Vision 2030 is Vornado’s commitment to reach carbon neutrality by 2030. We rely on meaningful stakeholder collaboration with our employees and our tenants to optimize operations and eliminate excessive usage. We prioritize energy efficiency through building upgrades and retrofits to more efficient equipment and systems, making operational changes to permanently reduce peak demands and providing high-performance guidelines for future tenant buildouts. Our commitment includes a target to reduce 50% of landlord-controlled energy by 2030, below a 2009 base year. Our carbon neutrality roadmap also includes opportunities to recover waste energy by reintroducing it to make hot water, the implementation of onsite renewables where feasible, the reduction of fossil fuel-based heating and cooling equipment, electrification when and where it makes sense, and sourcing our electricity from renewable sources while our local grid systems make their respective transitions to clean energy. A full description of our Vision 2030 commitment and energy reduction strategy can be found in our annual Sustainability Report.

We recognize the right to water as a fundamental human right and recognize the importance of conserving water and commits to reducing water consumption wherever possible. We increased our absolute water reduction goal to maintain a 30% reduction by 2030 below a 2019 base year, as our previous goal of 10% had been achieved well ahead of schedule. As part of our maintenance and operations best practices, we implement water recycling, reuse, and conservation measures, and systematically install low-flow fixtures. We explore opportunities for stormwater management and re-use and employ them where practical. We encourage tenant partnership by submetering tenants whose water use is projected to be above industry standard use for office or retail usage. A full description of our water management program can be found in our annual Sustainability Report.

As part of our commitment to sustainability and in accordance with New York City & New York State regulations governing the proper disposal of waste, Vornado maintains a comprehensive recycling and zero-waste program across our commercial portfolio. We communicate a consistent policy of separating recyclable materials, including paper, cardboard, glass, metal, cartons, rigid plastic, and organic waste, from trash, and utilize permitted haulers for the recycling of electronic waste and universal waste. Through strategic partnerships, we facilitate donations for tenants, further reducing waste. We have set a goal of diverting 75% of waste from landfills and incineration by 2030 and have implemented waste management best practices, introducing organic waste collection programs throughout our entire in-service office portfolio. Our goal is to achieve 50% tenant participation in the organics diversion program by 2030. Vornado contracts with zero-waste consultants across our portfolio to support our efforts, as well as those of our tenants, in achieving our diversion goals and implementing zero-waste initiatives. We track waste diversion metrics monthly and provide our tenants with access to a waste data tracking software to support their efforts.

Vornado purchases the majority of its maintenance supplies and equipment through its subsidiary, Building Maintenance Services LLC. Our selection of supplies with reduced environmental impact is critical to providing and maintaining a healthy indoor environment for our tenants, visitors and employees. We have committed to maintaining over 75% of supplies with certifications designated by UL EcoLogo, Green Seal, USDA Certified Biobased, EPA Comprehensive Procurement Guideline program and EPA Safer Choice Standard.