The Climate Mobilization Act of 2019 includes a landmark law for building decarbonization. Enacted May 19, Local Law 97 will build on Big Apple’s extensive energy conservation history and address emissions that contribute to climate change. The new legislation will have significant local benefits and lay the groundwork for similar measures in other cities. However, it will be difficult to see whether these efforts will prove to be effective or even cost-effective.
The new Climate Mobilization Act of 2019 requires New York City’s largest buildings to cut carbon emissions by 40% by 2030, and 80% by 2050. Buildings that fail to meet the Act’s targets will face financial penalties and lose their right to operate in the city. The law also imposes stricter standards for new construction and demolition than the previous law. Nonetheless, the Climate MObilization Act is a welcome step in the right direction.
The law also includes a property assessed clean energy program, known as PACE, which enables property owners to apply for financing for new, green energy installations. This financing is tied to the property, and is transferable when the property changes ownership. Because the financing is based on the property, PACE reduces upfront costs while increasing long-term savings. In addition to helping the economy, PACE helps to fight climate change.
The climate change crisis has become a pressing issue in the United States, and public policymakers are looking for ways to promote energy efficiency and reduce carbon emissions. The Intergovernmental Panel on Climate Change, a UN-sponsored panel, recently published a report claiming that greenhouse gas emissions are increasing in every region of the world. The climate change policy in NYC is just one example of how cities can lead the fight against climate change and build decarbonization.
This new law will reduce emissions by reducing pollution and creating a more healthy city. By 2030, the city expects its biggest buildings to cut carbon emissions by 40 percent. The legislation will also require building owners to offset some of their less efficient buildings with better-performing buildings. The climate mobilization legislation is a significant step toward a carbon-neutral New York City.
The Climate Mobilization Act has included ambitious emissions reduction requirements for New York City buildings. Buildings are responsible for about two-thirds of the city’s carbon emissions each year. The new law mandates that large buildings reduce their carbon emissions per square foot by 2024. The laws will also require that buildings reduce their energy consumption. There are a number of other ways to achieve these goals, including improving local government performance.
