NYC Mayor Calls for Fossil Fuel Reduction Targets to Reduce Carbon Emissions

New York City Mayor Bill de Blasio today announced a new step to limit carbon emissions from the built environment, establishing targets for fossil fuel use in buildings.

The new mandate would require owners of affected properties to have efficient heating and cooling systems, hot-water heaters, and insulation installed in their buildings. The proposal, subject to City Council approval, would apply to existing buildings larger than 25,000 square feet – approximately 14,500 buildings – which contribute up to a quarter of New York City’s emissions.

The initiative is expected to create healthier indoor environments, and lower energy costs for building owners and residents – and to increase employment opportunities in the green workforce for New Yorkers.

The target date for compliance would be 2030, after which noncompliant owners would face penalties. Affordable multifamily buildings would have five additional years to meet their yet-to-be established target; however, wherever feasible, taking action in advance of deadlines will enable building owners and residents reap the benefits of reduced energy use, lower utility costs, and more comfortable spaces well before the deadlines.

The City’s companion proposal to establish PACE – property-assessed clean energy financing – is a welcome tool for financing building upgrades.  

The Association for Energy Affordability (AEA) commends and supports these initiatives.  We are confident that with appropriate financial tools, building owners will be able to meet the targets while maintaining housing affordability.

AEA can lend its technical expertise in multifamily energy efficiency to building owners and property managers looking for cost-effective solutions to help them meet the new targets and identify funding to help them achieve their energy goals.

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