Mamdani’s climate justice makes NYC unaffordable |
Zohran Mamdani, the socialist assemblyman from Queens, has won the election to become New York’s next mayor. But on his home turf, many residents are wary of the policies he supports.
Among those policies is Local Law 97, which will require more than 50,000 buildings to reduce emissions by 60% by 2035. For large buildings, complete compliance requires full electrification, and millions of dollars in drastic infrastructure overhauls. The alternative is to pay hundreds of thousands, or even millions of dollars in annual penalties.
And here’s the kicker: even if buildings follow through with electrification, there is currently inadequate electricity supply to support the electrification mandates, and the city has no credible plan to provide it.
Mamdani has stated he will enforce the law fully, with no adjustments. To him, Local Law 97 is about taking on the real estate industry and achieving climate justice. The reality of implementation, however, will exacerbate the same affordability crisis Mamdani has pledged to alleviate.
The financial burden to convert buildings from natural gas infrastructure to electric heat will........