New York City and New York State have introduced parallel initiatives to achieve economy-wide carbon neutrality by 2050. Multiple goals influence the real estate sector directly.
- The Climate Leadership and Community Protection Act (CLCPA) requires a 40% reduction of greenhouse gas emissions by 2030 and 85% by 2050.
- The Climate Mobilization Act, also called Local Law 97, lays out strategies to lower greenhouse gas emissions and boost energy efficiency in buildings throughout NYC. It applies to both new construction and retrofits.
The state and city objectives mandate that homeowners, businesses, and multi-family building owners comply with the initiatives by designing, modifying, and retrofitting as necessary. A variety of financial incentives support this ambitious agenda.
In Creating an Energy Incentive Playbook for Your NYC Assets, STRATCO’s Rob Sedaghatpour and Mitchell Flaherty of B6 Real Estate Advisors discuss this legislation’s short- and long-term impacts and promote the need for strategic solutions.
Robert Sedaghatpour is the founder and managing partner at STRATCO. He has assembled a multidisciplinary team of professionals with diverse skills and unwavering commitment to the highest levels of ethics and business conduct. Data scientists, engineers, architects, attorneys, and human-centric designers collaborate seamlessly to develop innovative systems and value propositions that effectively bring incentive programs to the real estate community.