Local Law 97 of 2019 establishes strict limits for carbon emissions.
It mandates steep emissions reductions measures throughout the majority of NYC’s buildings and fines for buildings that don’t comply.
As Joshua Kace, director of energy practice, CodeGreen Solutions reports in the Building Energy Exchange, under this legislation, large buildings will be subject to major financial penalties if carbon intensity targets are not met starting in 2024 (reports due May 2025), with more aggressive targets starting in 2029. While most buildings will not be exposed to potential penalties until 2029, owners and operators need to move quickly to mitigate potential exposure to LL97’s penalties. Commercial buildings face additional challenges, not least of which being that energy consumption by tenants is often outside the direct control of building management.