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Despite Looming Fines For Building Emissions, NYC’s Green Financing Program Struggles To Take Off

New York City’s real estate industry will soon have to comply with legislation designed to help the city meet its ambitious climate goals. But there’s a problem: Developers and lenders don’t understand the city-run financing program in place to help landlords reduce their buildings’ carbon emissions.

The program called C-PACE, which stands for Commercial Property Assessed Clean Energy, is intended to provide long-term financing to help buildings make improvements to reduce their carbon output and save energy.


Photo by Thierry Caccavale

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