In thinking about what Gotham 360 would do to celebrate Earth Day this year we were reminded of how much has changed since last Earth Day, and how so much is still so different in regards to how we hold events and connect with one another. Throughout the last year, the pandemic has brought to light the overlap between environmental justice communities and the communities and populations hit hardest by the pandemic. We thought it only fitting to check in with some of our healthcare clients to hear their perspective on sustainability programming in hospitals, and how that has or hasn’t changed in the face of the pandemic.

Gotham 360 attended an event hosted by the Building Energy Exchange focused on Local Laws 92 and 94, that require solar and/or green roofs for all new constructions and major roof renovations. The laws were passed as a part of the Climate Mobilization Act (CMA). Thanks to these laws, NYC may now have the most sustainable roofing policy in the world.

The New York City Council has enacted a new amendment to the Local Law 87 Rule. This amendment increases the retro-commissioning testing requirements, and is enforced on buildings filed with the city starting on January 1, 2020.

Section 48 of the Internal Revenue Code currently includes a 30% ITC for solar PV systems, fuel cells, small wind and some other technologies. The ITC allows those who install clean energy assets to subtract 30% of the project(s) value from federal income taxes owed. This 30% ITC significantly raises the economic value of renewable and clean energy projects -- both those pursued through capital purchase and those financed through leases, power purchase agreements, shared savings agreements, etc.

As we discussed in last week’s blog post, Intro 1253 will have operational and financial impacts on buildings throughout the five boroughs, in all sectors. As originally conceived, Intro 1253 targets buildings larger than 25,000 square feet and requires them to meet certain emissions caps beginning in 2022. The bill is set to be passed on Earth Day.

Carbon taxes are coming, and they’re coming fast!

Last week, the NYC City Council released an updated draft of Introduction 1253, a new bill that is likely to be passed into local law. If passed, this legislation will be the nation’s first legislative cap on carbon emissions. It is a part of NYC’s commitment to reduce greenhouse gases (GHGs) by 80% by 2050 (the 80x50 program).

The Board of Trustees of New York's Barnard College, a women's college affiliated with Columbia University, recently voted to divest from energy companies that deny climate change who are currently within the college's $286 million endowment.

Barnard students have pressed the college to establish a broad divestment pledge, a movement that in the last five years has grown to campuses across the country. Last year, a committee of Barnard trustees, faculty, and students endorsed a proposal that would divest from only fossil fuel companies that seek to deny climate science or thwart efforts to mitigate the impact of global warming.