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Developers and building owners, tenants and lenders operating or underwriting loans in New York City, and perhaps beyond, should consider the impact of the city’s newly enacted Climate Mobilization Act (CMA or the Act).
TAKEAWAYS
The Climate Mobilization Act constitutes a profound shift in the regulation of commercial real estate in New York City and all stakeholders including building owners, investors, sellers and purchasers, tenants, and lenders will need to consider how to quantify and allocate the costs of compliance (or non-compliance).
C-PACE (commercial property assessed clean energy) financing will likely become an increasing feature of the landscape of New York City real estate transactions.
If food waste were a country, it would be the third-largest emitter of greenhouse gases behind China and the U.S., according to the World Resources Institute. So far, the 24 cities and three counties that make up Metro, the Portland-area regional government, are addressing this issue, as are the cities of Eugene and Salem. As one of Oregonâs 10 largest cities, itâs time Corvallis joins them.
Facilitating this is a youth-led Corvallis group, Youth Climate Action Now (YouCAN), which is preparing to bring a âCorvallis Loves Food, Not Waste!â initiative to the City Council on Feb. 16. This initiative would require businesses to compost and recycle using existing infrastructure through Republic Services. While businesses already have the option to use composting and recycling, it is relatively expensive and underutilized. This initiative will call for the city of Corvallis to renegotiate its contract with Republic Services to make composting and recycling easier an