A citywide cap-and-trade program for building emissions could use the fines levied against noncompliant building owners to invest in a strong, clean tech ecosystem.
This past April, as part of New York’s Climate Mobilization Act, the City Council passed a series of laws targeting building energy emissions, with a goal of reducing carbon emissions from the building sector by 80% by 2050. While the new law presents a major challenge for real estate owners, it also presents an opportunity to spur innovation.
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