Landlords can buy their way out of NYC's climate law starting this week

Landlords can buy their way out of NYC's climate law starting this week

As a candidate, Mayor Zohran Mamdani had pledged to close loopholes in Local Law 97.

Landlords In NYC Can Buy Their Way Out Of Climate Compliance

One way or the other, all it means is that tenants will be paying Landlords can buy their way out of NYC’s climate law starting this week As a candidate, Mayor Zohran Mamdani pledged to close loopholes that allowed landlords to limit compliance with the city’s landmark law capping building emissions. But later this week,...

NYC Landlords Can Now Buy Their Way Past Climate Law Fines

New York City building owners got a new tool this week to sidestep the city's toughest climate law: starting Wednesday, they can purchase an unlimited number of renewable energy credits, each priced at $35.52, to offset the carbon emissions that count against their properties under Local Law 97. The credits, backed by hydropower newly flowing into Queens from Quebec, are cheaper than either retrofitting a building or paying the law's steep nonco…