In our series of “Sustainability Spotlights,” Cortex Sustainability Intelligence highlights companies that are making significant strides towards creating a more sustainable CRE industry and, therefore, a better future for all.
Widely recognized for their redevelopment of the World Trade Center, Silverstein Properties has developed, owned, and managed over 40 million square feet of various large-scale properties. Their properties span throughout the United States, with expansion currently in progress to grow into 9 million more square feet.
Through their wide-spread relevance and flagship properties, Silverstein Properties is leading the industry forward in sustainability by being the first in various categories — installing energy efficient technologies, setting new building standards, and partnering with the city to achieve carbon neutrality. Keep reading to learn more about Silverstein Properties’ environmental and ESG plans.
A History of Sustainability
Silverstein has proven their trailblazing commitment to sustainability for decades. They installed the first ever co-generation system in a New York City office building in 1980. This building, 11 West 42nd Street, established a new set of norms during a period when climate change wasn’t commonly acknowledged or combatted. Silverstein also paved the way for another new industry standard after the 9/11 attacks by earning the first Gold standard LEED-certified office building in NYC — making 7 World Trade Center the inspiration for energy-saving and environmental responsibility in the new towers at the World Trade Center.
Today, all Silverstein buildings in NYC are LEED-Gold certified, including the three World Trade Center buildings. Additionally, Silverstein has received Energy Star Certification in all of their office buildings and River Place residential buildings, with plans to continue reaching those achievements annually.
With their reputation established through their past environmental efforts, it is no surprise that Silverstein was selected as one of ten real estate groups that partnered with New York’s 2021 Empire Building Challenge. Through this challenge, Silverstein committed to achieving carbon neutrality in 2,825,000 square feet of their commercial office buildings by 2030. In order to achieve this goal and pave the future of high-rise, low-carbon buildings, they plan to invest in retrofit projects, electrification, energy efficiency, and energy storage.
Looking Towards the Future
Nearly two-thirds of greenhouse gas emissions derive from buildings in NYC, and Silverstein is committed to reducing their buildings’ carbon emissions through continuously adopting efforts that further their standard-setting efforts. By continuing to develop and maintain large, sustainable properties, Silverstein is changing the real estate industry and doing their part to combat the climate crisis through continuously adopting efforts that further the standard across the country.
If you’d like to learn more about Silverstein Properties’ Environmental goals, you can review their ESG Policy Statement here.