The New York City Council approved Local Law 97 in 2019; often referred to as the Climate Mobilization Act. The objective: mandating considerable energy efficiency upgrades for large buildings and real estate owners, seeking to lower the city's greenhouse gas emissions.
In accordance with Local Law 97, structures larger than 25,000 square feet will need to cut their annual greenhouse gas emissions by a predetermined proportion in order to achieve net-zero emissions by 2050. Owners of buildings who break the law risk paying hefty fines, $268 dollars per metric ton to be precise.
The act is crucial since New York City contains some of the biggest and most energy-intensive buildings in the world and building energy consumption represent 40% of global carbon emissions. By focusing on these structures, Local Law 97 hopes to significantly reduce the city's overall emissions and aid New York City in reaching its target of 80% greenhouse gas emission reduction by 2050.
Implementing laws like Local Law 97 will not only assist reduce carbon emissions but also help building owners and its tenants save money on energy costs, improve indoor air quality, and make buildings more comfortable.
It's time for cities all throughout the country to follow New York's example and make bold decisions to cut back on building emissions and address climate change head-on. We can significantly impact the fight against climate change by increasing building efficiency, and it is imperative that we do it as quickly as possible.
For more information regarding Local Law 97, visit the government's website: https://www.nyc.gov/site/sustainablebuildings/ll97/local-law-97.page