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Murphy Accelerates New Jersey Climate Initiatives

The Bond Buyer

New Jersey Gov. Phil Murphy is ramping up the state’s climate change efforts through a new office and a plan to buy zero-emissions electric vehicles and equipment using environmental settlement funds.

[...]

Murphy two-step approach gets out in front of any federal help, according to Alan Rubin, a principal at Blank Rome LLP.

“The governor has decided that New Jersey in particular is getting really damaged by climate matters,” said Rubin, co-head of Blank Rome’s severe weather emergency recovery team. “You see excessive flooding in southern New Jersey, places like Bellmawr and Toms River, and storm-surge drainage issues.”

[...]

“She’s really smart,” Rubin said of Cohen. “She knows the inner workings of government very well. That will enable her to develop expansive ideas of what to do with the $100 million and focus on real projects.”

Efficient coordination is essential, Rubin added. “If they’re not careful, that could layer in additional problems, or bureaucracy.”

[...]

The Biden administration has just freed up $5 billion under the bill, separate from the latest $1.9 trillion federal rescue package under consideration. “That’s $5 billion to fund mitigation, for studies and capital projects,” Rubin said.

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"Murphy Accelerates New Jersey Climate Initiatives," by Paul Burton was published in The Bond Buyer on February 18, 2021.