiveness.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Responsible contracting (e.g., meaningful benefits and living wage for janitorial workers)

Climate-Related Risks & Opportunities

Physical Risks
  • Flood or Coastal Erosion Risk
Transition Risks
  • Not disclosed
Opportunities
  • Energy efficiency retrofits and building improvements

Reporting Standards

Frameworks Used: GRI

Certifications: LEED

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • LEED Gold Status

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Biodiversity
  • Water
  • Circular Economy
  • Health and Safety
  • Employees
  • Community Impact
  • Governance
  • Compliance
  • Strategy
  • Risk Management

Environmental Achievements

  • Not disclosed

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Complexity and scope of ESG reporting requirements
  • Lack of data availability and standardization
  • Difficulty in obtaining whole-building data (landlord and tenant controlled areas)
  • Lack of understanding of scope 3 emissions
  • Challenges in integrating CRREM tool due to data limitations and lack of guidance on assumptions
  • Challenges in implementing IoT devices globally
Mitigation Strategies
  • Collaboration and knowledge sharing across stakeholders
  • Development of proprietary tools and processes for data collection and aggregation
  • Implementation of smart metering and ESG software platforms
  • Inclusion of sustainability clauses in tenant contracts
  • Engagement with occupiers and local experts
  • Development of in-house sustainable building standards

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
  • Extreme Weather
Transition Risks
  • Regulatory Changes
  • Market Shifts
  • Carbon Pricing
Opportunities
  • Energy Efficiency Improvements
  • Renewable Energy Investments

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC, INREV, EPRA, SFDR, CDSB, CBI, IFRS S1/S2, CSRD, CDP, GRESB

Certifications: LEED, BREEAM, WELL, Fitwel, DGNB, HQE, NABERS, Green Star, Energy Star, CASBEE, BELS, ZEB

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed