Under NYC Local Law 97 (Annual Greenhouse Gas Emissions), most buildings larger than 25,000 square feet must meet caps on their greenhouse gas emissions beginning in 2024 or face hefty fines. By 2030 and 2050 there are increasingly tighter limits. 2024 though is right around the corner and the NYC Department of Buildings has finally issued rules on how condo and coop boards can comply with Local Law 97.
Boards and their management should familiarize themselves with the DOB’s 26 pages of rules which gives guidance on complying with this looming legal requirement. Here is the final rule the DOB released.
Final-Rule-Procedures-for-Reporting-on-and-Complying-with-Annual-Greenhouse-Gas-Emissions-for-Certain-BuildingsDownload
