While Vermont climateers are pressing forward their broad and costly agenda here, their counterparts in New York City are well down that same road. Just before Christmas the New York City Buildings Department released the first set of final rules for a landmark climate law passed in 2019 that aims to significantly slash [carbon dioxide ] emissions from buildings that are larger than 25,000 square feet — the city’s biggest source of emissions..
The Washington Post reported (12/22/22) that “The finalized guidelines for Local Law 97 come after three years of uncertainty among property owners over how to comply with the law’s ambitious targets, which begin in 2024…. The rules are meant to help determine each individual building’s yearly emissions allowance and energy use. By 2030, the regulations become much more stringent, with an expected 40 percent drop in buildings’ emissions citywide.”
“Already, the Real Estate Board of New York has warned that about 13,500 commercial buildings are on track to miss strict 2030 compliance deadlines if energy consumption remains the same and if owners don’t purchase offsets, which is meant to compensate for on-site pollution via investments in land restoration or carbon storage elsewhere but is largely criticized by climate advocates as being ineffective.”
“If building owners miss the deadlines, they could face a fine of $268 for each ton of emissions above the established limit, according to the city agency.”Watch for this scheme to appear in Vermont before long.