1. Focus on the Economics of the crisis (both cost and potential reward)
1.1. Economics is one of the most powerful driver of action.
The economic toll of climate inaction is staggering—billions lost to disasters, damaged economies, and reduced productivity. Conversely, action creates jobs, lowers energy costs, and opens access to trillions in new markets. The choice is clear.
Global costs — The Intergovernmental Panel on Climate Change (IPCC) estimates that global economic losses from climate change could range from 1.6% to 3.2% of global GDP by 2100, depending on warming levels and adaptation efforts. Impacts include damaged infrastructure, reduced agricultural yields, and health crises. (Source: IPCC)
US Cost —Deloitte’s report, The Turning Point: A New Economic Climate in the United States, states that if global warming reaches approximately 3°C (5°F) by 2100, the U.S. economy could face $14.5 trillion in economic damages over the next 50 years. This scenario also predicts an average annual loss of 900,000 jobs due to climate-related impacts. (Source: Wall Street Journal)
Benefits — Action is costly but rewarding. The United Nations Environment Programme (UNEP) estimates $2.5 trillion per year is needed in low-carbon technologies and infrastructure to mitigate climate change. However, this investment promises significant economic benefits, including job creation, improved public health, and reduced fossil fuel dependency. (Source: UNEP)
| Sample Markets |
|---|
| Miami, Florida: Vulnerable to sea-level rise, Miami is already experiencing flooding and saltwater intrusion in low-lying areas. A study published in Nature Climate Change estimates that sea-level rise could threaten up to $3.5 trillion worth of real estate in Miami by 2070. (Source) |
| New Orleans, Louisiana: Facing threats from sea-level rise and storm surges, projections suggest economic losses of up to $23 billion by 2030 and as much as $133 billion by 2100. (Source) |
| Houston, Texas: Houston faces increased flooding and hurricanes. For example, Hurricane Harvey in 2017 caused an estimated $125 billion in damages, highlighting the city's vulnerability to climate-induced disasters. (Source) |
| Los Angeles, California: The city faces escalating threats from wildfires and droughts. Recent wildfires have resulted in economic losses estimated between $135 billion and $150 billion, with additional costs from health impacts and infrastructure damage. (Source) |
| New York City, New York: As a coastal metropolis, New York is at risk from sea-level rise and extreme weather events. Superstorm Sandy in 2012 caused approximately $19 billion in damages and lost economic activity. (Source) |
| London, United Kingdom: Extreme weather events, such as floods and droughts, could reduce London's GDP by 2-3% annually by mid-century. Protecting London from these threats is considered a matter of national security. (Source) |
The Cost of the Climate Crisis is Staggering
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The cost of climate inaction is staggering. Climate change could slash global GDP by 37% by 2100. Cities are already paying billions: $19B from Hurricane Sandy in NYC, $40B for Jakarta's Great Garuda flood prevention, $4B annually for Miami's defenses by 2050, and Cape Town’s $1B Day Zero water crisis. The price of inaction is too high.
Sourcde: UCL).
Addressing it unlocks immense potential
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In 2022, clean energy investment hit $1.1 trillion globally, matching fossil fuel spend for the first time (Time). The U.S. alone invested $141 billion in clean energy, a sharp rise from past years (Statista). By 2030, transitioning to carbon-zero solutions could unlock a $12.3 trillion economy (McKinsey). Companies leading in climate solutions will dominate markets, boost profits, and drive long-term growth while fostering resilient, livable cities.
MASSIVE OPPORTUNITY
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The $12.3T carbon-zero economy will dwarf NYC’s $2T economy. Carbon Zero City will help NYC capture this opportunity, turning addressing the climate crisis into an economic engine.
1.2. Next, Build the Cluster on Top of the Carbon Zero Economy
A Massive Opportunity — The Carbon Zero Economy is projected to reach $12.3 trillion by 2030, encompassing transformative industries like renewable energy, green construction, and sustainable finance. Carbon Zero City leverages these synergies to drive innovation, scale solutions, and position NYC as a global leader in climate action, creating jobs and boosting economic resilience.
