NEW YORK CITY—Mayor Bill de Blasio—in partnership with the Real Estate Board of New York—has announced the launch of the NYC Carbon Challenge for Commercial Owners and Tenants. A total of 10 commercial owners as well as 12 commercial tenants and owner-occupiers have agreed to participate.

The ten participating commercial owners are the Durst Organization, Forest City, Normandy Real Estate Partners, The Related Cos., Rockefeller Group, Rudin Management Co., RXR Realty, SL Green Realty Corp., Silverstein Properties and Vornado Realty Trust. These owners have committed 56 buildings within their portfolios to the program.

The twelve participating commercial tenants and owner-occupiers include Allen & Overy, Barclays, Barnes & Noble, Citi, Environmental Defense Fund, National Resources Defense Council, Pfizer, Stroock, Sumitomo Corp. of Americas, UBS, Viacom and White & Case. These participants total almost eight million square feet and employ more than 25,000 people.

The program represents another expansion of the partnership between the city and private and institutional sector leaders, who have committed to reduce greenhouse gas emissions from their buildings by 30% or more in 10 years.

The expansion of the NYC Carbon Challenge to these 22 commercial owners and tenants reportedly adds more than 58 million square feet to the effort and is projected to reduce citywide GHG emissions by an additional 60,000 metric tons of carbon dioxide equivalent (tCO2e)—the equivalent of taking almost 13,000 cars off the roads—and result in an estimated $50 million in energy cost savings.

To achieve these reductions, existing participants as well as new commercial owner and tenant participants have committed to work together to identify strategies for coordinated implementation of energy efficiency projects in their buildings.

The launch of the NYC Carbon Challenge for Commercial Owners and Tenants marks a commitment by the city's commercial real estate community to help NYC achieve its goal of reducing citywide GHG emissions 80% by 2050.

“The commitments from these 22 commercial owners and tenants show environmental sustainability and economic sustainability work hand in hand,” says Mayor Bill de Blasio. “These private sector leaders demonstrate that New York City is committed to continuing to move aggressively to protect our residents and our planet.”

Adds John H. Banks III, president, REBNY, “We applaud our members and the other participants who have committed to the NYC Carbon Challenge. By implementing energy efficiency improvements, these owners and tenants are setting an example for others towards achieving a more sustainable future.”

“We look forward to working with these other large commercial owners and our tenants to continue to drive deep reductions in greenhouse gas emissions in our buildings, ensuring that our city is at the forefront of innovative and progressive thinking to fight climate change,” says Bill Rudin, CEO of Rudin Management Co. and chairman of the Association for a Better New York. “We are happy to continue to step toward a more sustainable future and demonstrate that the need for action is not a burden but an opportunity to do things better, cleaner, and cheaper and make our communities and buildings more livable and productive.”

Adds David R. Greenbaum, president of Vornado New York, “The Challenge presents an opportunity for us to demonstrate our leadership in responsible energy management. We have signed up substantially our entire New York City commercial office portfolio.”

Continues Marc Holliday, CEO, SL Green,“Through the NYC Carbon Challenge, we will work with our tenants to identify the most effective energy efficiency opportunities that will position our portfolio for continued success.”

“New York City has become a global leader in sustainable and resilient city planning and development,” notes Charlotte Mathews, VP of sustainability for Related. “Reducing buildings' fossil fuel use will reduce operating costs and delivers environmental benefits to our local communities.”

“Mayor de Blasio's NYC Carbon Challenge is an example of how cities and mayors are working with the private sector to tackle important issues like climate change,” asserts Michael Corbat, CEO of Citi. “We are proud to do our part in the city we call home as we continue to deepen our commitment to sustainable progress globally.”

Instant Insights /

City, REBNY Members Partner on Carbon Challenge

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