On September 3, 2019, Susan Golden, Michael Phillipou, and Hilary Atzrott published "Building owners beware: Failure to comply with NYC emission standard could lead to hefty fines" in New York Real Estate Journal. The following is an excerpt:
In April 2019, the NYC Council approved a "Green New Deal" to reduce greenhouse gas emissions by 2050. The regulations created an Office of Building Energy and Emission Performance (the office) within the Department of Buildings along with laws requiring certain buildings (the covered buildings) to comply with emission ceilings (the emission ceiling.) Covered buildings must be in compliance by January 1, 2024 and certify compliance by May 1, 2025.