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The New York City Council passed legislation in April 2019 to mandate that all existing buildings 25,000 square feet or larger must reduce their greenhouse gas emissions by 40% by 2030 and by 80% by 2050. This retrofit bill (Local Law 97) was part of a package of bills called the Climate Mobilization Act. There are 50,000 buildings in New York City that the law applies to, and they are responsible for about 30% of New York City’s total greenhouse gas emissions—”a big number for a small subset of buildings,” said Costa Constantinides, the New York City Council Member who… [more]
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Former Clean Energy Project Manager
Environmental Defense Fund
Earlier last month, the New York City Council introduced an energy efficiency bill package designed to make buildings more energy-efficient. Given that about 70 percent of greenhouse gas emissions in the City come from heating and cooling buildings, regulating how buildings manage energy is crucial to reaching Mayor Bill de Blasio’s goal of reducing citywide emissions 80 percent below 2005 levels by 2050. While these bills represent an important step in the right direction, there are opportunities to strengthen them so the intended reduction in pollution is more effective and long-lasting. For example, Int. 1644 proposes the establishment of a… [more]
View InsightNYCEEC is a non‐profit financial services firm dedicated to financing energy efficiency and clean energy projects in buildings that save energy and reduce greenhouse gases. NYCEEC’s single-focus and deep expertise allow us to provide fast, flexible and streamlined financing to meet the full range of a project’s needs. NYCEEC has provided leadership in the multifamily and commercial market, working closely with incentive providers and utilities on some of the deepest and highest-return retrofits. Visit www.nyceec.com.
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