2023 U.S. Real Estate Round-Up: Effects of State ESG Laws on Commercial and Residential Building Owners

This 2023 U.S. Real Estate Round-Up provides key insights to commercial and residential building owners facing a flock of new state environmental, social, and governance ("ESG") laws proposed or taken effect in 2023, including how to prepare for upcoming compliance periods. In particular, this White Paper highlights the increasingly stringent sustainability mandates in Maryland, California, and New York City, outlining the scope, requirements, and potential impact on building owners in these jurisdictions. First, we detail Maryland's proposed Building Energy Performance Standards ("BEPS") and its implications for emissions benchmarking and reporting requirements.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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