Watch: Urban Green Council’s John Mandyck on tackling climate change in NY

“This is a risk that needs to be managed”

New York /
May.May 10, 2021 07:45 AM

In the next five years, New York City’s building owners will need to radically rethink their approach to climate change — both for the health of the planet, and to avoid hefty fines.

On the latest episode of the REInterview, TRD’s Hiten Samtani sat with the Urban Green Council CEO John Mandyck to break down real estate’s path to a greener future. And one thing is clear: Change is coming, thanks to Local Law 97, a major piece of legislation aimed at reducing the city’s carbon footprint by making its buildings greener.

“[Local Law 97] will deliver the largest carbon reduction of any city in the world,” Mandyck said.

The law will force property owners who manage buildings over 25,000 square feet to meet strict carbon emissions caps by 2024, or face hefty fines.

Mandyck worked closely on the legislation along with the Real Estate Board of New York, among others — “70 people from 42 organizations,” he said. Still, he admits that the legislation is not perfect.

“Density should be your friend for sustainability,” he explained. “Under Local Law 97, it’s not.”

Watch the video above to find out more, or read the latest REInterview for more on real estate’s path to sustainability.


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
NYC’s office sublease surge slows as tenants move to reoccupy space
NYC’s office sublease surge slows as tenants move to reoccupy space
NYC’s office sublease surge slows as tenants move to reoccupy space
The Roger New York hotel at 131 Madison Avenue, Larry Korman of AKA Hotel Residences and Joe Lubeck of Electra America (Google Maps, Getty, Electra)
Electra America JV nabs Roger hotel for $71M discount
Electra America JV nabs Roger hotel for $71M discount
Oceanwide’s US business is sinking. Can it right the ship?
Oceanwide’s US business is sinking. Can it right the ship?
Oceanwide’s US business is sinking. Can it right the ship?
Demir Sabanci and 41-47 West 57th Street (Sedesco, Google Maps)
Sedesco seeks rezoning for new Billionaires’ Row skyscraper
Sedesco seeks rezoning for new Billionaires’ Row skyscraper
From left: Alvin Dworman, 155 East 55th Street, 65 West 55th Street, and 210 East 58th Street (Getty, Google Maps)
Alvin Dworman Sells 3 Manhattan Buildings for $65M
Alvin Dworman Sells 3 Manhattan Buildings for $65M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...