Emissions Reduction Strategy ‘Getting 97 Done” Launched by Mayor Adams

A new comprehensive mobilization strategy to reduce greenhouse gas emissions in large New York City buildings was launched by Mayor Eric Adams. Dubbed Getting 97 Done includes four key elements. Greenhouse gas emission limitations in large buildings start in 2024 under Local Law 97; and fines of $268 per ton of carbon dioxide emitted above a building’s allowance will be issued as the city administration pushes to meet an aggressive target of carbon neutrality by 2050. Recently the DOB proposed rules to provide some leeway for buildings that don’t meet 2024 thresholds by documenting a ‘Good Faith Effort.’ Owners that qualify will be able to invest would-be fines into decarbonization projects in return for extended deadlines. However qualifying buildings are prohibited from purchasing renewable energy credits as part of reaching their emissions reduction targets. Mayor Adams further pointed out that while compliance of Local Law 97 and the Getting 97 Done plan addresses climate change, going green will also save building owners money in the long run.

Source:    https://www.nyc.gov/office-of-the-mayor/news/656-23/mayor-adams-launches-getting-97-done-comprehensive-mobilization-strategy-reduce-building