From there, the legislation gives landlords until 2050 to double those cuts. “We can’t wait anymore,” City Councilman Costa Constantinides, a Queens legislator who leads the council’s Committee on Environmental Protection, said at the hearing. But meeting it will be costly, particularly for the real estate industry that dominates New York politics and gave rise to such figures as President Donald Trump. To do so, the agreement outlined a roadmap for requiring landlords to retrofit old buildings with energy-efficient technologies. The cap-and-trade market is the only major policy in the world akin to what Constantinides’ bill is trying to do.

Source: Huffington Post December 05, 2018 14:15 UTC