NYC Local Law 97 (LL97) places a carbon cap on buildings over 25,000 sq.ft. This is part of the City’s aggressive Climate Mobilization Act aimed at reducing energy usage and greenhouse gas emissions.
Building owners face penalties of $268 per metric ton over their emissions limit, per year. The first emissions limit goes into effect in 2024. Thereafter, an additional 40% reduction in is required by 2030.
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For any questions, you may reach me at r.reyes@VertEnergyGroup.com or give me a call at (949) 200-7198.