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‘This is Going to be a Back Breaker’: Landmark Climate Law Poses Test for NYC’s Co-ops
Local Law 97, New York City's ambitious climate law, calls for most buildings larger than 25,000 square feet to meet new fossil fuel emissions standards next year, with limits getting tougher in 2030 and again in 2050. Failure to comply could result in fines of $268 for every emissions ton above the limit.
While some co-op boards see the mandate as an opportunity to make sustainable upgrades to their buildings, others say it will drain their financial reserves.
“For me, this is urgent,” said Derek Jones, who is on the board of Sherman Terrace Co-op in the Bronx, where residents have invested in a new boiler and rooftop solar panels since the law's passage. “I understand the costs, but there’s no time to putz around.”
Read the story.
More climate & environmental coverage:
Could Thermal Energy Be New York’s Best Shot at Reaching its Climate Goals?
As wind and solar renewable projects across the state hit hurdles, environmental advocates say investing in an underground network of heat pumps is the Big Apple’s best bet at reducing its greenhouse gas emissions.
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