Los Angeles has presented its own version of the Green New Deal.The sustainability plan is to increase the city's current energyreduction goals. Overall, the plan aims to move the city's power to55% renewable energy sources by 2025, 80% by 2036, and 100% by2045. For commercial real estate specifically, the plan requiresproperty owners reduce building energy consumption by 22% persquare foot by 2025, 34% by 2035 and 44% by 2050.
“As cities are passing or contemplating passing legislation todrive efficiency in buildings, from the owners' perspective thebase of goals is within a reasonable framework and can help themachieve attractive returns back from those investments,”Alec Manfre, CEO of smart building softwarecompany Bractlet, tells GlobeSt.com. “Overall, thegoals that cities are setting out are exciting, and I think thatowners can view them as a win-win for the city and its goals aswell as the building and the value that is attached to them.”
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