Home » Industry Supply Chain News » Environmentalists Argue Carbon Credit Rule Creates Big Loophole for NYC Emissions Law

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 is a purpose-driven company dedicated to embedding sustainability intelligence into every business decision worldwide. With global, trusted and actionable ratings, businesses of all sizes rely on EcoVadis’ detailed insights to comply with ESG regulations, reduce GHG emissions, and improve the sustainability performance of their business and value chain across 220 industries in 180 countries. Leaders like Johnson & Johnson, L’Oréal, Unilever, Bridgestone, BASF and JPMorgan are among 150,000+ businesses that use EcoVadis ratings, risk, and carbon management tools and e-learning platform to accelerate their journey toward resilience, sustainable growth and positive impact worldwide.

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