New York City’s Local Law 97: REC Mechanism Lacks Additionality; Will Set Price Too Low
Law Columbia
NOVEMBER 15, 2022
While intended to offer a small amount of flexibility to building owners who might have trouble complying with Local Law 97’s emissions limits, with these rules they risk falling into the same traps that have ensnared other carbon pricing efforts. This echoes the experience of other carbon markets. Additionality.
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