Mayor Defends His Decision to Withdraw From Green Building Initiative

Mayor Bloomberg is defending his decision to withdraw a major climate change initiative that would have required landlords to make their buildings more energy efficient. The mayor says the costs and benefits of the law wouldn't have been spread fairly between landlords, and commercial and residential tenants.

BLOOMBERG: We are trying to find the ways to get over this hurdle but in the meantime we don't want anybody to do something to put their money in if they aren't going to be the beneficiary.

REPORTER: The city council is slated to vote this week on the energy efficiency bill, and other greenhouse gas-reduction measures, including mandatory energy audits for buildings.

Buildings account for 80 percent of the city's total carbon emissions.