LL97

Local Law 97 is New York City's building-decarbonization law: it sets greenhouse-gas emissions limits on most buildings above the law's size threshold, with limits that tighten in successive compliance periods and annual penalties for emissions above the applicable cap. The caps vary by building occupancy type, and the law provides adjustment, credit, and alternative-compliance mechanisms whose details continue to evolve through rulemaking.

For ownership economics, LL97 converts a building's energy profile into a recurring line item: an inefficient building faces either retrofit capital costs or projected penalties, and both belong in any serious underwriting. A building's benchmarking history under Local Law 84 is the data foundation from which its LL97 exposure is estimated.