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Advocates say Mayor Adams may be opening climate loophole for NYC landlords
By
Rosemary Misdary
Published Oct 16, 2024
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By
Rosemary Misdary
Published Oct 16, 2024
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Advocates say new rules issued by Mayor Eric Adams' administration are giveaways that will help the real estate industry avoid complying with New York City’s landmark climate goals.
The city held a virtual briefing last week on the new rules, which would allow building owners to pay in lieu of reducing emissions. Local Law 97 requires buildings over 25,000 square feet to reduce pollution by 40% by 2030 and have net-zero emissions by 2050. Under the new rule, buildings could purchase "offsets" to have those requirements eased by up to 10%.
A separate rule would also allow building owners to seek relief from the emissions caps due to financial hardship or issues with the property itself. Advocates worry that wealthy building owners will find loopholes in the new regulations and undermine Local Law 97’s goal of reducing pollution from buildings, which are responsible for two-thirds of greenhouse gases in the city.
“Pollution would be reduced less if they're granting those kinds of lower pollution limits and handing them out like party favors,” said Pete Sikora, climate and inequality campaigns director with New York Communities for Change. “The limits are fair, affordable and achievable.”
As an example of potential loopholes, Sikora pointed to the new regulations regarding buildings with a “physical condition that prevents compliance with the limits.” He said that would likely include buildings with light displays that use lots of energy, like ones in Times Square.
The Times Square Alliance didn’t respond to an inquiry.
Local Law 97’s emissions limits have faced pushback from the Real Estate Board of New York, as well as low-to-middle income co-ops that say they can’t afford the necessary climate friendly upgrades. Gothamist has previously reported on staffing shortages at the Department of Buildings, which is tasked with ensuring buildings are in compliance. At last week’s briefing on the new rules, a Department of Buildings official mentioned the agency is looking to outsource some of its administrative work to a private third party.
The details of the new regulations are part of the Adams administration's new effort to fund decarbonization and electrification of affordable housing developments using money from building owners who purchase the offsets.
Adams touted the effort as a way to “make it more affordable to go green and save green.”
“Our proposed standards are intended to strike the right balance, which will help the city achieve its emissions goals without unnecessarily penalizing buildings that have significant financial or physical difficulties that make retrofits not possible,” buildings department spokesperson Andrew Rudansky wrote in an email.
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Health and Science
Rosemary Misdary
Rosemary is health & science reporter. Got a tip? Email [email protected] or Signal 646-544-9524.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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