The House Select Committee on the Climate Crisis on June 30 released its blueprint for “Solving the Climate Crisis.”  The plan proposes a menu of mandates and incentives for multiple industry sectors – including commercial and residential real estate – with a goal to achieve a 100% “net zero” emissions U.S. economy by 2050.  (Summary of the 547-page report)

• The plan is widely viewed as a roadmap the Democrats may follow for developing climate policy legislation after the November elections.  The plan is currently not expected to see any action in the GOP-controlled Senate. (Axios, July 1)
  

• A series of 1-page summaries describes specific recommendations to reduce GHG emissions for “Buildings” – and for the “Electricity,” “Financial Risk,” Transportation,” and “Manufacturing” sectors.
  

• The “Buildings” summary covers both new construction and existing buildings.  It includes proposals to:
  
  
  • Set federal energy benchmarking requirements for commercial buildings (which a number of states and localities have already adopted); 
    
    
  • Eliminate emissions from new buildings by 2030 by incentivizing states and cities to adopt net-zero codes;
    
    
  • Use tax incentives to drive commercial building retrofits;
    
    
  • Boost onsite clean energy generation by increasing tax incentives and rebates;
    
    
  • Reduce emissions from building construction by incentivizing building reuse and requiring federal buildings to use lower-emission building materials;
    
    
  • Increase availability of energy efficient affordable housing; and
    
    
  • For federal buildings, enact heightened standards for deep energy retrofits and emissions intensity targets.
    
    
• Select Committee Chair Kathy Castor (D-FL) stated, “Our plan will put people back to work and rebuild in a way that benefits all of us. That means environmental justice and our vulnerable communities are at the center of the solutions we propose.” (June 30 news release)
  
  
• The Roundtable submitted a comment letter to the Select Committee during its public participation period (see Roundtable Weekly, November 22, 2019).
  
  
• The Roundtable’s recently released 2020 Annual Report affirms a proactive “Energy and Climate” policy agenda developed by its Sustainability Policy Advisory Committee, chaired by Anthony E. Malkin (Chairman, President and CEO, Empire State Realty Trust) and vice-chaired by Dan Egan (Senior Vice President, Vornado Realty Trust).