Are New Greenhouse Gas Emission Standards Likely to Affect Commercial Real Estate Development Projects in This Region?
Few issues in the environmental context have received as much attention during the last few years as global warming and greenhouse gas emission control. Most people acknowledge that the clear weight of scientific evidence supports the conclusion that anthropogenic activities are contributing to a gradual increase in average atmospheric temperatures. At the same time, debate continues, at least at the national level, about the severity of impacts resulting from these temperature/climate variations and the best ways to address them.
In the absence of federal greenhouse gas emission controls, numerous states, notably including New Jersey and Pennsylvania, are proceeding with state-specific regulatory programs. These programs may have implications for commercial real estate development on several fronts.