Got Emissions? You're Not Alone. nZero to Help Buildings Comply with Local Law 97

A free carbon emissions assessment is available to any building grappling with data reporting and remediation ahead of the looming May 2025 deadline

NEW YORK, Aug. 8, 2023 /PRNewswire/ -- The premier carbon management and accounting platform nZero is helping buildings in New York City prepare for the upcoming Local Law 97 reporting requirements and compliance. Local Law 97 will soon assess real, substantial consequences in the form of monetary fines for emissions non-compliance. Nearly 20% of properties are currently over the Local Law 97 caps set for 2024, while about 76% of properties are over the caps set for 2030. The Real Estate Board of New York (REBNY) estimates 3,700 properties could initially be out of compliance and face over $200 million per year in penalties – this could exceed $900 million annually by 2030. To help the city's property owners and managers prepare, nZero is introducing a free carbon emissions assessment – a carbon "check-up" – for buildings struggling with how to calculate their carbon footprint and get compliant-ready. 

"Every building at a certain size will need to meet the new Local Law 97 emissions regulations, but you can't act on what you can't measure," said Josh Griffin, Co-founder and Chief Policy Officer of nZero. "The key to avoiding penalties in May 2025 is early action. Our free assessment helps buildings benchmark emissions now, see what their footprint will look like under the new reporting standards, and offer a decarbonization roadmap based on their unique needs."

Buildings account for approximately two-thirds of greenhouse gas (GHG) emissions in New York City. To cut emissions and meet city carbon neutrality goals, Local Law 97 introduces GHG emissions requirements on buildings over 25,000 square feet, and two or more buildings on the same tax lot with a combined size exceeding 50,000 square feet. Those who are non-compliant are at risk of a $268 per metric ton penalty, with the largest non-compliant buildings estimated to be facing fines greater than $100,000 per year. Initial reporting is due May 2025, based on 2024 building data, introducing an urgent need to future-proof buildings around the city.

The nZero platform provides frictionless, automated data collection, emissions calculations, and compliance reporting for Local Law 97. Buildings that opt into the free trial will receive baseline emissions measurements and insights through seamless remote utility meter readings. Further services include leveraging AI and machine learning to create a cost-effective decarbonization plan through nZero's Insights & Recommendations Engine, building a sustainability roadmap for the future. 

The only platform with Local Law 97-approved time-of-use (TOU) emission factors, nZero's 24/7 tracking technology provides hourly emission factors to ensure data is accurate and audit-ready. Without TOU, buildings have no insight into how the cost of electricity varies each day. The granular hourly insights available from nZero's 24/7 carbon emissions tracking and measurement technology lends itself to the platform's predictive capabilities, enabling early identification of potential Local Law 97 violations. Buildings utilizing nZero's carbon emissions management and accounting services position themselves ahead of the curve, ensuring emissions levels are well below the carbon caps.

"Exploring emissions data now will provide an understanding of current emissions levels so buildings can make changes without fear of financial penalty in the future. nZero is well positioned to support the buildings of New York City as they prepare for the new reporting requirements, simultaneously reducing their costs and carbon," said Griffin.

As conversations around emissions regulations increase, many other cities and states around the nation are implementing their own reporting requirements for buildings. Colorado recently passed the "Energy Performance for Buildings" law, requiring owners of buildings of 50,000 square feet or more to report energy use to the Colorado Energy Office. They are joined by states such as California, Washington and New Jersey who have implanted state-wide laws. nZero is making compliance simple, no matter the location, and is able offer assessments to buildings in their local markets using the same technology being utilized for Local Law 97.

To learn more about nZero, please visit https://nzero.com/.

About nZero
nZero is a real-time carbon accounting and management platform that collects, analyzes and produces the world's most accurate emissions and insights data to help NGOs, government agencies and organizations accelerate their journey to net zero. nZero utilizes a proprietary carbon data model to capture and automate all emission points from an organizations' operational footprint at the highest granularity possible and provides 24/7 analysis of scope 1, 2 and 3 emissions. Unlike other offerings that rely on third-party data and opaque averages, nZero's accurate, first-party, contextual data helps clients understand changes hour-by-hour, access metrics to reach climate goals and reduce operational and capital costs. nZero's data is audit-ready and compliant with all reporting criteria, mitigating risk and ensuring that organizations are prepared for new rules, regulations, and financial reporting demands. nZero recognition includes the 2022 "Leader in Sustainability" Award from the Economic Development Authority of Western Nevada (EDAWN), the 2022 Sustainability Product of the Year Award from Business Intelligence Group, a TIME Magazine Best Inventions of 2022 recipient, as well as an honorable mention on Fast Company's 2022 World Changing Ideas List.

SOURCE nZero