Proposition 4: California Approves $10 Billion Climate Bond

Californians overwhelmingly supported Proposition 4, a $10 billion climate bond to help the state prepare and adapt for the impacts of climate change. With more than half the votes counted, nearly 58% of votes favored the bond compared to about 44% against the measure. The Associated Press called the race Wednesday morning.

Proponents of the environmental bond, including Gov. Gavin Newsom, argued over the course of the campaign that it could prevent billions of dollars in damages from extreme storms, wildfires, drought, and rising sea levels.

Environmental groups who pushed for the bond celebrated after lobbying for the bond for nearly two years.

“With so much at stake, we’re eager to see a positive result that enables California to lead on climate action and secure a greener, more equitable future for our communities,” said Mike Young, senior political and organizing director with California Environmental Voters.

“Here in the Bay Area, Prop 4 funding will accelerate shoreline wetland restoration to buffer cities from rising tides and improve the Bay’s health,” said Joshua Quigley, policy manager with Save the Bay. “Yesterday’s election changes the national political landscape but doesn’t alter the increasing impacts of climate change and the urgency of addressing it.”

The bond is designed “to respond to challenges wrought by climate change by investing in natural and built infrastructure,” according to an overview. It also includes some funding for programs cut from the state’s budget. At least 40% of the bond must help vulnerable and disadvantaged communities.

“Our communities deserve to have access to safe and clean drinking water, must be protected during extreme heat, and have the necessary resources to make their communities more wildfire safe,” state Sen. Monique Limón (D-Santa Barbara) said.

The path to forging the climate bond included massive obstacles: Lawmakers originally wanted a larger $15 billion bond, but they had to contend with a $46.8 billion state deficit, and Gov. Newsom slashing billions of dollars from climate programs in the state budget, competing ideas and a shrinking bonding capacity.

More than 170 nature and environmental justice-oriented groups pressed lawmakers and Newsom to ensure the climate bond was at least $10 billion to address priority areas, including extreme heat, wildfires and sea level rise.

Lawmakers ultimately crafted a measure that funds work in eight key areas: water, wildfires, coastal resilience, nature-based solutions, clean air, outdoor access, extreme heat and climate-smart working lands. The bond also sets aside $475 million for offshore wind.

“It prioritizes and enables robust, decisive action to advance our climate goals and enhance community resilience against climate impacts,” said state Senate Majority Leader Lena Gonzalez (D-Long Beach).

Supporters — mostly climate and environmental groups — paid nearly $9 million into a campaign in support. Opponents spent nothing.

State Sen. GOP Leader Brian Jones told KQED that, in the long run, the proposition would cost taxpayers too much money.

“Many of the items that are being proposed to be paid for in this bond do not rise to the level of being a long-term infrastructure project,” he said. “In my opinion, Proposition 4 pays long-term for short-term projects.”