NYC’s Green Economy Action Plan marks a year of success

If the past year has shown us anything, it’s that New York City — the world’s ninth-largest economy — is transforming climate urgency into economic opportunity. As senior vice president for the green economy at New York City Economic Development Corporation (NYCEDC), I’ve seen firsthand how just one year after launching the groundbreaking Green Economy Action Plan (GEAP), the city has seized the initiative in building tangible infrastructure, creating jobs and forging partnerships that are reshaping the urban landscape. With billions in potential economic activity, America’s largest city is creating a model for climate action that delivers economic benefits to all communities.

The Green Economy Action Plan: A strategic framework

In early 2024, Mayor Eric Adams and NYCEDC unveiled the Green Economy Action Plan (GEAP) — a first-of-its-kind roadmap containing 63 commitments designed to bolster economic growth, create jobs, encourage public-private partnerships and position New Yorkers from all backgrounds to benefit from the climate transition.

The plan’s ambition is substantial: to capture a significant share of the nearly 400,000 projected green-collar jobs in New York City by 2040, with special attention to ensuring residents from environmentally disadvantaged communities can access these opportunities. By 2040, that’s estimated to contribute $89 billion to the city’s gross metropolitan product.

And in just its first year of implementation, I’m proud to share that we’ve already made substantial headway on numerous GEAP commitments.

Cleaner construction, lower-carbon buildings

A critical step in bringing about the just green transition is decarbonizing the built environment and scaling the clean construction industry. This is particularly true in a city such as New York, where our iconic skyline of 1 million buildings is also responsible for nearly 70 percent of the city’s greenhouse gas emissions.

That’s why in March 2024, NYCEDC launched the Clean and Circular: Design and Construction Guidelines. The guidelines are written with the aim of reducing embodied carbon and waste within NYCEDC capital projects, developing knowledge and capacity across industry stakeholders, and driving demand for cleaner and more circular design and construction across NYC.

Similarly, in March we also selected seven design and development teams to participate in the NYC Mass Timber Studio, a first-of-its-kind program designed to support active mass timber development projects in the early phases of project planning and design. Mass timber is a natural, renewable and sustainable material with a lower carbon footprint than traditional building materials such as concrete and steel. The program is accepting applications for the second cohort.

Building tomorrow’s climate solutions today

Of course, building the green economy of the future is about more than decarbonization of existing spaces — it’s also about developing new solutions to combat the effects of climate change.

That’s why, in March 2024, NYCEDC released a $100 million request for proposals (RFP) to develop a world-class Climate Innovation Hub (CIH) at the Brooklyn Army Terminal (BAT) in Sunset Park. The CIH will anchor a growing ecosystem along New York Harbor for new climate technologists, entrepreneurs and talent working to develop, pilot and deploy new solutions to combat the effects of climate change. A hub for business development, incubation and research commercialization, CIH will serve over 150 startups over 10 years and offer workforce development opportunities for the local community.

Electrifying NYC’s transportation future

We’re also making great strides toward creating new electric vehicle (EV) charging infrastructure for heavy-duty vehicles. That’s why on Earth Day 2024, NYCEDC announced an RFP to develop multiple sites across New York City for shared medium-and-heavy-duty electric vehicle and fleet charging hubs. And we’ve already made great progress toward this goal, including welcoming charging startup Matcha to the Pilots at BAT program. Matcha’s emerging technology brings EV charging software and solutions to multifamily, office and parking garage properties across the city.

And however federal policy priorities may shift, we remain committed to collaborating with our private sector partners to develop the infrastructure needed to support EV fleets in NYC. 

Powering NYC’s grid revolution

We’re also leading the way in developing a clean and renewable energy system. In April, NYCEDC approved four battery energy storage sites in Queens and Staten Island — a critical piece of infrastructure that will strengthen the resilience and reliability of the New York City electricity grid as it transitions to a clean energy future. And we followed that up in May with the approval of the East River Energy Storage Project, capable of holding up to 100 megawatts and powering tens of thousands of households once completed.

Meanwhile, June saw the beginning of construction at the South Brooklyn Marine Terminal (SBMT) in Sunset Park, which will become one of the nation’s largest dedicated offshore wind ports. The project will include more than 1,000 union jobs in Brooklyn. It will accelerate the clean energy transition, making New York City synonymous with offshore wind, while creating procurement and additional indirect job opportunities.

Of course, the green transition also needs to be a just transition, one that drives robust and equitable growth for all New Yorkers. To ensure economic benefits reach local businesses, NYCEDC released an RFP in June seeking a consultant to operate We Source NYC—a comprehensive technical assistance and communications program supporting local small and medium-sized manufacturers, construction service providers and industrial equipment suppliers as we build a robust, diverse and local supply chain. In February, NYCEDC selected Southwest Brooklyn Industrial Development Corporation (SBIDC), in partnership with Business Outreach Center (BOC) Network, as the operator of We Source NYC.

We’re aware of the challenges facing the offshore wind sector, particularly with the new federal administration’s stated policy aims. Nonetheless, we remain committed to supporting the growth and success of the offshore wind industry in NYC. 

The path forward: Collaboration and commitment

The Green Economy Action Plan represents more than environmental policy — it’s an economic development strategy designed to position New York City at the forefront of the global green economy while addressing historical inequities. By creating pathways to quality jobs, supporting local businesses and investing in infrastructure that serves all communities, we’re demonstrating how climate action and economic opportunity can advance together.

For business leaders across sectors, New York City’s green economy transformation presents both inspiration and opportunity — a chance to participate in building a more sustainable, equitable and prosperous future for America’s largest city and beyond.

Learn more at edc.nyc.