What is Local Law 97 Local Law 97 is a law under the 2019 Climate Mobilization Act that targets carbon emissions from the biggest buildings in New York City. Under Local Law 97, most buildings 25,000 square feet and larger will be required to meet carbon emissions cap, or implement energy efficiency standards, by 2024 in order to avoid significant fines. The carbon emissions cap will continue to tighten periodically. By 2030, most buildings 25,000 sq. ft. and larger will have to reduce their emissions by 40%. By 2050, NYC building emissions will need to be lowered by 80%. Individual buildings’ emissions from 2005 will act as the baseline from which emissions will have to be reduced. Buildings are the leading contributor to greenhouse gasses and global warming in major cities. By capping carbon emissions from the largest buildings in cities across the world, legislators aim to slow the rate of global warming and reduce estimates of expected temperature increases in the coming decades to avoid worsening natural catastrophes. Beginning in May of 2025, building owners and managers will have to submit annual emissions reports to prove that their NYC buildings are meeting the new sustainability standards set forth under […] read more