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REBNY: Building Emissions Bill Falls Short
The New York City Council has passed the Climate Mobilization Act, a package of bills that the council called “one of the most ambitious and innovative legislative initiatives any major city has ever considered to combat the existential threat of climate change.”
However, the Real Estate Board of New York says the Act’s centerpiece, Introduction 1253-C, “will have a negative impact on our ability to attract and retain a broad range of industries” while missing its stated goals in reducing buildings’ carbon emissions.
“There is no greater challenge to our city, state, and planet than climate change,” said REBNY president John H. Banks. “The real estate industry and other stakeholders support the goal of reducing carbon emissions 40% by 2030. Unfortunately, Intro 1253 does not take a comprehensive, city-wide approach needed to solve this complex issue.” It falls short, he added, by including only half the city’s building stock.
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