$5.5 Billion Climate Resiliency Bond Act Passes Senate Governance and Finance Committee with Bipartisan Support
For Immediate Release: April 15, 2021
Contact: Lerna Shirinian, (818) 807-6091
$5.5 Billion Climate Resiliency Bond Act Passes Senate Governance and Finance Committee with Bipartisan Support
Sacramento, California – Senate Bill 45, a measure authored by Senator Anthony J. Portantino (D – La Cañada Flintridge) that provides critical investments to help California become more resilient to climate change, passed the Senate Governance and Finance Committee today with bipartisan support.
“We are already experiencing the impacts of a climate emergency - extended fire seasons, water shortages and increased drought, more severe flooding, and increased numbers of extreme heat days,” stated Senator Portantino. “It puts our residents and our infrastructure at risk and costs California billions of dollars every year. Investing in preventative measures early will not only protect lives and property but will save the state billions of dollars in avoided damage costs.”
Record-setting wildfires are being fueled by prolonged, climate-driven drought and increased temperatures. Severe drought coupled with some of the hottest years ever recorded means what precipitation does fall comes down as rain and rushes to the ocean instead of lingering as snowpack, leaving us with no way to adequately recharge our groundwater basins.
California is investing less than half of what is needed to properly address the growing flood risk from more intense weather events. The state currently has some $575 billion worth of buildings susceptible to flooding, and 20% of the state’s population already lives in flood-prone areas.
According to California’s 4th Climate Assessment prepared by the California Natural Resources Agency, the California Energy Commission, and the California Governor’s Office of Planning and Research, the cost of climate change for California alone could be more than $113 billion annually by 2050. The report determined that these costs will only compound if the state does not take action now to reduce the risk of climate change impacts such as more severe wildfires, prolonged drought, and deadly floods.
SB 45, the Wildfire, Safe Drinking Water, Drought Preparation, and Flood Protection Bond Act of 2022, proposes a general obligation bond to inject much-needed revenue to address these impacts. The measure funds efforts to reduce fire risk and restore areas that are already damaged, to restore and protect impacted wetlands, watersheds, and waterways, to reduce impacts on vulnerable populations and improve the resiliency of our water supplies and agricultural lands.
“Like Sonoma County, communities along California's coasts are facing unprecedented fire, flood and drought challenges and impacts,” stated Grant Davis, General Manager of Sonoma Water. “Senate Bill 45 is an investment in natural resource protection and emergency preparedness that will keep our forests and watersheds healthy and communities safe. As we know in Sonoma, these impacts are here and are getting worse every year. The sooner we make these investments, the better.“
“The Legislature has been aggressive in putting together an infrastructure of preparation for fires,” stated Pete Muñoa, General Vice President of CAL FIRE Local 2881. “However, at a time when 90% of the state is going to be in drought conditions, and climate change and growth demographics are contributing factors to the crisis, there is much more that needs to be done. Cal Fire Firefighters are proud to work in tandem with environmental partners in support of SB 45. We are appreciative that Senator Portantino is carrying the bill that will result in protecting property and saving lives.”
Senators Allen, Hurtado, Stern, Hertzberg, and Rubio are joint authors of SB 45. Co-authors include Senate President pro Tempore Toni G. Atkins and Senators Archuleta, Cortese, Dodd, Glazer, and Gonzalez.
Supporters of SB 45 include: Alliance of Nurses for Healthy Environments, Big Sur Land Trust, California Coastkeeper Alliance, California Invasive Plant Council, County of Marine, Eastern Sierra Land Trust, Friends of Desert Mountains, Surfrider Foundation, Mountains Recreation and Conservation Authority, the Nature Conservancy, Outdoor Alliance California, Peninsula Open Space Trust, Placer County Water Agency, Planning and Conservation League, Sacramento County, Safe Agriculture Safe Schools, Santa Clara Valley Open Space Authority, Smith River Alliance, Sonoma Water, Transition Habitat Conservancy, Trust for Public Land, Western Rivers Conservancy, Wholly H20, and Wildlands Conservancy.
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