New legislation lays foundation for New York as PACE capital

sustainability fotolia 230
By Jennifer Kang
23 Jul 2019

New York has passed several pieces of legislation in the past two months aimed at reducing carbon emissions, including some that are set to transform the state into the largest market for Property Assessed Clean Energy (PACE) finance in the US.

On July 18, New York governor Andrew Cuomo signed into law the Climate Leadership and Community Protection Law. The bill requires the state to reduce greenhouse gas emissions 40% by 2030, and 85% by 2050, from 1990 levels.

New York City passed something similar in April under the Climate ...

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