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"The initiative also expands buildings’ rooftop and yard allowances to accommodate the increased need for outdoor electrified equipment such as heat pumps. It changes other rules to ensure a wide range of exterior retrofits and updates 'Zone Green' floor area exemptions to ensure a better-than-code performance. It updates the framework for accessory mechanical equipment, like HVAC units and fire protection systems, to reflect the needs of electric retrofits and other energy infrastructure, by enabling equipment to cover up to 50% of buildings to a height of 15 feet, the proposal says."

"There is no question that these proposed reforms are a major departure from the status quo, but they are reasonable, not radical. They would foster good governance and economic progress in the industry. As COP28 representatives discuss how to reduce carbon while raising global living standards, nuclear energy should be on the front burner."

"'We were looking for a private-sector approach that wasn’t dependent on policy, it wasn’t dependent on traditional taxes, regulation or philanthropy to price in these assets and give investors the opportunity to invest directly in nature, whether that’s for climate or biodiversity,' said IEG Chair Douglas Eger."