08 Oct GHG Emissions – ACT – Don’t REACT
GHG Emissions – ACT – Don’t REACT
As mankind battles COVID-19, we have seen the impact it has had on health and economies all around the world. The global struggle to #FlattenTheCurve of coronavirus has brought us canceled flights, closed businesses, and a quickly escalating economic slowdown that could be devastating to millions.
If at all there is something positive about Covid-19, it is the reduction in Greenhouse Gas Emissions this year. Experts are predicting that the health crisis will cause global emissions to drop for the first time since 2009, although they are certain to go back up once the economy gets back on its feet.
In line with the global trends, it is also time for Building Owners to prepare for the Local Laws set out to reduce GHG EUI Emissions in New York City.
ACT – Don’t REACT
In May of 2019 New York City passed the Climate Mobilization Act. This new law places buildings on a path to reduce overall carbon emissions (80%) by 2050 (80 x 50 Goal). Buildings, of all sizes, represent nearly 70% of the City’s emissions.
New York City will evaluate your Benchmarking scores that are provided to the city under Local Law 84 and Local Law 133. The city will then calculate the GHG EUI Emissions your building generates, and if they go over the limits defined by the city, you will be subject to hefty fines. Your limits are calculated by which occupancy group your building is categorized in.
New York City is at a crossroad. Reducing the carbon emissions by a significant amount i.e. 80% by 2050, will take a significant amount of effort. The built environment being one of the major Carbon Emitters, is now facing a huge challenge.
Not all is lost – Be Proactive
While Building owners face a challenge, it can be used to their advantage as well. Timely compliance will result in better savings, increased property values, and a better environment.
To avoid non-compliance penalties designed to “incentivize” better building efficiencies, we recommend that building owners begin planning now. Owners and property managers should consider making energy conservation measures (ECMs) and operational changes such as mechanical equipment retrofitting, light retrofitting, lighting upgrades, or potentially looking at controls and procedures. The Cotocon Group are experts in compliance with Local Laws and provide smart solutions to help building owners reduce energy use, get into compliance, and save money.
The Reward v/s The Risk
We face two huge challenges, The Corona Virus i.e. COVID-19 and the Environment. If we act smartly, intelligently and proactively, we will come out better at the end of this pandemic.
The Cotocon Group wishes everyone to stay inside and stay safe. Here’s a quote from our C.E.O Jimmy Carchietta “ Nothing should go back to normal – Normal wasn’t working…if we go back to the way things were, we will have lost the lesson – May we rise up and do better!”
To know more about how you can reduce your GHG EUI Emissions, get in touch with us.