
GREEN ECONOMY ACTION PLAN
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41.Deveop an effecive reguaory process o pro-
moe cimae innovaion
NYCEDC wi parner wih he Fire Deparmen of he
Ciy of NY (FDNY) and DOB o deveop an effecive
reguaory process—incuding sreamining and
coordinaing agency reviews—o promoe cimae
innovaion and navigae a pah forward o mee he
Ciy’s carbon reducion goas. To suppor he Ciy’s
PowerUp commimen o reduce baery sorage per-
miing imeines by 50 percen, FDNY wi advise on he
nex ieraion of NYCEDC’s Resiien Energy Sudio, a
program ha pios cuing-edge energy sorage ech-
noogies in NYC. To suppor he Ciy’s goa o reduce
embodied carbon in consrucion for Ciy projecs 50
percen by 2033 and ransiion from concree and
see o more susainabe buiding maeria aerna-
ives, DOB and FDNY wi work wih he NYC Mass
Timber Sudio o expore he poenia of mass imber
projecs in NYC. DOB is aso parnering wih he Trus
for overnors Isand o unock he poenia of mass
imber a he New York Cimae Exchange, which wi
be a 400k-square-foo campus dedicaed o research,
educaion, and pubic programs addressing he ci-
mae crisis beginning consrucion in 2025.
42. Launch reenigh Innovaion Fund
NYCEDC aunched a $50 miion+ Ciy capia RFP o
suppor nonprofis and nonprofi join venures ha
focus on ransaing innovaion o commerciaizaion
wih a focus on opporuniies wihin he green econ-
omy, as we as in ife sciences and oher advanced
echnoogies. The fund suppors he creaion of space,
pacemen of speciaized equipmen, deveopmen of
aen, and caayzaion of indusry ecosysems and
prioriizes suppor for diverse enrepreneurs and
minoriy-owned businesses.
43. Updae oudaed and use rues wih
Ciy of Yes for carbon neuraiy
Adoped in December 2023, he Ciy of Yes for Carbon
Neuraiy updaes oudaed reguaions creaing bar-
riers for cimae acion across green energy, buidings,
ransporaion, waer, and wase sysems. The zoning
ex amendmen incudes 17 poicies ha wi open up
over 8,500 acres of parking os across he ciy for
poenia use of soar panes, faciiae he rerofiing
of over 50,000 buidings, enabe EV charging in more
han 400 miion addiiona square fee and hep diver
34 percen of he Ciy’s residenia wase o beneficia
use, among oher hings.
commerciaizaion pahways for cimae ech sarups
and incumben businesses, especiay hose deveop-
ing hardware souions, whie caayzing he ransfor-
maion and enaning of an addiiona space coming
onine a BAT. The RFP wi seek an operaor o deveop
and operae he Hub. The operaor wi work wih en-
ans o buid and rapidy prooype producs, using he
fi-for-purpose space o provide business suppor and
carry ou produc research and deveopmen. They wi
aso provide workforce programming, especiay for he
oca Sunse Park communiy, o upski peope hrough
green job raining and opporuniies. The Hub wi aso
suppor pioing cimae echnoogies buiding on he
receny aunched “Pios a BAT” program—an effor
commied o demonsrae cimae echnoogies and
souions a his hisoric indusria sie.
Aogeher, NYCEDC’s $100 miion invesmen wi
caayze cimae innovaion ha wi creae over 600
permanen jobs and $2.6 biion in economic impac.
39. Compee he 400k-SF New York Cimae
Exchange on overnors Isand
In Apri 2023, foowing a wo-year compeiive pro-
cess, Mayor Eric Adams and he Trus for overnors
Isand announced ha he New York Cimae Exchange
wi serve as he anchor educaiona and research
insiuion of he Cener for Cimae Souions. Led
by Sony Brook Uni ver si y, he New York Ci mae
Exchangecon sor ium incudes 15 members represen-
ing eading universiies from around he word, as we
as business and nonprofi organizaions dedicaed
o deveoping and depoying souions o he goba
cimae crisis. The Exchange wi be a goba hub ha
everages educaion, research, and programming o
funcion as an open, iving aboraory for cimae sou-
ions and suppor communiies in he bae agains
cimae change. Phase 1 of he projec, which incudes
400,000 square fee of sae-of-he-ar faciiies, wi
open in 2028.
ENCOUAE COMMECIALIZATION
OF EEN TECHNOLOY
40. Caayze susainabiiy-focused bio-
echnoogy and maerias innovaion
As ouined in PaNYC, NYCEDC wi coninue o
advance a Maerias Innovaion Hub o drive bioma-
eria innovaion for NYC’s key indusries, incuding
consrucion, fashion, and medicine, and advance he
Ciy’s carbon neura goas.