SPR Attorneys Explain the NYC Building Emissions Law
Sive, Paget & Riesel has been closely tracking the early implementation of the New York City Building Emissions Law (Local Law 97 of 2019), which the City Council passed in April 2019 and amended in July 2019 via Local Law 147 of 2019. The Law requires most buildings over 25,000 gross square feet to meet emissions caps in 2024; the caps will become more stringent in 2030 and again from 2035 through 2050. Building owners, managers, and developers who understand the law and take early action to assess their building portfolios and compliance options will be best equipped to meet these caps in a way that aligns with their business strategies and to avoid substantial penalties. Among other things, we believe there will be opportunities for building owners and others to participate in working groups formed to assist with implementation of the Law and to provide public comments on proposed regulations. SPR attorneys are actively engaged with stakeholders about the Law and its practical implications now and in the future. On July 24, 2019, SPR attorneys Jeff Gracer and Alexis Saba hosted a webinar on the key legal elements of the Building Emissions Law. A re-recorded version of the webinar is available HERE. Also in July, Adam Stolorow spoke on a panel hosted by the Queens Chamber of Commerce about compliance strategies and the financial benefits of energy efficiency, and Alexis Saba spoke on a panel hosted by Duval & Stachenfeld about the framework of the Law and PACE financing, which will soon be available in NYC through Local Law 96 of 2019. Jeff Gracer will be participating in upcoming panel discussions about the Buildings Emissions Law during Climate Week (September 23-27), and Alexis Saba will be speaking on a panel hosted by the Building Energy Exchange in October. Please reach out with any questions about the Building Emissions Law, and stay tuned to the SPR website and blog for current information.