A Broad Industry Spectrum — The Carbon Zero Economy spans sectors such as energy, transportation, urban design, waste management, and sustainable agriculture. These industries are not only pivotal for combating climate change but also highly compatible with NYC’s infrastructure, talent pool, and innovation ecosystem. This alignment unlocks opportunities for collaboration, investment, and local entrepreneurship.
Focusing on Growth Areas — Carbon Zero targets high-growth sectors with significant economic and environmental impact. By leveraging NYC’s expertise in finance, advertising, and technology, it creates a fertile environment for green startups, attracts global investors, and drives public-private partnerships. The initiative also taps into Wall Street's leadership in green bonds and ESG investments, aligning capital markets with sustainability goals.
1.3. Incorporate Carbon Zero Market Drivers, Which are Strong
#1 Existential Crisis for Cities — The Paris Accord set a vital target: limit global warming to 1.5°C above pre-industrial levels. Yet we’ve already hit 1.6°C and rising. This overshoot puts cities at the frontline of the crisis, facing extreme weather, rising seas, and ecosystem collapse. Without bold action, temperatures could climb to 3–4°C by 2100, triggering runaway climate change through ice melt, permafrost thaw, and ocean warming (IPCC).
#2 Global Problem, Global Opportunity — No city is safe from climate change. Coastal giants like New York, Jakarta, and Mumbai face flooding, while heatwaves cripple cities like Phoenix and Paris. Droughts threaten water supplies in Cape Town and Los Angeles, and rapid urbanization in developing markets magnifies these challenges. Yet, cities are also innovation hubs, capable of driving solutions that benefit the world.
#3 Inaction Costs More — Delaying action on climate change is economically devastating. By 2050, climate impacts could slash GDPs, damage infrastructure, and trigger health crises. The International Energy Agency (IEA) estimates that $4 trillion in annual clean energy investments are needed by 2030 to achieve net zero by 2050. In 2022, only $1.4 trillion—35% of the target—was invested. Source: IEA. Delays cost lives, money, and future opportunities. Learn more.
#4 Governments Are Failing — Despite decades of agreements like the Kyoto Protocol and the Paris Accord, emissions are still rising. The planet is on track for a 2.7°C–3°C increase by 2100—far above the 1.5°C goal. Weak political will and fragmented coordination leave cities vulnerable to worsening floods, heatwaves, and storms. The US pulling out of the Paris Accord is not a good sign. Only bold leadership and immediate action can prevent catastrophic outcomes. Source: UNEP Emissions Gap Report 2022.
#5 Urban Growth Amplifies Risks — The global population reached 8.2 billion in 2025, with 57.5%—about 4.7 billion people—living in urban areas in 2024. Source: Worldometers. Urbanization is surging, up from just 33.6% in 1960, and projected to reach 68% by 2050. Source: UN. This rapid growth strains infrastructure, increases emissions, and intensifies climate risks. Cities must embrace smart planning to turn challenges into opportunities.
Cities are on the frontlines of the climate crisis.
URBAN EXPLOSION
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Urban populations are skyrocketing, especially in developing regions. This surge amplifies climate challenges but fuels demand for innovative solutions, unlocking a massive market opportunity.
TOP 10 IN 2018
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In 2018, 56% of the world’s population—4.4 billion people—lived in cities. Mega-cities like Tokyo, Delhi, and Shanghai exceeded 20 million residents. Rapid urban growth in Africa and Asia brings challenges and opportunities for sustainable innovation. (Source: UN)
TOP 10 IN 2100
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By 2100, mega-cities in Africa and Asia could surpass 50 million residents, driving urban growth. These hubs face resource challenges but offer vast potential for sustainable development. Resilient planning will shape livable, green mega-cities. (Source: Ontario Tech)
2. Establish a Carbon Zero Industrial Cluster
An economic cluster is a geographic concentration of interconnected businesses, suppliers, service providers, and associated institutions (such as universities, research centers, and trade associations) that operate in a specific industry or sector — Clusters foster collaboration, competition, and innovation, creating synergies that drive economic growth and competitiveness. Key features of economic clusters: geographic proximity, industry focus, interconnectedness, innovation and competitiveness and economic spillovers (including regional growth).
