News & Analysis as of

Carbon Emissions Real Estate Development Greenhouse Gas Emissions

Harris Beach Murtha PLLC

NYC Large Building Owners May Owe Compliance Reports by May 1, 2025

New York Local Law 97 (“LL97”) is a landmark piece of climate legislation enacted as part of New York City’s broader Climate Mobilization Act. Passed in 2019, LL97 aims to drastically reduce greenhouse gas emissions from...more

Goulston & Storrs PC

Boston Accelerates Net Zero Carbon

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Last week, the Boston Zoning Commission adopted Net Zero Carbon (NZC) zoning. As addressed in our 2021 and 2023 advisories, this completes a three-part decarbonization strategy, along with the Specialized Energy Code and the...more

Lowenstein Sandler LLP

Going and Staying Green: Sustainability in Real Estate

Today on “Terra Firma: Conversations on Commercial Real Estate,” Stacey C. Tyler and Zachary L. Berliner talk with Alex Lassiter, the CEO and founder of Greenplaces, which helps businesses navigate the complexities of carbon...more

Perkins Coie

City’s Greenhouse Gas Emissions Threshold for Delivery Warehouse was Supported by Substantial Evidence

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The court upheld a mitigated negative declaration for a parcel delivery warehouse project, finding, among other things, that the threshold of significance and baseline used in preparing the MND were supported by substantial...more

Foley Hoag LLP - Energy & Climate Counsel

City of Cambridge Passes Ambitious Net Zero Building Ordinance

On June 26, 2023, the Cambridge City Council voted to amend the city’s Building Energy Use Disclosure Ordinance (BEUDO) to require large non-residential buildings to reach net zero greenhouse gas emissions by 2035 and...more

Goulston & Storrs PC

Boston Initiatives Reduce Greenhouse Gas Emissions

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The City of Boston is advancing three companion regulatory efforts to reduce greenhouse gas emissions for medium-sized and large buildings. As addressed in our 2021 advisory, the Boston Emissions Reduction and Disclosure...more

BCLP

Greening Real Estate - Where are we now? - Energy Efficiency Series - Part 1

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Against the ambitious backdrop set by the Paris Climate Agreement to reach net-0 by 2050, there is a clear drive by corporations to move forward on their environmental, social and governance (ESG) or sustainability...more

Cadwalader, Wickersham & Taft LLP

Local Law 97 Compliance Deadline Looming: ‘One Way or Another – This Darkness Got to Give’

Compliance deadlines for Local Law 97 of 2019 are steadily approaching, with the first reporting date being May 1, 2025, at which time owners of buildings covered by the law will be required to report compliance with the...more

Vinson & Elkins LLP

[Webinar] Real Estate Opportunities in the Energy Transition - May 11th, 12:00 pm - 1:00 pm CT

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Global real estate accounts for over 20% of greenhouse gas emissions and approximately 40% of the world’s energy consumption. As a result, the transition to a low-carbon global economy must include efforts to decarbonize the...more

Jones Day

French Regulations Foster a More Climate-Compatible Building Industry

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As of January 1, 2022, new French environmental regulations ("RE2020") are coming into force, replacing the former thermic regulations ("RT 2012"). RE2020 creates new rules for the energy, environmental, and health...more

Goulston & Storrs PC

Boston Requires Carbon Neutrality for Existing Buildings

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Furthering the aims of Boston’s 2019 Climate Action Plan, which identified large buildings as major carbon emitters, Boston City Council amended the Building Energy Reporting and Disclosure Ordinance (BERDO) to require all...more

Latham & Watkins LLP

UK Net Zero Strategy: Understanding the Impact on Key Sectors

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The strategy sets out plans to reduce emissions from key sectors of the UK economy to ensure that the UK remains on track for net zero by 2050. On 19 October 2021, the UK government published its climate change strategy,...more

Holland & Knight LLP

Boston Passes Ambitious Ordinance Targeting Zero Emissions for Large Buildings by 2050

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Boston Acting Mayor Kim Janey signed an Ordinance Amending City of Boston Code, Ordinances, Chapter VII, Sections 7-2.1 and 7-2.2, Building Energy Reporting and Disclosure (BERDO 2.0) into law on Oct. 5, 2021. The amended...more

Farrell Fritz, P.C.

NYC Climate Mobilization Act – Relief in Sight?

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Local Law 97 of New York City’s Climate Mobilization Act (the “Act”) is the City’s aggressive greenhouse gas emission reduction plan for buildings.  The City has published figures indicating that approximately 70% of...more

Mayer Brown

Scaling Voluntary Carbon Markets: Taskforce Releases Core Carbon Principles and Roadmap

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Over 1,000 firms have made either indicative or concrete pledges to align their greenhouse gas emissions with the Paris Agreement—which means reducing emissions to zero by 2050....more

Orrick, Herrington & Sutcliffe LLP

Financial Incentives for Carbon Capture, Use and Sequestration

Background. - While the fossil fuel industry continues to enjoy a number of tax incentives, a new generation of tax incentives were enacted in the early 2000s to promote the use of renewable energy. These include the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Guidance on Carbon Capture and Sequestration Tax Credit Provides Clarity for Developers and Investors

The Treasury Department and the Internal Revenue Service (IRS) recently released long-awaited proposed regulations regarding the carbon capture and sequestration tax credit provided under Section 45Q of the Internal Revenue...more

Morgan Lewis

IRS Releases Proposed Regulations for Carbon Sequestration Tax Credit

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The proposed regulations, released on May 28 and on which taxpayers may currently rely pending finalization, build on prior guidance for carbon capture and sequestration tax credits under Section 45Q of the Internal Revenue...more

Hogan Lovells

A change in the wind? Heathrow expansion policy ruled unlawful in victory for climate campaigners

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The Court of Appeal returned a ruling on 27 February 2020 that the UK government's policy statement which included the government's approval of the Heathrow expansion was unlawful because it did not consider the impact of the...more

Morgan Lewis

IRS Releases Critical Guidance on Carbon Capture Tax Credits

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The guidance issued on February 19 by the Internal Revenue Service is the type that the carbon capture and storage industry had sought, and will hopefully open up the market for investment by eliminating tax-related...more

Seyfarth Shaw LLP

Climate Mobilization Act

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On April 18, 2019, the New York City Council passed legislation, referred to as the Climate Mobilization Act, which includes bills designed to aggressively reduce carbon emissions produced by New York City’s buildings....more

King & Spalding

New York City and Los Angeles Require New Building Standards to Address Climate Change

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New York City and Los Angeles have announced unprecedented plans to address climate change with an emphasis on greenhouse gas emissions from large buildings. New York City enacted a legislation package requiring certain...more

BCLP

New York City Enacts Greenhouse Gas Emission Limits for Major Buildings

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On April 22, 2019, the New York City Council celebrated Earth Day by enacting the “Climate Mobilization Act” into law. The centerpiece of this important legislative package is Introduction 1253-2018 (“Intro 1253”)....more

King & Spalding

Developers Face New Climate Change Initiatives to Decarbonize Buildings

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Developers and landlords faced the first generation of “green building” initiatives with LEED (Leadership in Energy and Environmental Design) certification and EPA’s Energy Star programs. Now, the states are ready to embark...more

Farrell Fritz, P.C.

Climate Change and Coastal Adaptation in the Tri-State Area

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Thirteen federal agencies released a report in November 2017 in which they conclude that humans are the primary cause of climate change. The report, entitled Climate Science Special Report, is of particular concern to Long...more

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