New York Climate Mobilization Act Update: Reducing Carbon Emissions and Funding Solutions

Urban skyline with earth brown to green signalling climate change

An outline some of the funding solutions that are available to New York City building owners looking to retrofit their buildings in order to comply with the CMA’s requirements.

August 30, 2021
Caroline A. Harcourt - Gravel2Gavel Construction & Real Estate Blog

In our June 16 CMA Update, we discussed how the New York City Climate Mobilization Act (CMA) will affect building owners and the market for CMBS mortgage loans (loans pooled and resold as commercial mortgage-backed securities). (For more information on C-PACE financing, see Sustainable Buildings and Development: Carbon Emissions and the Recent Climate Mobilization Act of New York City.) In this update, we will outline some of the funding solutions that are available to New York City building owners looking to retrofit their buildings in order to comply with the CMA’s requirements.

Funding Solutions for Covered Building Owners

The cost of retrofitting buildings to incorporate energy efficient features and to achieve compliance with the CMA can be daunting.

Ms. Harcourt may be contacted at caroline.harcourt@pillsburylaw.com



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