The ESG 411: Local Law 97 – Greening NYC’s Power Grid, Total Building Electrification or Both?
July 10, 2023
Stroock Podcast
The growth of building level greenhouse gas emission legislation continues to intensify across the United States. Starting in New York City in 2024, under Local Law 97 (LL 97) - the centerpiece of the City’s Climate Mobilization Act – building owners will be required to furnish a report detailing their property’s annual energy use while facing steep penalties for non-compliance. A flurry of rulemaking activity is expected throughout the remainder of the year to help building owners understand their compliance obligations.
In this edition of The ESG 411, Rusty Pomeroy focuses on the intent of LL 97: is it simply to reduce greenhouse gas emissions (as is expressly stated) or does it aim to electrify all buildings? Are these aligned and what steps would be necessary to accomplish both?
Rusty continues exploring sustainability initiatives and LL97 this Thursday, July 13, at Bisnow’s National Sustainability & ESG Conference in New York City. He will moderate the expert panel, “Compliance with Local Law 97: What to do with Class B & C Buildings,” discussing topics such as:
- the fundamental difference of achieving sustainable metrics with existing buildings vs. ground up construction; and
- enhancing the long-term value of your assets by complying with Local Law 97 and not applying greenwashing tactics.
Learn more about the conference here (and if you’re interested in attending, enjoy 20% off the registration fee using this special code: SEI20yU8mA).
Listen to the latest episode below.
Catch all of The ESG 411 episodes here.
July 10, 2023
Stroock Podcast
The growth of building level greenhouse gas emission legislation continues to intensify across the United States. Starting in New York City in 2024, under Local Law 97 (LL 97) - the centerpiece of the City’s Climate Mobilization Act – building owners will be required to furnish a report detailing their property’s annual energy use while facing steep penalties for non-compliance. A flurry of rulemaking activity is expected throughout the remainder of the year to help building owners understand their compliance obligations.
In this edition of The ESG 411, Rusty Pomeroy focuses on the intent of LL 97: is it simply to reduce greenhouse gas emissions (as is expressly stated) or does it aim to electrify all buildings? Are these aligned and what steps would be necessary to accomplish both?
Rusty continues exploring sustainability initiatives and LL97 this Thursday, July 13, at Bisnow’s National Sustainability & ESG Conference in New York City. He will moderate the expert panel, “Compliance with Local Law 97: What to do with Class B & C Buildings,” discussing topics such as:
- the fundamental difference of achieving sustainable metrics with existing buildings vs. ground up construction; and
- enhancing the long-term value of your assets by complying with Local Law 97 and not applying greenwashing tactics.
Learn more about the conference here (and if you’re interested in attending, enjoy 20% off the registration fee using this special code: SEI20yU8mA).
Listen to the latest episode below.
Catch all of The ESG 411 episodes here.
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