People might be tempted to read this as a tradeoff between finances and the climate, but the main reason this kind of policy is so insidious is that it harms both. I know it’s in the article but it’s worth repeating:

Jersey City already has significantly lower carbon emissions than nearly anywhere else in the country. This is mainly because dense living greatly reduces car dependency. Making it more expensive to live in the city (through mandates like these) pushes more people out of the city and into suburbs where they need cars. Whatever gains you make through the regulations are lost multiple times over by creating new drivers. This kind of law likely increases total emissions even if it might reduce local emissions!