In a significant step toward addressing climate change and resilience, California voters passed Proposition 4 – the Climate Bond — in November 2024. The initiative allocates $10 billion in general obligation bonds to finance a suite of programs and projects aimed at enhancing the state’s resilience against climate-related challenges. Key areas of investment will include safe drinking water, water infrastructure, wildfire prevention and forest health, clean energy, sustainable agriculture, safeguarding communities, and improving the resilience of critical watersheds and ecosystems to climate risks.

The California Natural Resources Agency (CNRA), along with its departments and sister Agencies, is already laying the groundwork for implementing programs funded by this bond. With initial appropriations anticipated in the state’s budget for 2025-26, CNRA is committed to establishing strategic and focused investments that help advance progress on California’s climate goals and targets, with prioritized support for projects that provide direct and meaningful benefits for communities that have been historically underserved or that face a disproportionate risk to the impacts of climate change.

To ensure effective delivery and coordination of Climate Bond-funded programs, partnerships with public agencies, nonprofit organizations, tribes, special districts, and other stakeholders are essential. CNRA recognizes that collaborative efforts are integral to protecting our communities, public health, economy, and natural resources for generations to come.

This past December, CNRA hosted two webinars briefings about the Climate Bond, which presented early thinking on its delivery. Following this, a survey was launched to identify the capacity and administrative needs of our partners. Open until April 18, 2025, this survey serves as a tool for informing our program development and ensuring that our work is designed to be effective and accessible. Interested individuals can participate in this survey at: California Climate Bond: Grant Programs Feedback.

We are committed to maintaining transparency and fostering collaboration in the implementation of these funds. Updates on the progress of the Climate Bond rollout will be shared as we move forward. Those interested can also sign up to our email list for the latest information at: Climate Bond Updates.

We are excited about the possibilities that will come from Climate Bond funding and look forward to working in partnership with all stakeholders to drive California’s climate resilience work forward. Together we can cultivate a resilient future that benefits all Californians.