Or at least some of the crazy ideas that come out of it. Meet Local Law 97 (LL97). “The goal of LL97 is to reduce the emissions produced by the city’s largest buildings 40 percent by 2030 and net zero by 2050.” Most buildings over 25,000 square feet are required to meet new energy efficiency and greenhouse gas standards regardless of age. Lofty goals with hefty consequences.
Like all law, it established the Local Law 97 Advisory Board and Climate Working Groups which are supposed to advise the city on how best to meet the LL97 mandates. The bureaucratic agencies are sure to milk this for as long as they can to maintain employment and that requires towing the party line. The advise will match the advocates with disregard for consequence.
Many buildings falling under these rules will be housing complexes. Anyone involved in construction, renovations, or retrofits can attest these will be costly measures. Here lies the first mistake. Economies do not run well on deficits and investors will not tolerate losses. Owners of these complexes will abandon at the expense of tenants. The result will be higher housing costs for all as the migration begins, not to mention the human toll on those who cannot afford to move.
Moving from older heating methods and non fuel systems in a place like New York means electricity. Mistake number two. The electrical grid capacity is already stretched and much of it is produced with fossil fuels to boot. Compliance with the law will increase demand on an over taxed system while giving a false sense of accomplishment.
The long view of the short sighted law is a housing shortage, increased costs, greater demand on the grid, and human toll that may not be measurable. But hey, your saving the planet, not the people, right?