The Carbon Zero Cluster builds on a proven urban economic model.
2.1. FiDi is the Best Location for a Carbon-Zero Economic Cluster
Maximum pushback of the crisis requires an international location (no IDCNY). NYC is a global financial hub, one of the world's most influential cities, and home to the UN, among many things. Within NYC, FiDi is home to Wall Street, has significant tourist support and is the most transit-accessible neighborhood in the US/Canada. Importantly, with close to 12MM square feet of vacant office space east of Broadway, FiDi has the space to host showrooms and exhibits.
ACCESSIBLE
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Arguably the most transit-accessible neighborhood in North America — 13 subway lines, 30 bus routes, 18 ferries, the Downtown Shuttle, and 35 CitiBike stations make FiDi seamlessly connected to NYC’s major hubs and airports. Unmatched accessibility.
AMPLE SPACE
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FiDi’s abundant vacant office space is perfect for Carbon Zero showrooms. Office space can transform into vibrant showrooms, dynamic exhibits, and event venues. Vacancy source: Cushman & Wakefield, Q3 2024.
KNOWN LOCATION
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FiDi is a global destination steeped in history — home to Wall Street, the NYSE, and the world’s largest gold reserves. Milestones include George Washington’s inauguration, the signing of the Bill of Rights, and Thomas Edison’s electrified lighting district on Pearl Street.
RESILIENCY MODEL
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FiDi is a model of resilience and future-ready innovation. The Lower Manhattan Coastal Resiliency Project is fortifying the area with advanced floodwalls, storm barriers, and durable infrastructure to protect against rising sea levels and extreme weather—a blueprint for urban adaptation.
OVERFLOW POTENTIAL
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FiDi’s strategic ferry connections enhance its capacity to host major events. Linking seamlessly to Liberty State Park, Governors Island (Climate Exchange), and key Brooklyn hubs like the Army Terminal, the ferry network ensures capacity even during high-demand events.
BLUE HIGHWAY
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FiDi is a pivotal part of NYC’s Blue Highway Initiative. Surrounded by water, it enables sustainable cargo deliveries by transitioning from trucks to small watercraft and quad vehicles on land, easing traffic congestion and reducing infrastructure wear (reducing upkeep costs). See hubs.
2.2. Anchor the Carbon Zero Cluster with a Trade Mart
2.3. Complement the Trade Mart with Trade Events
2.4. Expand and Deepen Market Reach with a Virtual Presence
The App will be an early action to create the cluster — By seamlessly connecting local businesses, events, and assets, it positions FiDi as a hub for tourism, commerce, and innovation. Advanced features reading QR codes, and personalized tech create tailored experiences for users, encouraging foot traffic and consumer engagement. Sponsors gain unparalleled opportunities for targeted, data-driven promotions, while immersive ads and exclusive content boost visibility and revenue. More on the app.
| Functions |
|---|
| Neighborhood Functions: Provides real-time updates on local businesses, events, transport, safety alerts, community forums, and a marketplace for goods and services. |
| Mart and Event Functions: Offers interactive maps, AR tours, event schedules, multilingual support, personalized itineraries, digital collectibles, vendor details, and transport info. |
The Metaverse: Elevating Trade Marts and Events — The metaverse enhances Carbon Zero City's trade marts and events by providing global, 24/7 access to products and experiences. Companies use AI, AR, and VR for real-time demos and climate simulations, enabling deeper engagement and unique product interactions. More on the metaverse.
2.5. The Cluster Will Be Organized by Industry
| Category |
|---|
| Transportation |
| Building |
| Power |
| Water |
| Consumer |
| Agriculture |
| Fuels |
| Hydrogen |
| Waste |
| Industrials |
| Carbon |
3/5. Robust Revenue Streams
Sponsorships offer significant value to both sponsors and the initiative — For sponsors, they elevate global brand presence, position the brand as a carbon-zero leader, and facilitate mass adoption. They secure recognition as innovation leaders, expand media visibility, open access to new markets, and enable scalable global product rollouts.
