{"id":86594,"date":"2024-09-26T04:55:00","date_gmt":"2024-09-26T08:55:00","guid":{"rendered":"https:\/\/insideclimatenews.org\/?p=86594"},"modified":"2024-09-26T07:08:21","modified_gmt":"2024-09-26T11:08:21","slug":"new-york-city-billions-in-state-green-bonds","status":"publish","type":"post","link":"https:\/\/insideclimatenews.org\/news\/26092024\/new-york-city-billions-in-state-green-bonds\/","title":{"rendered":"How New York City Has Lost Out on $4.2 Billion in State Green Bonds"},"content":{"rendered":"\n

Want more reporting from THE CITY? Sign up for Scoop<\/a>, their free weekday newsletter, to have their latest news delivered right to your inbox.<\/em><\/p>\n\n\n\n

Expecting to see green, New York City officials are seeing red instead.<\/p>\n\n\n\n

Approved by voters statewide in 2022, the Clean Water, Clean Air and Green Jobs Environmental Bond Act allows the state to borrow $4.2 billion to pay for big projects<\/a>, such as stormwater and wastewater systems, green buildings, coastal protections and electric school buses.<\/p>\n\n\n\n

More than $313 million has already gone from the state Department of Environmental Conservation and other state-controlled agencies to local governments. But while New York City is home to over 40 percent of the state\u2019s population, just $6 million of the Environmental Bond Act money so far has gone to the five boroughs\u2014under 2 percent.<\/p>\n\n\n\n

In the city, destructive and deadly storms like Hurricanes Ida and Sandy have highlighted an urgent need for investments that green bonds could fund. And not surprisingly, local voters supported the Bond Act<\/a> more enthusiastically than anyone else in the state, with 89 percent of Manhattan, 88 percent of the Bronx, 82 percent of Brooklyn and 78 percent of Queens voters approving.<\/p>\n\n\n\n

<\/div>\n\n\n\n