Lenders' Role Will Be Key In NYC Green Building Loans

Law360 (January 14, 2021, 5:01 PM EST) -- New York City real estate values have been materially impaired by the COVID-19 pandemic. Thousands of businesses have suffered catastrophic economic losses, as have the landlords who own the buildings in which they operate.

However, there is another significant challenge that will continue well after the pandemic: climate change. The earth is still warming at an unhealthy rate because of greenhouse gas emissions. 2020 was one of the hottest years on record, and the past seven years have been the seven hottest years for the planet overall.

More flooding occurred in 2020 as well. According to the National Oceanic and Atmospheric...

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