Proposed $10 Billion Bond measure would support climate resiliency and wetlands restoration as well as electrification and grid infrastructure modernization
SAN JOSE, CA (July 1, 2024) – Ahmad Thomas, CEO of the Silicon Valley Leadership Group (SVLG), today urged the members of the California Legislature to pass the proposed climate bond measure so that it can be considered by California voters during the November election.
The proposed measure (SB 867 – Allen), which was unveiled by lawmakers over the weekend, would invest $850 million in clean air funding, $325 million of this would go towards electrical transmission infrastructure, which will help California electrify its transportation and building sectors. It would also include $1.2 billion in coastal resilience funding, a proportion of which would support wetlands restoration and protect against sea level rise in the San Francisco Bay.
“The proposed $10 billion climate bond presents an exciting opportunity for a new wave of high impact investments in California’s climate resilient and clean energy future – all of which will sustain California’s undisputed leadership as the global epicenter of innovation. Importantly, the bond measure includes high ROI priorities such as funding for transmission projects and coastal resilience from sea level rise in the San Francisco Bay Area,” said SVLG CEO Ahmad Thomas. “As the leading business association representing Silicon Valley’s innovation ecosystem and a longtime climate advocate, SVLG encourages the legislature to pass this bond and put these fiscally sound investments before voters in November to strengthen our clean energy future.”
If passed by the Legislature later this week, the bond would appear on the Nov. 5 ballot.
About the Silicon Valley Leadership Group:
The Silicon Valley Leadership Group (SVLG) is the leading business association representing the innovation economy and its ecosystem. Founded by David Packard of Hewlett-Packard, SVLG has worked for 45 years to address issues that affect the region’s economic health and quality of life. Today, SVLG Is focused on accelerating the next era of Silicon Valley leadership, activated by our three new Centers of Expertise (COE). Innovation & Technology, Sustainable Growth, and Inclusion & Belonging. SVLG members collectively provide nearly one of every three private sector jobs in Silicon Valley and contribute more than $3 trillion to the worldwide economy. For more information, visit svlg.org.
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