Press Release

01.05.2022

TK Elevator modernizing elevators to meet New York City’s Local Law 97 requiring carbon emission reductions in buildings

• Approximately 50,000 commercial and residential buildings in New York City are now required to obtain the Building Energy Efficiency Rating by 2024 or face penalties.
• Energy retrofits from TK Elevator can save up to 70 percent of an elevator’s usage and help building owners meet the stringent carbon-emission reduction mandates of Local Law 97.
• TK Elevator is an industry leader in sustainability, committing to carbon reduction goals of 25 percent by 2030, 50 percent by 2040 and net-zero carbon by 2050.

New York City (January 5, 2022) – TK Elevator is helping buildings owners and property managers in New York City reduce carbon emissions and meet Local Law 97, which was enacted in 2019 requiring buildings to significantly reduce their carbon emissions. Buildings account for two-thirds of the annual carbon emissions in New York City, and Local Law 97 is part of New York City’s commitment to reduce greenhouse gas emissions by 80 percent by 2050.

Building owners will be required to obtain Building Energy Efficiency Rating label and display these labels at public entrances. The labels will include the Energy Star Score with corresponding grade. Local Law 97 sets emissions intensity limits for 10 building categories based on building code occupancy groups.

Buildings larger than 25,000 square feet must be in compliance by 2024 or face stiff penalties.

“As part of our commitment to reduce carbon emissions in buildings and improve energy efficiency, we are working closely with our partners in New York City and throughout North America to ensure their properties are the safest and healthiest they can be as we work to create a more sustainable future together,” said Kevin Lavallee, President and CEO of TK Elevator North America.

Older elevators can account for 10 percent of a building’s power usage, but an energy retrofit can save up to 70 percent of an elevator’s power usage. TK Elevator’s modernization includes adding regenerative drive technology, which captures energy generated when braking the elevator and feeds it back into the building, as well as LED bulbs with automatic shutoff that can reduce energy use in the cab by 90 percent.

“Local Law 97 is a great step in addressing the carbon emissions issues surrounding commercial buildings in New York City,” added Monica Miller Brown, Senior Sustainability Manager at TK Elevator. “Fortunately, we are perfectly positioned given our extensive expertise in carbon friendly elevator systems to help building owners and property managers be in compliance through a simple and cost-effective modernization process.”

Creating a Healthier Future

TK Elevator’s commitment to creating healthier elevator systems extends beyond energy retrofits to manufacturing. TK Elevator has published four Environmental Product Declarations (EPDs) – the most in the industry. An EPD is an assessment of the environmental impacts of a product over its life cycle that is verified by an independent third party. TK Elevator was also the first elevator company to publicly disclose the environmental impacts of its elevators in accordance with the Product Category Rules of the International EPD system and is the only elevator company with Declare labels on its elevators. Declare is a transparency platform and nutrition label created by the International Living Future Institute that shares where a product comes from, what it’s made of and where it goes at the end of its life.

In recognition of its environmental efforts, TK Elevator last month received an ‘A’ rating once again from non-profit Carbon Disclosure Project (CDP) for its climate-change initiatives, and also recently received the best rating in the ‘Machinery’ category from Sustainalytics, a global firm specializing in environmental, social and governance (ESG).

To learn more about how TK Elevator can help building owners reduce their carbon footprint, go to https://www.tkelevator.com/us-en/modernization/overview/.