Carbon Accounting and Marketplaces Will Make Decarbonization a Reality

The world embraced 2021 with glimmers of hope that the pandemic may soon be behind us. And, while there are indeed many reasons to celebrate, we also have less time to avoid the worst effects of climate change. 

One area seeing a lot of attention recently is buildings, since they account for 40 percent of all energy used in the U.S. New York City’s new Local Law 97 aims to reduce this metric by setting strict standards for buildings to reduce carbon emissions through energy efficiency and renewable energy. Failure to comply can lead to multimillion-dollar fines, and false reporting can lead to jail time.

As NYC building owners comply with LL97, we should see a much cleaner and more energy-efficient city. But how will we know if buildings are indeed complying? And how can we ensure that NYC will reduce its emissions, rather than just collect fines? We need carbon accounting and a secondary marketplace.

The first best step to compliance is making a building as energy-efficient as possible: switching to LED lights, electrifying HVAC, improving insulation, installing double-pane windows, utilizing smart controls, and more. 


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