New York voters approved a $4.2 billion environmental bond on Tuesday meant to provide funding for mitigating climate change and for improving resilience to extreme weather events.
The ballot measure, the Clean Water, Clean Air, and Green Jobs Environmental Bond Act, had been widely expected to pass. As of Wednesday morning, it had been approved by 59% of voters, according to data from the New York State Board of Elections.It was the largest borrowing referendum on ballots in this year’s midterm elections and is among the biggest injections in funding for environmental, social, and governance in the U.S. to date.
It includes $1.5 billion in funds for climate change mitigation, $1.1 billion to fund restoration projects and help reduce flood risk, and $650 million for water quality improvement and infrastructure. The last time New York had an environmental bond on ballots was 1996 when voters also approved a $1.75 billion package under then-Gov. George Pataki.
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