Local Law 97 is the latest in a series of policies and regulations designed to reduce New York City’s carbon footprint and combat climate change. The law was established as part of the Climate Mobilization Act, which was passed by the New York City Council and signed into law by Mayor de Blasio in the spring of 2019. Local Law 97 sets specific GHG emissions limits for designated commercial and other buildings over 25,000 sq. ft., establishes compliance timetables and allocates fines for exceeding the emissions limits.
Building owners whose property’s carbon emissions exceed the limit will begin receiving fines by 2024. Additionally, the law reduces the allowable emissions limits by 2030, meaning that buildings that may be clear under the 2024 limits could begin receiving fines in 2030 if the emissions are not reduced or otherwise mitigated.