Legal news

Carbon Emissions and the NYC Climate Mobilization Act

The Climate Mobilization Act constitutes a profound shift in the law of commercial real estate in New York City–along with also all stakeholders including building owners, investors, sellers and buyers, tenants, and lenders will need to think about how to measure and allocate the expenses of funding (or non-compliance). Back in”Sustainable Buildings and Development: Carbon Emissions and the Current Climate Mobilization Act of New York City”, colleagues Caroline A. Harcourt, Sheila McCafferty Harvey, also Jacob A. Axelrod discuss the potential Effect of the recently commissioned Climate Mobilization Act (CMA or the Act) for developers and building owners, lenders and tenants working or underwriting loans in New York City.