Addressing our built environment is a critical component of the battle against climate change. According to the Urban Green Council, nearly 70 percent of carbon emissions in New York City are generated by existing buildings, the vast majority of which will still be standing in 2050.
Successful housing policy is based on long-term planning and stability. Real estate requires consistent resources – all parties involved in creating new homes need to know that funding will be available not just today, but over several years. That is why the last five-year housing plan was so successful: it created a steady roadmap for the industry to follow.
The city’s new carbon emissions laws are set to cost the real estate industry some $20 billion over the next decade. And as a retrofitting program that is estimated to be the biggest in the world gets underway, owners are being urged to think ahead to avoid running out of time and help.