New York State and New York City have enacted climate legislation with ambitious energy efficiency and greenhouse gas reduction targets. New York State’s Climate Leadership and Community Protection Act (CLCPA) and New York City’s Local Law 97 (LL97) impact various housing sector stakeholders, including owners, developers, renters, and financiers. Compliance will require significant investments over the next two decades, especially for high-emission buildings. While market-rate properties can finance upgrades through operating income or debt, affordable housing faces financial challenges.
Recommendations in this paper focus on strategies to make compliance more feasible and accelerate decarbonization for all housing sectors.
Date
October 1, 2022
Authors
Decarb Topics
- Decarbonization
- Energy Efficiency
- Funding and Financing
- Policy
- Retrofit
Resource Type
- Report