Vornado Realty Trust's Bold Steps Towards Sustainability in 2024
Vornado Realty Trust's Sustainability Commitment in 2024
In a recent announcement, Vornado Realty Trust (NYSE: VNO) revealed its 2024 Sustainability Report, marking its dedication to responsible building practices and environmental stewardship. This report, now in its 16th installment, showcases the company's remarkable accomplishments in sustainability while providing essential metrics that underline its long-term environmental strategies.
Key Achievements in Sustainability
The 2024 report emphasizes significant milestones Vornado has achieved, positioning it as a leader in real estate sustainability.
LEED Certification Milestone
In a groundbreaking move, Vornado became the first major real estate owner, operator, and developer to achieve a remarkable 100% LEED certification across all its in-service buildings. This accomplishment reaffirms their commitment to creating sustainable and efficient spaces for their tenants.
Awards and Recognition
The company has also been recognized for its outstanding leadership in sustainability. Notable accolades include the inaugural Nareit Impact at Scale Award, which celebrates pioneering efforts to enhance the modern, sustainable workplace. Furthermore, Vornado has earned the esteemed title of Energy Star Partner of the Year with Sustained Excellence for nine years running, placing it among the top 3% of its peers within the Office Real Estate Investment Trust (REIT) sector. Maintaining its Green Star distinction for twelve consecutive years and a five-star rating in the Global Real Estate Sustainability Benchmark (GRESB) solidifies Vornado's reputation.
Renewable Energy Initiatives
Vornado's proactive approach includes the procurement of 100% renewable energy credits (RECs) for electricity at properties under direct management. These RECs are sourced from an array of sustainable energy facilities encompassing hydroelectric, solar, and wind power located in markets across the United States.
Energy Consumption Reduction
In its quest for sustainability, Vornado has achieved a staggering 41% reduction in overall energy consumption across its in-service office properties compared to the 2009 baseline. The company proudly reports a decrease of over 4.7 million kWh in electric consumption this year, a result of data-driven operational optimization.
Waste Management Achievements
Vornado is making substantial strides in waste management as well. The firm has reached a 59% waste diversion rate in its office portfolio, making significant headway toward a long-term goal of 75% waste diversion.
Tenant Engagement and Support
Additionally, Vornado is committed to fostering better work environments by providing educational and technical assistance to over 14.5 million square feet of tenant space. This outreach aims to align sustainability goals, improve tenant operations, and enhance employee satisfaction while potentially lowering occupancy costs.
Conclusion and Availability of the Report
The latest report, coupled with further details on Vornado’s extensive sustainability initiatives, is available on the company’s official site. This commitment not only reflects Vornado's priorities but also sets a benchmark for other leaders in the real estate industry.
Contact Information
For any inquiries, interested parties can reach out to:
Thomas J. Sanelli
(212) 894-7000
Frequently Asked Questions
What is Vornado Realty Trust's main achievement in sustainability for 2024?
Vornado achieved 100% LEED certification across its entire portfolio of in-service buildings, marking a significant milestone in real estate sustainability.
What notable award did Vornado receive in 2024?
Vornado was honored with the inaugural Nareit Impact at Scale Award, highlighting its leadership in creating sustainable workplaces.
How much has Vornado reduced its energy consumption?
The company reported a 41% reduction in overall energy consumption compared to the 2009 baseline, amounting to over 4.7 million kWh reduced this year.
What waste diversion target is Vornado aiming for?
Vornado aims for a long-term waste diversion rate of 75%, achieving a 59% diversion rate across its office portfolio as of 2024.
How does Vornado support its tenants in sustainability efforts?
Vornado provides educational and technical assistance to over 14.5 million square feet of tenant space to help align sustainability goals and improve efficiency.
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