Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it has achieved 2021 ENERGY STAR labels across 100% of its office portfolio, spanning 11.3 million square feet. The U.S. Environmental Protection Agency’s (EPA’s) ENERGY STAR certification signifies that Paramount’s assets perform within the top 25 percent for energy efficiency when compared to similar buildings nationwide.
Paramount also achieved the ENERGY STAR Tenant Space Recognition at 1325 Avenue of the Americas and is committed to partner with its tenants to encourage the adoption of the ENERGY STAR Tenant Space program within their own offices in 2022.
“Prioritizing energy efficiency is fundamental to our business strategy and ensures we are upholding our responsibility to our stakeholders and communities,” said Wilbur Paes, Paramount’s Chief Operating Officer, Chief Financial Officer and Treasurer. “We are extremely proud that our portfolio has been distinguished through ENERGY STAR in recognition of our market-leading operations and sustainability performance.”
“Properties that receive ENERGY STAR Certifications must meet superior energy performance standards set by the U.S. EPA” said Craig Haglund, EPA’s ENERGY STAR Program Manager for Commercial Real Estate and Multifamily. “Achieving certification throughout its portfolio demonstrates Paramount Group’s strong commitment to energy efficiency and will go a long way in its efforts to reduce its impact on the environment.”
About Paramount Group, Inc.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.
About ENERGY STAR
ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $450 billion in energy costs and achieve 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR can be found at: https://www.energystar.gov/about and https://www.energystar.gov/about/origins_mission/energy_star_numbers.