Vornado Continues its Leadership in ESG Earning Top GRESB Ratings and Receiving NAREIT’s Leader in the Light Award
NEW YORK, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today it has received the following awards reflecting its continued industry-leading commitment to environmental, social, and governance (ESG) practices:
- Global “Sector Leader” for Diversified Office/Retail REITs in the Global Real Estate Sustainability Benchmark (GRESB), ranking #1 in the USA amongst peers. Overall, Vornado placed third among 112 responding Listed companies within the Americas.
- GRESB’s “Green Star” distinction for the tenth time and GRESB’s Five Star Rating.
- In GRESB, scored an “A” for its ESG public reporting.
- National Association of Real Estate Investment Trust’s (NAREIT) respected Leader in the Light Award for sustainability for diversified REITs for the 12th time. NAREIT’s annual Leader in the Light Awards honor NAREIT member companies that have demonstrated superior and sustained ESG practices.
Vornado continues to lead the industry in sustainability, owning and operating more than 28 million square feet of LEED certified buildings, with over 23 million square feet at LEED Gold or Platinum. Vornado’s commitment to carbon neutrality and associated emissions reductions targets have been approved by the Science Based Targets Initiative as consistent with a 1.5°C climate scenario, the most ambitious goal of the Paris Agreement. More information on the Company’s industry-leading sustainability programs can be found in Vornado’s 2021 Environmental, Social and Governance Report, which can be viewed at esg.vno.com.
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
CONTACT
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 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. We also note the following forward-looking statements: in the case of our development and redevelopment projects, the estimated completion date, estimated project cost, projected incremental cash yield, stabilization date and cost to complete; and estimates of future capital expenditures, dividends to common and preferred shareholders and operating partnership distributions. 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, 2021. Currently, some of the factors are the ongoing adverse effect of the COVID-19 pandemic, the increase in interest rates and 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. The extent of the impact of the COVID-19 pandemic will continue to depend on future developments, including vaccination rates among the population, the efficacy and durability of vaccines against emerging variants, and governmental and tenant responses thereto, which continue to be uncertain but the impact could be material. Moreover, you are cautioned that the COVID-19 pandemic will heighten many of the risks identified in "Item 1A. Risk Factors" in Part I of our Annual Report on Form 10-K for the year ended December 31, 2021.
