Environmentalists Argue Carbon Credit Rule Creates Big Loophole for NYC Emissions Law 

January 4, 2023 EcoVadis EN


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.


Read the full article at: commercialobserver.com

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EcoVadis EN

EcoVadis is a purpose-driven company whose mission is to provide the world's most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis’ expert intelligence and evidence-based ratings to manage risk and compliance, drive decarbonization, and improve the sustainability performance of their business and value chain. Its AI-powered risk mapping, actionable scorecards, benchmarks, carbon action tools, and insights guide a resilience and improvement journey for environmental, social and ethical practices across 200 industry categories and 175 countries.

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