DOB Publishes First Set of Local Law 97 Rules

New York City property owners now have some guidance on the reporting on complying with annual greenhouse gas (GHG) emissions limits for buildings as part of Local Law 97, which was enacted on May 19, 2019. The publication by the Department of Buildings comes about 10 weeks following the agency’s release of a “draft of regulations on ways to move forward for roughly 50,000 structures affected by the law.” However, there continues to remain major lingering questions around the creation of funds to support building retrofits and the use of renewable energy credits to offset emissions of which will not be readily available for purchase in the city until at least 2027.

Source:      https://www.crainsnewyork.com/climate-change/first-rules-finalized-local-law-97

Source:      https://www.nyc.gov/assets/dcas/downloads/pdf/cityrecord/cityrecord-12-20-22.pdf