In this series, we’re exploring state and local building efficiency regulations to give you a bird’s-eye view of the policies that may impact your portfolio.
With a population of 8.4 million and more than half of its greenhouse gas emissions coming from its building stock alone, New York City is a key player in the nation’s climate change response. And its energy requirements reflect just that.
New York and New Jersey are targeting an approximate 80-85% reduction in greenhouse gas emissions by 2050. One notable measure is New York City’s 2019 Climate Mobilization Act, which requires buildings over 25,000 square feet to cut emissions by 40% by 2030, and by more than 80% by 2050. To get there, the city goes beyond requiring your run-of-the-mill energy benchmarking and compliance; it is the first city to set a limit on carbon emissions for existing buildings, and requires new buildings to meet stricter energy efficiency requirements. The Climate Mobilization Act is a comprehensive package that includes several of the measures listed below.
We’ve rounded up the key building energy requirements, policies and plans for New York and New Jersey in the table below: