As many building owners in New York City know, Local Law 97 went into effect on Jan. 1, 2024. It is an aggressive plan to cut harmful emissions in New York City by requiring, with some rare exceptions, buildings in excess of 25,000 square feet to reduce their carbon emissions by 40% in 2030 and 80% in 2050.

While there are still many evolving nuances to the guidelines, we know the timeline for affected covered buildings to comply has begun. However, owners of certain qualified buildings may elect to undertake and complete “prescriptive energy conservation measures” by Dec. 31, 2024.