Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 13

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 13
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 comply with ambitious emissions limits. New York City enacted Local Law 97 (LL97) in 2019 under the Climate Mobilization Act, setting carbon caps for large buildings starting in 2024 as part of a broader commitment to reducing greenhouse gas emissions by 40% by 2030, and by 80% by 2050. We expect to be compliant in the first compliance period through 2029, with no material financial impact on our portfolio.

10

The Company has demonstrated a commitment to transparency on climate issues via annual public reporting informed by widely adopted frameworks, including Global Reporting Initiative ("GRI") since 2013, GRESB (formerly known as the Global Real Estate Sustainability Benchmark) since 2019, Sustainability Accounting Standards Board ("SASB") since 2021, and the CDP (formerly the Carbon Disclosure Project) since 2018. In 2023, the Company released its second Task Force on Climate related Financial Disclosures ("TCFD") report, which expanded the physical and transition risks and opportunities and progress related to TCFD disclosure originally released in 2021. This report, along with the Company's current ESG Report, is available under "Reports & Resources" in the "Sustainability" section on our website. The Company has approved near-term Scope 1 and Scope 2 science-based emissions reduction targets with the SBTi. Our goal is to reduce emissions for our operationally controlled portfolio to align it with the 1.5 degree Celsius climate scenario. 

Highlights from 2024

Our significant achievements from 2024 included:

Leasing

•Signed 188 Manhattan office leases covering 3,607,924 square feet.

•Increased same-store Manhattan office occupancy to 92.5%.

•Early renewal and expansion with Bloomberg, L.P. for 924,876 square feet at 919 Third Avenue.

•Early renewal and expansion with Ares Management LLC for 307,336 square feet at 245 Park Avenue.

•New lease with Alvarez & Marsal Holdings, LLC for 220,221 square feet at 100 Park Avenue.

•New lease with Elliot Management Corporation for 149,437 square feet at 280 Park Avenue.

•Early renewal and expansion with Industrial and Commercial Bank of China Limited, New York Branch for 132,938 square feet at 1185 Avenue of the Americas.

•Early renewal and expansion with The Travelers Indemnity Company for 122,788 square feet at 485 Lexington Avenue.

•New leases