Local environmental groups criticized Mayor Eric Adams for a new rule that will allow New York City landlords to skirt upcoming environmental regulations for buildings by purchasing large quantities of carbon credits.
Last week, the New York City Department of Buildings issued a final version of a long-anticipated carbon credit policy—a key part of the city’s 2019 carbon emissions law for buildings, Local Law 97— that would allow property owners who cannot meet the law’s strict emissions standards through renovations to purchase carbon credits instead. Landlords would be allowed to buy renewable energy credits, or RECs, to offset all pollution generated by a building’s electricity use.
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