A Leading Portfolio of Sustainability Programs
Vornado operates its buildings sustainably and efficiently by establishing best practices in energy and water conservation, carbon reduction, resource and waste management, and ecologically sensitive procurement.
We implement solutions that go beyond risk-proofing. Our goal is to create value for our tenants and investors through systems and infrastructures that allow continuous measurement, monitoring and improvement of our portfolio’s performance.
2022 Environmental, Social, & Governance ("ESG") Report
ENERGY INFORMATION PORTAL (EIP)
As a long term owner, Vornado operates our building to the highest possible standard. The Energy Information Portal is a web based tool that provides tenants with real-time monitoring of their energy consumption.
Investing in Sustainability Initiatives
Energy Efficiency Capital Expenditure Fund
Vornado's dedicated Energy Efficiency Capital Expenditure (CAPEX) Fund allows the company to strategically invest in building retrofits in order to improve operating efficiency at properties across our portfolio. Since 2012, the fund has invested $15 million in sustainability projects, with an average payback of three years.
THE PENN DISTRICT Cogeneration Plant
In 2010, Vornado installed a 6.2-megawatt cogeneration project at PENN 1 in New York City. This plant provides up to 60 percent of the building's electricity and up to 30 percent of the building's steam requirement, making it one of the largest cogeneration projects ever to be integrated into an existing New York City office building.
Energy Information Portal For Tenants
In 2009, Vornado launched the proprietary Energy Information Portal (EIP)—a tool to provide tenants with real-time monitoring of their energy consumption—in our New York portfolio. Collecting pulse output readings from 3,000 submeters, the EIP displays consumption to tenants and building operators in graph and table format, enabling them to see the success of their energy-reduction activity—and the associated cost savings—on a real-time basis.
Automated Demand Response
Vornado is a leader in automated electric demand response and curtailment. As we upgrade energy infrastructure and controls, we also build the infrastructure needed to support the electrical grid during critical periods via automatic electrical load shedding.
The TSC also delivers outstanding building services, including a state-of-the-art Web-based Service Request initiation and tracking system that allows property managers, building engineers, tenants and vendors to communicate in real time. The Vornado Tenant Services System eliminates paper-based work orders and allows tenants to initiate and track their requests for service and maintenance.
Waste Reduction and Resource Management
Recycling is a team effort between Vornado, our contractors and our tenants. We are implementing a strategic waste management plan that includes tenant and employee education, incentive programs, strengthened contracts with preferred waste management providers, and enhanced infrastructure. Collectively, these elements have enabled us to establish market leadership in waste reduction.
Our goal is to achieve a landfill diversion rate of at least 75 percent for all new development/construction projects, and at least 50 percent for all tenant improvements.
Vornado's waste management consultants carefully monitor waste and recycling data from our vendors. Because we demand transparency, we are able to address performance issues and establish confidence that our recycling is managed effectively.
Vornado’s Recycling Process in Office Buildings
Establish a program.
Educate tenants to keep wet and dry waste separate. Train cleaning staff to gather waste in appropriate containers.
Work with hauling companies that understand our goals.
Weighing & Sorting
Require hauling companies to provide waste stream data on a regular basis.
Review building-level waste data and make improvements on an annual basis.
Vornado continues to demonstrate environmental stewardship by monitoring and improving our portfolio’s water efficiency. We monitor water usage to identify anomalies and leaks before they result in high consumption and expenses. We are retrofitting the plumbing fixtures across our portfolio and have a leak detection program in place to quickly identify opportunities to conserve water. Our portfolio specification is for water and plumbing fixtures that meet or exceed LEED standards.
Vornado, in partnership with our tenants, has created green leases that align landlord and tenant financial incentives to help reduce energy use by including provisions such as energy submetering or energy efficiency cost sharing.
Our extensive outreach program includes hosting regular tenant education seminars, performing occupant surveys, and promoting programs for recycling reeducation. By sharing our enthusiasm and commitment, we are able to extend our influence to encourage positive behavior in our communities.
Green Cleaning and Indoor Environmental Quality
We strive to be at the forefront of creating the best possible indoor environment for our tenants. Our green cleaning program creates healthy workplaces to ensure that we can attract and retain the best tenants. Vornado’s green cleaning standards combine best practices for resource management with use of low environmental impact products, with a particular focus on occupant health and indoor air quality.
Vornado’s subsidiary, Building Maintenance Service (BMS), cleans and maintains our buildings to LEED green cleaning standards, using products and equipment that meet other recognized standards such as Green Seal and EcoLogo. We also are proud that BMS recently became a Green Seal-certified company.