Vornado Releases 2024 Sustainability Report

Rhea-AI Summary

Vornado Realty Trust (NYSE: VNO) has released its 16th consecutive sustainability report for 2024, marking significant environmental achievements. The company became the first major real estate entity to achieve 100% LEED® certification across its in-service building portfolio.

Key accomplishments include winning the inaugural Nareit Impact at Scale Award for THE PENN DISTRICT transformation, receiving Energy Star Partner of the Year with Sustained Excellence for the 9th year, and ranking in the top 3% among Office REITs in GRESB.

Notable metrics include:

• 41% reduction in energy consumption compared to 2009 baseline
• 4.7 million kWh reduction in electric consumption through operational optimization
• 59% waste diversion rate across in-service office portfolio
• 100% renewable energy credits procurement in key markets
• Educational assistance provided to over 14.5 million SF of tenants

NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) announced today that it released its 2024 Sustainability Report.

This Sustainability Report is Vornado's 16^th consecutive sustainability report which highlights the Company's industry-leading accomplishments in sustainability and provides key metrics on the Company’s sustainability priorities.

Key achievements for 2024 included:

• Became the first major real estate owner, operator and developer to achieve 100% LEED® certification across our entire portfolio of in-service buildings.

• Recognized for various achievements in sustainability for our continued industry leadership including (i) the inaugural Nareit Impact at Scale Award for setting a new standard for the modern, sustainable workplace through our transformation of THE PENN DISTRICT, (ii) Energy Star Partner of the Year with Sustained Excellence for the 9^th year and (iii) ranked in the top 3% of our peers for Office REITs and maintained our Green Star distinction for the 12^th year as well as the 5-star rating in Global Real Estate Sustainability Benchmark (GRESB).

• Continued to procure 100% renewable energy credits (RECs) for electricity directly managed by Vornado in the key markets in which we operate. These RECs are sourced from hydroelectric, solar and wind facilities located in the States of New York, California and across the USA.

• Achieved a 41% reduction in overall energy consumption across our in-service office portfolio, compared to our 2009 baseline. This year alone, we reduced our electric consumption by more than 4.7 million kWh through data driven operational optimization.

• Reached a 59% waste diversion rate across our in-service office portfolio, making significant progress towards our long-term target of 75%.

• Provided educational and technical assistance to more than 14.5 million SF of our tenants, to align our goals with our tenants, and to help them build and operate healthier and more efficient workplaces to increase employee satisfaction and reduce occupancy costs.

Our report, along with expanded information on Vornado’s sustainability programs, can be found on the Company's website located at www.vno.com.

Vornado Realty Trust is a fully-integrated equity real estate investment trust.

C O N T A C T

Thomas J. Sanelli
(212) 894-7000

Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see “Risk Factors” in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2024. Currently, some of the factors are interest rate fluctuations and effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ba681b62-885a-4d8c-a7ec-4b7f12aa43b0

FAQ

What sustainability milestones did Vornado (VNO) achieve in 2024?

Vornado achieved 100% LEED® certification across its portfolio, won the Nareit Impact at Scale Award, received Energy Star Partner recognition for the 9th year, and ranked in top 3% of Office REITs in GRESB.

How much energy reduction has Vornado (VNO) achieved since 2009?

Vornado achieved a 41% reduction in overall energy consumption across its in-service office portfolio compared to its 2009 baseline, including 4.7 million kWh reduction in 2024.

What is Vornado's (VNO) current waste diversion rate and target?

Vornado reached a 59% waste diversion rate across its in-service office portfolio in 2024, working towards a long-term target of 75%.

How does Vornado (VNO) source its renewable energy credits?

Vornado procures 100% renewable energy credits from hydroelectric, solar, and wind facilities located in New York, California, and across the USA.

What tenant support initiatives did Vornado (VNO) implement in 2024?

Vornado provided educational and technical assistance to over 14.5 million SF of tenants to help build healthier, more efficient workplaces and reduce occupancy costs.