Mayor Bill de Blasio announced New York City's Green New Deal at Hunter's Point South Park on Monday. Credit:. Michael Appleton/Mayoral Photography

NEW YORK CITY—In his “Green New Deal” plan announced this week, New York City Mayor Bill de Blasio is calling for $14 billion in new and committed investments, as well as legislation to attack the effects of global warming.

In his new green plan, the mayor proposes stringent energy initiatives and calls for continued cuts in greenhouse emissions. The Green New Deal plan is intended to ensure a nearly 30% additional reduction in emissions by 2030. In combination with actions taken prior to de Blasio taking office, New York City is on track to achieve a 40% reduction in emissions from a 2005 baseline by 2030, city officials note.

“Every day we wait is a day our planet gets closer to the point of no-return. New York City's Green New Deal meets that reality head on,” said Mayor Bill de Blasio. “We are confronting the same interests that created the climate crisis and deepened inequality. There's no time to waste. We're taking action now, before it's too late.”

Four items in the Green New Deal city official say will reduce emissions by 23%.

• Mandating that all large, existing buildings implement retrofits to be more efficient and lower emissions.

• Implementing OneNYC initiatives to further reduce emissions including more renewable energy, expanded energy efficiency in buildings and reduced reliance on fossil fuel vehicles.

• Pursuing a deal to power 100% of city operations with clean electricity sources like Canadian hydropower.

• Cleaning up the city's vehicle fleet and implementing congestion pricing.

New York City is the first city in the world to require all large existing buildings of 25,000 square feet or more, of which there are 50,000 citywide, to make efficiency upgrades that lower their energy usage and emissions or face steep penalties.

The new plan also bans new inefficient glass-walled buildings. The city will no longer allow all-glass facades in new construction unless they meet strict performance guidelines.

Other green initiatives that are part of the city's plan include: making organics collection mandatory citywide; ending unnecessary purchases of single-use plastic foodware; phasing out the purchase of processed meat; reducing the purchase of beef by 50% and committing to a carbon neutral city fleet by 2040.

The new “OneNYC 2050: Building a Strong and Fair City” plan released by the mayor commits the city to carbon neutrality by 2050, and 100% clean electricity.

City Council Speaker Corey Johnson noted that the City Council earlier this month passed the “Climate Mobilization Act,” which he said requires that medium and large buildings dramatically cut their greenhouse gas emissions.

“I am pleased to see that, following last week's passage of the Climate Mobilization Act, the Administration is expanding these measures to further reduce the effects of climate change in the city. I look forward to working with the mayor to implement these measures,” Johnson said.