Owners and landlords of buildings who thought they had until the end of the decade to start reducing carbon emissions better reset their alarm clocks. Carbon caps are coming soon to a city near you.
With buildings generating an estimated 40 percent of the carbon emissions in the US, several cities are preparing to enforce carbon caps on buildings as small as 20K SF, with the first mandates going into effect as soon as 2024.
New York City's Local Law 97 (LL97), enacted in 2019 as part of the city's Climate Mobilization Act, place carbon caps on most buildings larger than 25K SF.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
