Real Estate

Real Estate & Construction News Roundup (08/24/2022) – Local Law 97, Clean Energy, IRA Tax Credits | Pillsbury – Gravel2Gavel Construction and Real Estate Law

This week’s roundup addresses the intersection of real estate and energy efficiency. This includes state initiatives on clean energy laws, the Reduced Inflation Act tax credit, and the hotel and hospitality sector creating sustainable initiatives to reduce carbon emissions.

  • In New York City, building owners are trying to find ways to pay for the upgrades they need to comply with regulations. Outlined in Local Law 97 It aims to fight climate change. (Jane Margolyes, new york times)
  • Maryland, Massachusetts, New York approved clean energy law, enact laws promoting electric vehicles, wind and solar energy. (Ace)
  • The Inflation Relief Act (IRA) signed into law by President Biden this week includes: Expansion of tax credits Building owners and property developers are expected to turn to upgrades for energy efficiency. (Jack Rogers, Grove street)
  • The real estate industry is responsible for approx. His 40% of the world’s carbon emissions and developers are retrofitting buildings to make them more energy efficient. Targeting 485 facilities in one company 100% elimination of carbon emissions By 2040 (Eamonn Barrett, luck)
  • Commitment to Sustainability Its use in the Hotels & Hospitality sector is increasing internationally, including the World Travel & Tourism Council Hotel Sustainability Basics and the Sustainable Hospitality Alliance’s Pathways to Net Positive Hospitality. (Mark Hilsdon, Reuters)
  • Across the country, hotels, both old and new, are pursuing forward-thinking strategies, fight climate change(Tom Austin, business traveler)

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