Elementa Engineering Publish Whitepaper | New York City’s Climate Mobilization Act: Decarbonizing NYC’s Buildings
NYC buildings resulted in over 70% of all city-wide greenhouse gas emissions in 2017; Retrofits to existing buildings, therefore, offer a huge opportunity to reduce emissions.
On April 18th, 2019 NYC passed an ambitious new local law in relation to its commitment to achieve 80% reductions in aggregate city-wide greenhouse gas emissions by 2050. Any buildings that exceed the stipulated emissions cap will require comprehensive retrofits, need to show alternate compliance through mechanisms such as renewable energy credits, or pay a penalty based on the difference between actual and stipulated emissions in tCO2e/yr multiplied by $268.
This whitepaper by Elementa Engineering Principal Shreshth Nagpal briefly summarizes this new legislation, its immediate impact and outlook, and discusses Elementa Engineering’s unique position to assist with the decarbonization of our existing building stock as NYC prepares to respond to this law.