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NYC Emissions Law Discourages Dense Office Buildings, Lacks Clarity: Report

A new report from the Citizens Budget Commission (CBC) found several issues with the city’s new emissions reduction law for buildings, including a lack of clear guidance from the New York City Department of Buildings ahead of the law’s first deadline in 2024, no realistic framework for landlords to purchase renewable energy credits, and rules that discourage densely populated office and retail buildings. 

Local Law 97, signed into law by Mayor Bill de Blasio in 2019, aims to reduce carbon emissions for large buildings by 40 percent by 2030 and by 80 percent by 2050. The emissions caps apply to most properties larger than 25,000 square feet beginning in 2024, with deeper emissions cuts expected in 2030, and then every five years through 2050.

Commercial Observer

Photo by Vlada Karpovich from Pexels

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