Local Law 97 of 2019, known as the Climate Mobilization Act or NYC Green New Deal, was introduced to address environmental concerns. From the year 2024 onwards this law imposes penalties on buildings that surpass specific emission limits. To avoid these penalties, it is essential to lower building emissions below the designated threshold, which can be achieved through reduced energy consumption.
LL97 penalties depend on the type of building and its current emissions, however, a penalty of $268 is charged for every metric ton of CO2 equivalent above the limit.
The first limits will come into effect in 2024 and extend through 2029: more stringent limits will start in 2030.