California Voters Approve $10 Billion Dollar Bond for Climate Resilience
On November 5, California voters approved Proposition 4, a $10 billion dollar bond to fund natural resource protection and climate resilience projects. Bond allocations include:
- $3.8 billion for state agencies and localized projects to ensure all communities have access to safe drinking water, flood and drought resilience, and water conservation;
- $1.5 billion for the California Natural Resource Agency and Office for Emergency Services for wildfire prevention and forest management;
- $1.2 billion for coastal resilience efforts to reduce risks from sea level rise;
- $450 million for combatting extreme heat and providing cooling and community resilience centers;
- $1.2 billion for protecting California wildlife and biodiversity;
- $700 million for creating new parks and outdoor access programs; and
- $850 million for renewable energy and clean air programs.
The bond specifies that 40% of the funds must be used to support and benefit disadvantaged communities and vulnerable populations, defined in the bill as a community with a median household income below 80% of the statewide median. Funds will be made available through state grants or existing local projects to address climate-change related issues. For example, at least $85 million dollars will be made available to the San Francisco Bay Conservancy Program for projects that address sea level rise, flood management, and wetland restoration which may include the South Bay Salt Pond Restoration Project, partially located in Hayward.
The measure takes effect immediately as an urgency statute due to the high potential risk that climate disasters pose to our communities, infrastructure, and economy. The bill states that without intervention, the annual cost of climate change to California will reach $113 million dollars by 2050. According to the Federal Emergency Management Agency, every $1 spent to fight climate change saves $6 in disaster relief. This means Proposition 4 could help avoid $60 billion in disaster relief expenses. Funding from this bill will help prepare California communities to be resilient in the face of climate change and secure access to safe and clean resources.
