The invention provides a retractable emergency escape system for a high rise building. The emergency escape system is made of a flexible, durable, fireproof, canvas-like material that allows it to retract to the top of the building when not in use. In its deployed configuration, the emergency escape system comprises a series of interconnected support panels connected to one or more vertical ladders or chutes. The diagonal pattern of the support panels provides support to the ladders and chutes, and also provides building occupants with an additional escape route. An occupant stuck in the building could escape the building by way of the diagonal support panels, by way of the vertical ladders or chutes, or by way of a combination of both. Alternatively, the invention can be made with horizontal support panels connecting to the vertical ladders or chutes.