Trump's NYC Buildings Could Face Millions in Fines for Climate Change Violations

Trump's NYC Buildings Could Face Millions in Fines for Climate Change Violations

Five New York City properties linked to Donald Trump could face millions in penalties over the next decade for failing to comply with the city's landmark building emissions law, Local Law 97 (LL97). This law, aimed at reducing the city's carbon footprint, requires buildings larger than 25,000 square feet to meet specific emissions limits or face hefty fines.

Trump's Properties in the Crosshairs

According to a penalty calculator created by the Building Energy Exchange, several Trump-affiliated properties, including the iconic Trump Tower and the Trump Building at 40 Wall Street, could face significant financial repercussions. These properties are currently above their 2024 emissions cap and could face fines starting next year.

The Price Tag of Inaction

The penalty for exceeding emissions limits increases over time, and the calculator projects that Trump could be responsible for paying millions in fines for his properties in the coming years. The fines are based on a $268 fee for every metric ton of carbon dioxide emitted above the limits.

Who Pays the Price?

In properties where Trump holds ground leases, such as 40 Wall Street and 4 to 10 East 57th Street, he would be considered the owner and responsible for the fines. For other properties where Trump has partial ownership, such as Trump Tower, the fines would be distributed among all owners based on their shares.

Environmentalists and Opposition

Environmental groups are urging Trump and other property owners to make the necessary energy efficiency upgrades to comply with LL97. They argue that failure to do so will not only contribute to climate change but also result in hefty fines. They are also concerned about potential loopholes in the law that could allow landlords to avoid compliance.

The Future of LL97

The law is facing opposition from the real estate industry, and there are concerns about the potential impact of fines on property owners. However, the Department of Buildings (DOB) maintains its commitment to enforcing the law and achieving the city's climate goals. Experts warn that failure to comply with LL97 will have significant consequences for the city's efforts to combat climate change.

Key Takeaways:

• Trump's NYC properties could face millions in fines for exceeding emission limits under Local Law 97.
• Fines for exceeding emissions limits increase over time, potentially reaching millions of dollars per year.
• Trump's responsibility for fines varies depending on his ownership structure in each property.
• Environmental groups are urging Trump and other property owners to comply with LL97 to reduce the city's carbon footprint.
• The law faces opposition from the real estate industry, but the DOB is committed to enforcing it.