Buro Happold supports Green Economy Action Plan with New York City EDC and Mayor’s Office

Buro Happold is honored to support the New York City Economic Development Corporation and Mayor’s Office in the launch of the Green Economy Action Plan.

A first-of-its-kind initiative announced by officials of those agencies today, to advance the City’s “vision for an economic future that puts human well-being at the forefront” by:

• Decarbonizing New York City’s economy to address the existential risk of climate change.
• Diversifying the city’s economic base and driving job creation in clean-energy industries to create new opportunities for New Yorkers.
• Supporting the city’s communities that have historically been the most vulnerable to climate and environmental risk.

As part of this support, Buro Happold has produced an in-depth study commissioned by NYC Economic Development Corporation (NYCEDC) and the Mayor’s Office of Talent and Workforce Development (NYC Talent).

The analysis and strategic recommendations in the 60-page report, “The NYC Green Economy Action Plan,” were made available on Wednesday, February 28, 2024 as part of the city’s launch which outlines a blueprint for decades of infrastructure investment and industry growth in the five boroughs. The Action Plan builds on momentum created with the 2023 PlaNYC: Getting Sustainability Done, which included an official commitment to create a “comprehensive green economy industry action plan” that defines and lays out the economic opportunities stemming from the City’s climate and sustainability efforts.

Jointly developed by the NYCEDC and NYC Talent, the Green Economy Action Plan is the first initiative to clearly define, quantify and lay out strategies to grow climate industries in New York City. The plan is driven by quantitative industry analysis as well as input collected by Buro Happold from more than 100 stakeholders and partners including businesses, unions, workforce organizations, advocates and government agencies comprising eight industry sectors and 21 focus occupations critical to sustainable growth.

About the Green Economy Action Plan

The Green Economy Action Plan comes at a crucial moment, when global climate action is driving structural shifts in economic sectors worldwide, leading to a once-in-a-generation opportunity for major cities to be at the forefront of the green transition. Leveraging public and private investments alongside local innovation, New York City is committed to seizing this moment to “accelerate the green transition while creating good jobs that leave no New Yorker behind.” The Green Economy Action Plan lays out the strategic approach to achieve this.

“As this extensive action plan shows, New York City’s green economy is expected to host approximately 400,000 jobs by 2040, becoming the anchor of a prosperous, equitable, and just future for New Yorkers,” says Adam Friedberg, a partner with Buro Happold who leads the leads its Cities Team in North America. “This requires investment, innovation, and support of a diverse base of businesses and skilled workers to power this growth.”

To make it happen, says Friedberg, New York City leaders have publicly committed today to 63 actions through 2030 that will support the equitable growth of the green economy and help the city take advantage of the unprecedented State and federal funding available for green initiatives. These actions will be implemented with the mission to advance five key goals identified in the Green Economy Action Plan:

• Decarbonizing buildings and construction.
• Developing a renewable energy system.
• Enabling low-carbon alternatives in the transportation sector.
• Catalyzing innovations in climate technologies.
• Building an equitable green economy ecosystem.

In addition to documenting those commitments, The Green Economy Action Plan defines the green economy, forecasts new jobs and economic impact, showcases current employers and training pathways, and assesses the key drivers of growth in the city’s green economy, according Buro Happold Cities Team’s David Bigio, Shivam Jumani, and Alice Shay, who led the delivery of the report.

“Our city didn’t recover the nearly 1 million jobs we lost during the pandemic and reach a new private-sector job high by looking backward — we did it by building an economy of the future. And we must draw on all our resources to protect our city from the effects of climate change,” said New York City Mayor Eric Adams. “From building resiliency projects and retrofitting apartment buildings, to installing solar panels, EV charging stations, and wind turbines, ‘green-collar’ jobs are already in demand and leading the way.”

“Our Green Economy Action Plan will harness the growth of a new kind of industrial revolution and give New Yorkers the tools they need to build a resilient and prosperous city and thrive in our future-focused economy”

Mayor Adams

Chock full of industry references, expert sources, and case studies — and backed up by varied analysis techniques that quantify the full extent of NYC’s green economy opportunities — the new report by Buro Happold is a valuable resource to the climate and innovation industries locally and across the country – and citizens at large that are engaged in issues of sustainability.