ALBANY, N.Y. (NEWS10)- The Restore Mother Nature Bond Act, included in the 2021 New York state budget, creates a $3 billion fund to help the state address environmental changes associated with climate change.
The bond will ensure New York is adapting to the effects of climate change. It will also create jobs and develop local economies. The state’s finances and economic outlook will be assessed by the budget director later in 2020 to determine whether the state will move forward with the bond.
Projects to be addressed by bond
- Reduce flood risk
- Investing in resilient infrastructure
- Restore freshwater and tidal wetlands
- Preserve open space
- Conserve forest areas
- Reduce pollution from agricultural and storm water runoff
- Fund up to $700 million in projects to fight climate change, including green buildings
- 35 percent of the funds will be spent on projects to benefit under served areas of the state