The first compliance period for building owners under Local Law 97 (LL97), New York City’s (NYC) landmark climate change legislation, began this year on Jan. 1. Subject to limited exceptions, property owners are required to...more
In an attempt to boost the credibility of the voluntary carbon markets (VCM) and to prepare for the 29th Conference of the Parties (COP 29) in Azerbaijan in November, the White House released on May 28 a policy statement and...more
Jan. 1, 2024, not only marks the start of the new year, but also the start of the first compliance period for building owners under Local Law 97 (LL97), New York City’s (NYC) trailblazing law that imposes limits on greenhouse...more
In 2019, the New York City (NYC) Council enacted Local Law 97 (LL97) in an effort to reduce greenhouse gas (GHG) emissions to net zero by 2050 from the sector of the NYC economy that emits the most GHGs — buildings. As...more
Buildings account for more than 70% of the greenhouse gas emissions in New York City (NYC). To address this problem, NYC has enacted a first-of-its-kind regulation, Local Law 97 (LL97), which establishes increasingly...more
New York City’s Local Law 97 is an ambitious program to reduce greenhouse gas emissions from the City’s 1 million covered buildings. These buildings contribute approximately 70% of the greenhouse gases emitted in the City....more