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After Pandemic, New York’s Buildings Face Daunting Decarbonization Mandate

GreenTechMedia

Saturday marked the one-year anniversary of the passage of perhaps the most ambitious law ever adopted by a U.S. Local Law 97, one of 10 bills in the sweeping Climate Mobilization Act , requires New York City’s 50,000 largest buildings to reduce their carbon emissions by 40 percent by 2030 and by 80 percent by 2050.

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? Banking on green financing

Climate Tech VC

When the measure failed , state green banks were established, beginning in Connecticut in 2011 and operating in 28 states as of last year. Since 2011, green banks have driven $14.8B The number of green banks in the US is growing but remains relatively small. in investments —$4.2B public and $10.6B in private.