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
Sports and Recreational Facilities | Apr 19, 2017
Mercedes-Benz Stadium delayed until late August
The stadium is now scheduled to open on Aug. 26 in a preseason game between the Falcons and the Jaguars.
Multifamily Housing | Apr 18, 2017
Hanging Gardens-inspired CLT residential development proposed for Birmingham
Garden Hill will provide an ‘oasis-like residence’ for Birmingham’s growing, multicultural student population.
Green | Apr 14, 2017
Sunqiao looks to bring agriculture back to Shanghai’s urban landscape
Vertical farms will bring new farmable space to the city.
Sustainability | Apr 13, 2017
How to make a concrete bunker livable
SOM’s design for New York’s second Public Safety Answering Center leans on strategically placed windows and the outdoor environment.
Green | Apr 11, 2017
Passivhaus for high-rises? Research demonstrates viability of the stringent standards for tall residential buildings
A new study conducted by FXFOWLE shows that Building Teams can meet stringent Passivhaus performance standards with minimal impact to first cost and aesthetics.
Codes and Standards | Apr 6, 2017
Product-specific EPDs seen as key aid to earning green building credits
The product-specific EPDs allow designers to more quickly earn a LEED v4 credit in the Materials & Resources category.
Sustainability | Apr 4, 2017
Six connected CLT towers create an urban forest in India
The mixed-use towers would each rise 36 stories into the sky and connect via rooftop skybridges.
Urban Planning | Apr 3, 2017
Capturing the waterfront draw
People seem to experience a gravitation toward the water’s edge acutely and we traverse concrete and asphalt just to gaze out over an open expanse or to dip our toes in the blue stuff.
Mixed-Use | Mar 27, 2017
The Plant brings terrace-to-table living to Toronto
Curated Properties and Windmill Developments have teamed up to create a mixed-use building with food as the crux of the project.
Sustainability | Feb 28, 2017
Workplace wellbeing
Organizations are starting to realize that there are benefits to addressing employee wellbeing.
