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New York City enacted Local Law 97 (LL97) in 2019 as part of the Climate Mobilization Act, with the main goal of achieving carbon neutrality by 2050. Local Law 97 establishes carbon emission limits for New York City’s largest buildings. Covered buildings that exceed annual emissions limits will face an annual financial penalty of $268 per ton of CO2 equivalent over the limit based on 2024 energy usage and emissions. Emissions are calculated based on tons of CO2 equivalent per square foot.
Local Law 97 timeline
2024:
Buildings over 25,000 square feet must prepare for adjusting their carbon emissions to comply with LL97.
May 1, 2025:
Deadline for reporting carbon emissions for the previous year, buildings over 25,000 square feet. Fines apply and start.
2030:
Stricter emissions limits come into effect and fines increase.
2034:
Stricter limits continue.
2050:
The goal is to achieve net zero emissions for the city’s largest buildings.
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