New York City Mayor Eric Adams announced the creation of the GreenHOUSE Fund, aimed at assisting building owners in complying with Local Law 97, which sets emissions limits for large buildings. 

The fund will use proceeds from offset purchases to finance decarbonisation projects in affordable housing, particularly benefiting rent-regulated apartments and low-income co-ops. 

This initiative addresses the high asthma rates in disadvantaged communities and aims to achieve broader emissions reduction goals. 

The city also seeks to pass the J-51 tax incentive programme to support compliance costs, enhancing the affordability and sustainability of housing while improving air quality and creating jobs.