New York’s Recent Climate Laws
Overview of New York’s Recent Climate Laws
Last year, the state of New York passed legislation to combat the increasing effects of climate change. The Climate Leadership and Community Protection Act aims to reduce the amount of greenhouse gas emissions by 40% by 2030 and by 85% by 2050. The plan was created to achieve a net zero greenhouse gas emission economy and transition the state into using renewable energy for 70% of its electricity by 2030 and 100% zero emission electricity by 2040. It also created a Climate Action Council of 22 experts and leaders of state agencies to create a plan that recommends how to reduce greenhouse gas emissions. In accordance with the Green New Deal, New York City passed its own legislation to reduce carbon and greenhouse gas emissions. Local Law 97, also known as LL97 and the Climate Mobilization Act, targets the largest contributor of emitted greenhouse gases in NYC, which is generating electricity and burning fossil fuels for buildings. It applies to buildings with over 25,000 square feet, which accounts for 60% of the square footage in NYC, and requires caps on the greenhouse gases they emit.
Benefits of Climate Laws for Building Owners
In such uncertain times, the lack of people using many office buildings within the city allows for a period of learning for how buildings use energy and how to make them more energy efficient. Besides lower energy costs and the creation of green jobs, these caps will have many benefits, including improvement of public health through the environment and the preservation of ecosystems and resources. It is also beneficial to landlords that the laws require large changes over multiple decades as it is more cost effective than constantly making small changes throughout the lifespan of the building. Green retrofits increase the lifespan of buildings, while also making them more valuable and increasing the asset value of a property. The required upgrades save on buildings’ operating and day-to-day costs as it is more expensive and difficult to maintain traditional energy generators. Therefore, while some upgrades may be costly now, many programs exist to help finance these newly required upgrades and they will eventually save building owners money in the future.
How Buildings Can Meet the Requirements
The caps placed on buildings will be calculated based on the intensity of emissions and the size of the building. Emission intensities for each building must be submitted in a report notarized by a design professional every year. Buildings that exceed these limits will be fined and must install energy efficiency upgrades or clean energy measurements. Upgrades can be financed through the NYC Property Assessed Clean Energy program and other utility and state programs that offer assistance for green retrofits, in addition to the low-cost loan program included in the Climate Mobilization Act. There are also workshops offered by sustainability organizations, such as the Urban Green Council, on how to design and maintain the new, low-emission buildings. Building emissions can also be lowered through deductions such as carbon offsets and installing renewable energy technology. Adjustments to the new regulations will be enacted to prevent rent increase in buildings for low-income and rent-regulated housing, as well as elderly housing and places of public worship. The sooner building owners begin making the transition to counteract the effects of climate change, the easier the transition will be for them.
Written by: Alessia Carreon - Intern of Moni K, LLC