nZero, developer of a real-time carbon accounting and management platform, is offering free carbon emissions assessments for buildings in New York City.
The offer is intended to help building owners prepare for the city’s upcoming Local Law 97 reporting requirements and compliance. This law will soon assess monetary fines for buildings with emissions that are in non-compliance.
Nearly 20% of properties are currently over the Local Law 97 caps set for 2024, while about 76% of properties are over the caps set for 2030, according to a nZero news release. “The Real Estate Board of New York (REBNY) estimates 3,700 properties could initially be out of compliance and face over $200 million per year in penalties—this could exceed $900 million annually by 2030,” the release says.
Local Law 97 introduces GHG emissions requirements on buildings over 25,000 sf, and two or more buildings on the same tax lot with a combined size exceeding 50,000 sf. The non-compliance penalty is $268 per metric ton, with the largest non-compliant buildings estimated to be facing fines greater than $100,000 per year. Initial reporting is due May 2025.
“Every building at a certain size will need to meet the new Local Law 97 emissions regulations, but you can't act on what you can't measure,” says Josh Griffin, co-founder and chief policy officer of nZero. “The key to avoiding penalties in May 2025 is early action. Our free assessment helps buildings benchmark emissions now, see what their footprint will look like under the new reporting standards, and offer a decarbonization roadmap based on their unique needs.”
Related Stories
Hotel Facilities | Aug 12, 2022
Denver builds the nation’s first carbon-positive hotel
Touted as the nation’s first carbon-positive hotel, Populus recently broke ground in downtown Denver.
Energy Efficiency | Aug 11, 2022
Commercial Energy Efficiency: Finally “In-the-Money!”
By now, many business leaders are out in front of policymakers on prioritizing the energy transition.
| Aug 8, 2022
Mass timber and net zero design for higher education and lab buildings
When sourced from sustainably managed forests, the use of wood as a replacement for concrete and steel on larger scale construction projects has myriad economic and environmental benefits that have been thoroughly outlined in everything from academic journals to the pages of Newsweek.
Sponsored | | Aug 4, 2022
Brighter vistas: Next-gen tools drive sustainability toward net zero line
New technologies, innovations, and tools are opening doors for building teams interested in better and more socially responsible design.
| Aug 4, 2022
Newer materials for green, resilient building complicate insurance underwriting
Insurers can’t look to years of testing on emerging technology to assess risk.
| Aug 4, 2022
Newer materials for green, resilient building complicate insurance underwriting
Insurers can’t look to years of testing on emerging technology to assess risk.
Sustainability | Aug 4, 2022
To reduce disease and fight climate change, design buildings that breathe
Healthy air quality in buildings improves cognitive function and combats the spread of disease, but its implications for carbon reduction are perhaps the most important benefit.
K-12 Schools | Aug 1, 2022
Achieving a net-zero K-12 facility is a team effort
Designing a net-zero energy building is always a challenge, but renovating an existing school and applying for grants to make the project happen is another challenge entirely.
Codes and Standards | Jul 29, 2022
Few projects and properties are being built beyond code
Clients and architects disagree on how well building to code provides resilience, according to a recent report by the American Institute of Architects (AIA) in partnership with Owens Corning.
Concrete | Jul 26, 2022
Consortium to set standards and create markets for low-carbon concrete
A consortium of construction firms, property developers, and building engineers have pledged to drive down the carbon emissions of concrete.
