Proposal 1: New York will vote to put money toward climate change mitigation efforts
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- New Yorkers voted yes on Proposal 1 to sell $4.2 billion in bonds to address climate change on Tuesday.
- Proponents say that the proposal will allow New Yorkers to prepare for climate change.
- Opponents are critical of the fact that the measure will put the state into more debt.
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New Yorkers authorized the state to sell $4.2 billion in bonds to fund climate change mitigation on Tuesday.
The measure, called Proposal 1, also known as the Clean Water, Clean Air, and Green Jobs Environmental Bond Act of 2022, passed with a resounding "yes" at the ballot.
Ballot measure details
Proposal 1 authorizes the New York state comptroller to sell bonds to help fund initiatives that "preserve, enhance, and restore New York's natural resources and reduce the impact of climate change."
Up to $1.5 billion would be set aside for climate change projects, such as green building projects, urban forestry efforts, and carbon and methane sequestration. This money would also go toward solving air pollution in disadvantaged communities.
Up to $1.1 billion would go to restoration and flood risk reduction, $650 million would go to open space land conservation and recreation, and $650 million would go towards water quality improvements and resilient infrastructure.
At least 35% of the funds would be allocated toward communities most affected by climate change.
Support and opposition
Vote Yes for Clean Water and Jobs was the committee created in support of this measure. Supporters include Democratic Gov. Kathy Hochul, The Nature Conservancy, and other environmental organizations.
Supporters argued that the measure would help support jobs in multiple environmental sectors, address environmental issues in disadvantaged communities, fix dated infrastructure, and help New Yorkers prepare for the coming impacts of climate change.
Opponents included the New York State Conservative Party, which argued that the bond measure is an unnecessary public debt that the state will take on in addition to its existing $160 billion of debt.
The money race
According to Ballotpedia, more than $4,2 million was poured into supporting this measure. The largest donors include the Nature Conservancy and Scenic Hudson Inc. No opposition committee has been identified.