The Impact of Local Law 97 on NYC's Commercial Buildings
By Otis Duffy, Otis Duffy Centum Broker of Record NY, NJ & FL
(Centum Real Estate Group)
"Understanding Local Law 97: How NYC is Reducing its Carbon Footprint" If you're a resident or business owner in New York City, you may have heard about Local Law 97, also known as the Climate Mobilization Act. Passed in 2019, this legislation aims to reduce carbon emissions from large buildings in the city, with the goal of combating climate change and achieving carbon neutrality by 2050. So, what exactly does Local Law 97 involve, and how does it aim to reduce carbon emissions in NYC? Here's what you need to know: The legislation applies to buildings over 25,000 square feet. This includes both commercial and residential buildings, as well as mixed-use buildings with at least 50% of their floor space being used for commercial purposes. Local Law 97 sets emissions caps for each buildin...