Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Commercial Leasing Law & StrategyFeaturesEnvironmental LawLandlord Tenant Law

The Impact of New York's Greenhouse Gas Law

By Matthew Schneid
March 01, 2023

Local Law Number 97 of 2019 (as amended by Local Law Number 147 of 2019, "Local Law 97") was enacted by the City of New York to amend the New York City Charter and Administrative Code to achieve reductions in greenhouse gas emissions by 2050 (See, §28-320 and §28-321 of the Administrative Code). The specific goal of Local 97 is to reduce city-wide carbon emissions by forty percent (40%) by 2030 and a total of eighty percent (80%) by 2050. This is accomplished by requiring buildings to retrofit their systems with more energy efficient systems or purchase certain permitted carbon offsets.

|

Requirements

Local Law 97 includes specific carbon limits depending on a building's size, property type and the compliance year. Starting in the 2024 calendar year, the law assigns emissions limits for sixty (60) different property types that reflect the wide variation in energy use among buildings. Carbon caps become more stringent over a series of compliance periods, so each building will be allowed to emit less carbon over time in the following periods: 2024-2029, 2030-2034, 2035-2039, 2040-2049, and 2050 and thereafter.

As of Jan. 19, 2023, the New York City Department of Buildings added new rule 103-14 to implement Local Law 97 by establishing the procedures for reporting on complying with annual greenhouse gas emissions limits for buildings. The rules establishes the building emission limits, or emission factors, for different property types and provides the formula for calculating a building's annual emissions limit. The law assigns a "carbon coefficient" to specify the carbon content for each fuel type. A building's annual emissions are determined by combining total energy use for each fuel type multiplied by its corresponding carbon coefficient.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
How Secure Is the AI System Your Law Firm Is Using? Image

In a profession where confidentiality is paramount, failing to address AI security concerns could have disastrous consequences. It is vital that law firms and those in related industries ask the right questions about AI security to protect their clients and their reputation.

COVID-19 and Lease Negotiations: Early Termination Provisions Image

During the COVID-19 pandemic, some tenants were able to negotiate termination agreements with their landlords. But even though a landlord may agree to terminate a lease to regain control of a defaulting tenant's space without costly and lengthy litigation, typically a defaulting tenant that otherwise has no contractual right to terminate its lease will be in a much weaker bargaining position with respect to the conditions for termination.

Pleading Importation: ITC Decisions Highlight Need for Adequate Evidentiary Support Image

The International Trade Commission is empowered to block the importation into the United States of products that infringe U.S. intellectual property rights, In the past, the ITC generally instituted investigations without questioning the importation allegations in the complaint, however in several recent cases, the ITC declined to institute an investigation as to certain proposed respondents due to inadequate pleading of importation.

The Power of Your Inner Circle: Turning Friends and Social Contacts Into Business Allies Image

Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.

Authentic Communications Today Increase Success for Value-Driven Clients Image

As the relationship between in-house and outside counsel continues to evolve, lawyers must continue to foster a client-first mindset, offer business-focused solutions, and embrace technology that helps deliver work faster and more efficiently.