Growing Returns

EDF Celebrates the Passing of the NY Bond Act.

In the climate policy world, states and localities are often laboratories of innovation and progress. However, with the devastating impacts of hurricanes, wildfires and heat waves, residents are already experiencing the costly impacts of climate change. To mitigate these costs, EDF supports innovative funding and financing strategies — especially in areas that are most vulnerable to climate impacts. One example of this is EDF’s work on a ballot measure in New York State.

This week, voters passed the historic Clean Water, Clean Air and Green Jobs Environmental Bond Act ballot measure. This comes on the heels of the 10th anniversary of Hurricane Sandy, ushering in a variety of new flood resilience projects aimed at mitigating these risks to communities.

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Environmental bond gives New York a once-in-a-generation opportunity to fund a more climate resilient future.

New York Coast

Earlier this month, New York Gov. Kathy Hochul and the state legislature successfully included a $4.2 billion Bond Act ballot measure in the final state budget agreement. This is a historic step toward building a climate-resilient New York. If passed by voters in November, the Clean Water, Clean Air, and Green Jobs Bond Act will leverage the federal Infrastructure Investment & Jobs Act and enable historic investments in New York’s environment through an array of solutions that include flood risk reduction, open-space land conservation, climate change mitigation, clean energy projects, environmental justice and water quality improvements.

Here is how the Bond Act puts New York on a path to lasting resilience while also stimulating the economy, creating jobs and benefiting the state’s most vulnerable communities.

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3 ways New York and New Jersey can address flooding in the aftermath of Hurricane Ida

Hurricane Ida made landfall in Louisiana, bringing a path of destruction to many of the state’s coastal communities.

As the storm moved northeast, Ida brought record rainfall, to many states, including New York and New Jersey where devastating floods caused loss of life and millions in damages. The region has not experienced a storm on this scale since Superstorm Sandy in 2012.

And climate change is increasing flood risk with rainfall.

According to the Fourth National Climate Assessment, the heaviest rains in the Northeast already produce 55% more rain compared to the 1950s and could increase another 40% by 2100.

As the region begins recovery efforts, here are three actions that New York and New Jersey leaders can take to reduce climate-fueled flood risk.

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