nZero, developer of a real-time carbon accounting and management platform, is offering free carbon emissions assessments for buildings in New York City.
The offer is intended to help building owners prepare for the city’s upcoming Local Law 97 reporting requirements and compliance. This law will soon assess monetary fines for buildings with emissions that are in non-compliance.
Nearly 20% of properties are currently over the Local Law 97 caps set for 2024, while about 76% of properties are over the caps set for 2030, according to a nZero news release. “The Real Estate Board of New York (REBNY) estimates 3,700 properties could initially be out of compliance and face over $200 million per year in penalties—this could exceed $900 million annually by 2030,” the release says.
Local Law 97 introduces GHG emissions requirements on buildings over 25,000 sf, and two or more buildings on the same tax lot with a combined size exceeding 50,000 sf. The non-compliance penalty is $268 per metric ton, with the largest non-compliant buildings estimated to be facing fines greater than $100,000 per year. Initial reporting is due May 2025.
“Every building at a certain size will need to meet the new Local Law 97 emissions regulations, but you can't act on what you can't measure,” says Josh Griffin, co-founder and chief policy officer of nZero. “The key to avoiding penalties in May 2025 is early action. Our free assessment helps buildings benchmark emissions now, see what their footprint will look like under the new reporting standards, and offer a decarbonization roadmap based on their unique needs.”
Related Stories
Sustainability | Oct 9, 2017
New Arizona State University building will reach triple net-zero performance
The science and research complex will include an atrium biome filled with plants and water.
Sustainability | Oct 4, 2017
The solutions to climate change are already at our fingertips
To keep global temperature rise below 2 degrees Celsius of warming, the International Energy Agency (IEA) reports that the global buildings sector will need to decrease its total annual greenhouse gas contribution by 77% by 2050.
Green | Oct 2, 2017
Five strategies to improve energy performance in existing buildings
After performing retro-commissioning and energy audits for more than five million square feet of existing building real estate, we have developed a list of common low/no-cost Energy Conservation Measures (ECMs) that are identified on the majority of projects.
Codes and Standards | Sep 12, 2017
Washington, D.C. is first LEED Platinum city in the world
All city government buildings are powered by renewables.
K-12 Schools | Aug 31, 2017
Environmental studies building highlights sustainability in every design element
The LEED Platinum and Zero Net Energy Verified building minimizes energy use via its site orientation.
Higher Education | Aug 31, 2017
Hilltop L.A. campus preserves over 90% of its 447-acre site as open space
The Los Angeles campus is being built at a site in the eastern portion of the Santa Monica Mountains.
Data Centers | Aug 16, 2017
The world’s largest data center is being built 140 miles north of the Arctic Circle
The 600,000-sm facility will be on a secure property surrounded by a moat.
Green | Aug 11, 2017
A school’s sports hall is created entirely from bamboo
The building boasts a zero-carbon footprint and is naturally ventilated.
K-12 Schools | Aug 9, 2017
A school in Denmark is clad in 12,000 solar panels
C.F. Møller designed the building to create a connection between the school premises and the surrounding public urban space.
Sustainability | Aug 7, 2017
Existing storage center becomes symbol of renewable energy for a southwestern German town
The tower’s design comes from the Laboratory for Visionary Architecture’s (LAVA) winning competition entry for an energy park and storage tower.
