New York State’s Environmental Bond Act: 2024–2025 Progress

Back in 2022, New York passed the Clean Water, Clean Air, and Green Jobs Environmental Bond Act (EBA). This act authorized $4.2 billion in funding for environmental improvement projects throughout the state of New York. The funding is allocated toward eligible environmental projects across four key categories:

1. Restoration and Flood Risk Reduction
2. Open Space Land Conservation and Recreation
3. Climate Change Mitigation
4. Water Quality Improvement and Resilient Infrastructure

Recently, New York State released the annual report for fiscal year 2024–2025 (April 1, 2024 to March 31, 2025) for this act. According to this annual report, funding is now being distributed across the state. The annual report has provided information about how the EBA funds are being allocated and the types of work that are ongoing.

Allocation of the EBA Funds Today

Projects that are currently being funded by the EBA fall into the four key categories with the following allocations:

• $1.1 billion for restoration and flood risk reduction projects – such as shoreline stabilization and wetland restoration.
• Up to $650 million for open space land conservation and recreation projects.
• Up to $1.5 billion for climate change mitigation projects – such as construction of green infrastructure and renewable energy upgrades.
• At least $650 million for water quality improvement and resilient infrastructure projects – including but not limited to projects focused on drinking water, stormwater systems, and wastewater.

As of March 31, 2025, more than $1.55 billion has been allocated to certain projects and programs, with 41.5% of the funds directly benefitting disadvantaged communities.

In the climate change mitigation area, $100 million was dedicated to the Clean Green Schools Initiative, which aims to make inadequately resourced schools more energy efficient and climate resilient. Colleges are also benefiting: $150 million was given to SUNY and CUNY campuses to make these campuses greener, more resilient to severe weather, and more energy efficient.

Large scale improvements to stormwater and wastewater infrastructure have also been advanced by the EBA funds. On Long Island, towns are replacing antiquated systems and preventing nutrient pollution that fuels toxic algal blooms in nearby bays and estuaries through water quality improvement and resilient infrastructure grant funding.

How Walden Can Help

Currently, more grant opportunities are opening up. If you are interested in applying for grants that are funded by New York State’s Environmental Bond Act (EBA), Walden’s experts are available to help. We can identify the best opportunities for your needs and complete the application on your behalf. To learn more, contact us at 516-518-3705.