NYC Co-ops Face Decarbonization Challenges
New York City's cooperative residential buildings are struggling to afford decarbonization due to Local Law 97's stringent emissions limits.
A new report offers a road map to help co-op boards overcome financial and regulatory hurdles through flexible incentives, zoning reform, and collaboration.
the prospect of financing decarbonization solutions appears to be creating the greatest cause for concern among co-op boards and building owners
Local Law 97 Requirements
- Buildings over 25,000 square feet must reduce emissions by 40% by 2030
- Reach net zero by 2050
Author's summary: NYC co-ops need help to decarbonize.
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