For the initiative, sponsorships secure essential capital for launch, provide ongoing financial support, and increase global visibility through partnerships — They reduce operational expenses via in-kind contributions, attract larger audiences, build long-term partnerships, and boost credibility, attracting further investment.
| Revenue Streams |
|---|
| Program Sponsorships — Build lasting partnerships with continuous support across initiatives while boosting brand visibility and engagement. Program sponsorships align brands with Carbon Zero City's mission, ensuring sustained impact and recognition. |
| Exhibit Sponsorships — Sponsor specific exhibits for precise and impactful engagement. This targeted approach offers a cost-effective alternative to broader event sponsorships, maximizing brand exposure and strategic alignment. |
| Naming Right Sponsorships — Gain exclusive naming rights for venues, events, or assets, offering unmatched long-term visibility and prestige. Options include naming exhibits, streets, or entire Urban Hubs within Carbon Zero City. |
| Event Sponsorships — Support individual events or a series, such as roundtables, competitions, and large-scale gatherings. These sponsorships are amplified by an online presence to maximize reach and engagement. |
| Event Admissions — Generate revenue through ticket sales for summits and trade shows. Tiered pricing, VIP packages, and early-bird discounts expand appeal, turning events into vibrant revenue streams and visibility boosters. |
| Event Content — Monetize event content such as white papers, keynote videos, and industry reports. This content can be bundled with sponsorships or sold post-event, providing ongoing value through digital platforms. |
| Contributions — Leverage strong community backing from NYC’s residents, business leaders, and climate advocates to secure direct financial support for Carbon Zero City’s initiatives. |
| Grants — Secure public and private grants focused on sustainability, urban innovation, and climate action to fund key initiatives within the Carbon Zero City framework. |
| Go Fund Me — Launch a Go Fund Me campaign to engage the public in supporting Carbon Zero City’s mission. This grassroots effort taps into community passion for climate action and urban revitalization. |
| The App — Generate revenue through ads, click-throughs, and OOH/DOOH integration. The app connects FiDi’s assets, events, and businesses, fostering seamless interactions and promoting climate-focused solutions. |
| DOOH Advertising — Out-of-Home (OOH) and Digital Out-of-Home (DOOH) advertising integrate QR codes for engagement. By 2026, Carbon Zero City aims to establish a carbon zero marketing district complemented by events. |
| Web and Metaverse — Unlock revenue with virtual event tickets, interactive booth rentals, and premium sponsorships. The metaverse bridges physical and virtual worlds, enabling immersive experiences, live demos, and sustained audience engagement. |
4/5. Use What Exists
FiDi has nearly 12M sq. ft. of vacant office space east of Broadway, including near Fulton Center — This represents a 30% vacancy rate. Carbon Zero City's strategy focuses on reusing vacant space for showrooms, offering a low-carbon alternative to new construction. Unlike ambitious projects like NEOM or Telosa, repurposing existing space is practical, scalable, and more sustainable for cities worldwide. For building owners, showroom conversion are a quicker, cost-effective solution compared to complex conversions like residential. Learn more about the venue strategy.
| TYPES OF ASSETS |
|---|
| Vacant Office Space |
| Existing Public Spaces |
| Under the FDR |
| Taxpayer Properties |
| Vacant Land |
| Alleyways |
| Large Facilities |
| Educational Facilities |
| Privately Owned Public Spaces (POPS) |
| Street Parking Sheds |
Ample Space
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FiDi’s 30%+ office vacancy offers the perfect opportunity for Carbon Zero showrooms. These spaces can transform into vibrant exhibits and event venues, positioning FiDi as a global carbon-zero cluster. Source: Cushman & Wakefield, Q3 2024.
Carbon Zero’s Modest Space Needs
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FiDi east of Broadway has 12MM sq. ft. vacant, but Carbon Zero projects need just 1MM sq. ft. This oversupply offers flexibility to establish showrooms and other uses, revitalizing underutilized spaces.
