Do BEPS Change Owner Behavior? Business Impacts of NYC LL97
Friday, October 23, 2026 11:30 AM to 12:30 PM · 1 hr. (US/Eastern)
Policy & Frameworks
Information
Building Energy Performance Standards (BEPS) are intended to translate climate policy into real investment decisions, but their effectiveness depends on how owners respond in practice. As New York City’s Local Law 97 (LL97) enters its second reporting year, building owners continue to face complex choices related to capital investments, managing operational risk, and positioning assets for long term performance. This session brings together a panel of New York City building owners to examine how LL97 is influencing investment in sustainability, to assess where the policy is successfully aligning incentives with outcomes, and where challenges remain.
Panelists will share how LL97 has shaped investment decisions in existing buildings, including envelope improvements, mechanical upgrades, controls optimization, and electrification planning. The discussion will focus on how owners are prioritizing projects, sequencing retrofits, and weighing compliance requirements alongside operating savings, avoided penalties, tenant considerations, and capital constraints. Real examples will illustrate where the regulation has provided a clear business case for action and where decision making has been more complex.
The session will also address how LL97 and evolving BEPS frameworks are influencing new construction and major redevelopment projects. Panelists will discuss how future carbon limits are informing early design decisions, system selection, and long term performance planning, as well as how these considerations are being received by lenders, insurers, and tenants. Particular attention will be given to the tension between upfront investment, regulatory timelines, and long term asset value.
Finally, the panel will explore broader market implications, including impacts on asset valuation, financing assumptions, and due diligence practices.
Attendees will leave with a clear, experience based understanding of how BEPS policies like LL97 are promoting investment in building performance, how effectively they are influencing owner behavior, and what lessons can inform future policy design.
Panelists will share how LL97 has shaped investment decisions in existing buildings, including envelope improvements, mechanical upgrades, controls optimization, and electrification planning. The discussion will focus on how owners are prioritizing projects, sequencing retrofits, and weighing compliance requirements alongside operating savings, avoided penalties, tenant considerations, and capital constraints. Real examples will illustrate where the regulation has provided a clear business case for action and where decision making has been more complex.
The session will also address how LL97 and evolving BEPS frameworks are influencing new construction and major redevelopment projects. Panelists will discuss how future carbon limits are informing early design decisions, system selection, and long term performance planning, as well as how these considerations are being received by lenders, insurers, and tenants. Particular attention will be given to the tension between upfront investment, regulatory timelines, and long term asset value.
Finally, the panel will explore broader market implications, including impacts on asset valuation, financing assumptions, and due diligence practices.
Attendees will leave with a clear, experience based understanding of how BEPS policies like LL97 are promoting investment in building performance, how effectively they are influencing owner behavior, and what lessons can inform future policy design.
Learning Level
Basic
GBCI Rating System Specific Credit
Does Not Apply
Program
Track Session
Track
Policy & Frameworks
Learning Objective #1
1. Describe and explain how LL97 is influencing operational strategy, capital planning, and retrofit decision making across existing buildings.
Learning Objective #2
2. Analyze and compare how LL97 requirements are shaping design choices, system selection, and future proofing strategies for new construction projects.
Learning Objective #3
3. Discuss and differentiate portfolio level approaches for aligning decarbonization pathways across both existing assets and new developments under evolving BEPS frameworks.
Learning Objective #4
4. Assess and give examples of how green leasing supports transparency, data sharing, and owner tenant collaboration to achieve operational performance and long term LL97 compliance.
