Murphy Accelerates New Jersey Climate Initiatives
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.