Understanding Local Law 97 and its Impact in NYC
Enacted in November of 2019, the New York City Climate Mobilization Act (CMA) is an ambitious package of legislation aimed at reaching carbon neutrality by 2050. According to the Mayor’s Office of Sustainability, over 70% of New York City’s carbon emissions come from buildings. With goals set to reduce carbon emissions in the city by 40% by 2030 and 80% by 2050, building emissions are critical to achieving these levels. Beginning in 2024, LL97 places stringent and increasing emissions limits on most buildings over 25,000 square feet. Buildings that exceed limits face substantial fines. This makes investments in energy efficiency retrofits and electrification the most economical pathway in many cases. Who is Impacted by LL97? If you’re a multi-tenant building owner in the five boroughs, there’s a good chance you are! Estimates are that 50,000 residential and commercial buildings across the city—60% of total buildings must comply with LL97’s requirements. With some exceptions, L