Comparable Demands for Space
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While vacancies pose challenges, they create opportunities for innovation. (Source: Cushman & Wakefield, Q1 2024). Carbon Zero projects need 2MM sq. ft., with flexibility to repurpose long-term vacant spaces into showrooms—cheaper than residential conversion.
2.5. Look to Partner with all of NYC and Tri-State Cities
5/5. Use Carbon Zero City to Improve Other Assets in the Public Realm
Note that these are not prerequisites for the overall initiative.
Urban Hubs: Backbone of Resilient City Operations — Carbon Zero City achieves its greatest impact through urban hubs and selective pedestrianization. These hubs optimize logistics, transit, waste, and sanitation, boosting sustainability and infrastructure. NYC’s Department of Transportation is rolling out cargo hubs, setting the stage for robust networks to support events like a micro urban world’s fair. Learn more.
| Micro Cargo — NYC's 3.6M daily deliveries, 90% by truck, worsen congestion and air quality. Urban Hubs with quad vehicles streamline logistics and cut emissions. |
| Micro Transit — CitiBike price hikes and subway disruptions strain transit reliability. Urban Hubs enhance surface transit options, increasing resilience and capacity. |
| Garbage: NYC’s Weak Spot — Limited alleys lead to poor waste management and harm NYC’s image. Urban Hubs bring advanced recycling systems, improving sanitation and appeal. |
| Public Toilets — Accessible restrooms boost tourism and quality of life. Carbon Zero City supports Borough President Levine’s vision for a cleaner, more welcoming NYC. |
Pedestrianizing FiDi: Boosting Real Estate and Economic Growth — With high office vacancies, pedestrianization is key to revitalizing FiDi. Inspired by the Make Way for Lower Manhattan plan, Carbon Zero City supports selective pedestrianization of streets like Stone Street and Doyers Street in Chinatown, with pilots on Dutch Street, Liberty Place, and Cedar Street. Pedestrian-friendly streets increase foot traffic, driving retail sales, attracting premium leases, and raising property values. Cleaner, greener streets also fuel tourism, creating jobs and generating tax revenue. Realizing this vision requires traffic studies, stakeholder collaboration, zoning updates, and the addition of bollards and wayfinding systems. Limited delivery and emergency access will ensure safety and functionality.
Start with Alleyways
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Initial candidates include Dutch Street, Liberty Place and east Cedar Street.
Pedestrianizations
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Cities worldwide have seen remarkable success with partial pedestrianization. Examples like Barcelona’s superblocks, New York’s Times Square, and London’s Oxford Street show how reducing car traffic boosts foot traffic, revitalizes local businesses, and improves air quality. These transformations enhance urban livability and economic vitality while setting global benchmarks for sustainable city planning.
| Cities Benefiting from Pedestrianization |
|---|
| Barcelona, Spain — Superblocks have reduced traffic, improved air quality, and revitalized local businesses. |
| London, UK — Oxford Street’s partial pedestrianization increased retail sales and foot traffic. |
| New York City, USA — Times Square’s pedestrian plazas boosted tourism and retail revenues. |
| Melbourne, Australia — Pedestrianized laneways fostered vibrant cafes and a thriving nightlife economy. |
| Paris, France — Car-free zones along the Seine enhanced tourism and improved public spaces. |
| Copenhagen, Denmark — Strøget, one of the world’s longest pedestrian streets, boosted retail and tourism. |
| Seoul, South Korea — The Cheonggyecheon Stream restoration increased tourism and property values. |
Roadmap
FIDI
ECONOMICS
INDUSTRIES
FOCUS ON CITIES
USE WHAT EXISTS
CARBON ZERO CLUSTER
TRADE MART
TRADE SHOWS
VIRTUAL TRADE MART
DEVELOPMENT FRAMEWORK
PUBLIC PRIVATE PARTNERSHIPS
REVENUE STREAMS
Roadmap
Vacant Office
Vacant Retail
Vacant Land
Alley-ways
Educational Facilities
Public Spaces
Under the FDR
POPS
Major Facilities
Taxpayers
Sheds
MORE INFO
