Thirteen property owners in New York City have agreed to invest in technology like sensors, solar panels, LEDs and other energy efficiency solutions, and the buildings’ combined efforts will save $175 million in energy costs.
The properties are joining in the NYC Carbon Challenge, which include Google, Barclays and Deutsche Bank, and will remove an additional 360,000 metric tons of carbon emissions. Overall, the NYC Carbon Challenge hopes to save $700 million in energy costs and reduce 1.5 metric tons of carbon emissions by the time it is completed.
Participants in the carbon challenge develop and implement long term energy plans and apply technology to reduce carbon emissions from buildings. New York City says it will use results from the initiative to form its overall strategy to decarbonize buildings throughout the city.
The program began in 2007 and includes more than 125 organizations and 3,000 buildings across the city’s five boroughs. The city says participants have cut their annual emissions by more than 600,000 metric tons of carbon and have saved nearly $200 million a year in lower energy costs.
Several of the new partners in the carbon challenge are already implementing energy efficiency strategies.
Beam Living says it has doubled Manhattan’s solar capacity by installing solar panels on the roofs of each of its 110 buildings. The real estate management company has also installed 13,000 LED light bulbs in common areas and has embedded advanced sensors throughout its complexes. Beam Living says it continues to investigate new energy efficient technologies.
InterContinental New York Barclay says it is utilizing energy efficient lighting, heating and water systems and operates extensive waste management programs. Google says it was a part of the original NYC plan and exceeded goals of reducing emissions by 50% seven years ahead of the program’s goal.
Participants in the program will help the city identify strategies to help exceed minimum compliance requirements under 2019’s Climate Mobilization Act, New York City’s building energy efficiency mandate. Successful practices will also be shared with the NYC Accelerator program to help the city speed up its decarbonization effort.
The NYC Carbon Challenge pledge’s goal is to reduce 30% of emissions by 2025. Already 21 participants have met that with 19 more committing to a 50% or greater emissions reduction. Buildings are one of the largest contributors to greenhouse gas emissions and the city hopes to start achieving carbon neutrality in some buildings by 2030.
Other building owners that joined the carbon pledge are Credit Suisse, Empire State Realty Trust, JB&B, Loews Regency Hotel, Marion Scott Real Estate Inc, RiseBoro Community Partnership, StuyTown Property Services, The Westin New York at Times Square and Yeshiva University.