Vornado Realty Trust has not held back in describing its ambitious approach to ESG. A USGBC 2020 Leadership Award recipient, a 2019 Energy Star Partner of the Year Award for Sustained Excellence recipient, and the NARIET Leader in the Light recipient for the 10th year in a row, Vornado Realty Trust has about 30 million square feet of LEED certified space. And Vornado has not only committed to certifying their entire office portfolio but is also focusing on the next frontier of sustainable real estate — programs that concentrate on technology, resilience, and health.
And with a GRESB Green Star Ranking in 2019 for the seventh year in a row, Vornado has adopted a Vision 2030 plan to make all its buildings carbon neutral in the next decade. But what stands out is the steadfast Vornado value that is seen on display from the company time and again: progress in terms of people.
Vornado has laid out the five sectors of individuals in its success: its board, its tenants, its investors, its employees, and its community.
When you have an active relationship with property managers and regular phone calls with investors to address the progress of ESG, sustainable practices become a mainstay focus on the board, employee engagement with building management assesses carbon reduction goals, and you consistently participate in community and government partnerships focused on civic and environmental issues – it’s safe to say you are building a company where equal perspectives play a role.
In short, Vornado is putting people first. One of Vornado’s most notable properties, its Farley office building, which is now pursuing LEED v4, is rooted in a relevant, timely, and human-centric value. In fact, the company finds its most inherent value in the access it provides its tenants: Access to transit systems, access to rooftop collaborative work and event spaces, access to their real-time energy consumption, and more.
As a USGBC Gold member, Vornado has LEED certified all but six percent of its portfolio and has ensured an organization-wide, vertically integrated commitment to ESG. Their human resources team, sustainability team, and executive team all report to a corporate ESG team, who reports to a board with oversight of social and environmental factors including but not limited to climate change and climate-risks.
Not only is Vornado creating a culture where everyone holds themselves accountable for implementing best sustainable practices, but they are also making that work life – and quite frankly, that quality of life – accessible to everyone in their network.