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
