New York City is making it easier for building operators to comply with Local Law 97 by subsidizing them with a fund.
The 2019 law requires emission limits on most buildings in the region that exceed 25,000 square feet. It impacts nearly 50,000 buildings. The goal of Local Law 97 is to cut emissions by 40 percent by 2030 and 80 percent by 2050.
Property owners can purchase offset certificates for 10 percent of the building's emission limits ahead of the compliance reporting deadline, which is set for May 2025.
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