Construction & Real Estate | Energy Efficient Buildings | Government Policies
Local Law 97 is setting stringent carbon emission limits for large properties in New York City, with escalating requirements aiming for a carbon-neutral city by 2050. While the real estate industry shows resistance, opportunities arise for investments in green technologies and services, such as carbon capture and renewable energy installations. This mandate is pushing the real estate market towards significant financial and operational shifts, with Blackstone and other major investors capitalizing on these emerging green economy prospects.
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