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A6 U.S. NEWS
Monday 6 January 2020

California eyes climate bond to prepare for disasters

By ADAM BEAM "There are existing dollars in
SACRAMENTO, CAlif. (AP) government that I think we
— In a state burdened by could just better target," he
billions of dollars in wildfire said.
damage, California law- Other proposals in legisla-
makers are hoping for an tive limbo include a contro-
advance loan before the versial bill by Sen. Scott Wie-
next climate-fueled catas- ner to boost housing den-
trophe hits. sity near public transporta-
Lawmakers in the Dem- tion by allowing apartment
ocratic-dominated state buildings in areas currently
Legislature return to work zoned for single-family
Monday for the second homes. Atkins said Wiener
year of a two-year session. is working on some amend-
Their to-do list includes a ments around "local flexibil-
$4.2 billion climate bond, ity" that she said might help
an ambitious proposal to the bill make it through the
borrow money before they Senate.
need it to prepare for the If it does, it could find a re-
types of natural disasters ceptive audience in the
that have plagued the Assembly.
state. The disasters are so "I don't like to comment on
destructive they forced the In this Aug. 28, 2019 file photo supporters of a measure to limit when companies can label workers pending legislation, but I
nation's largest utility, Pacif- as independent contractors circle the Capitol during a rally in Sacramento, Calif. definitely think there is val-
ic Gas & Electric, to file for Associated Press ue in increasing housing
bankruptcy last year. density along certain cor-
The borrowing proposal is risk throughout the state. It because the state has bor- aimed at protecting the ridors," Assembly Speaker
one of dozens of holdover also includes money to pro- rowed so much money in environment. Anthony Rendon said.
bills from last year that are tect farmland from climate recent years that officials "I think if members of the Potentially overshadowing
still alive in 2020 but must change, bolster the state's are having trouble spend- public know that this mon- pending legislation is the
pass at least one legisla- scarce water sources and ing it all. Of the $150 billion ey is going to issues around fate of Pacific Gas & Elec-
tive chamber by the end of help coastal communities in borrowing authorized by climate change, they care tric Co., the nation's largest
January to have a chance plan for sea level rise. voters in recent years, more about that," Atkins said. electric utility, which filed
at becoming law. The log- The $4.2 billion price tag than $34 billion has yet to Some Republicans are for bankruptcy after facing
jam is complicated by could grow as lawmak- be spent. skeptical, including Assem- up to $30 billion in poten-
an accelerated election ers discuss adding more "We cannot spend money blyman James Gallagher, tial damages from wildfires
cycle that puts many law- projects for things like buy- until projects are ready," whose district includes the started by its equipment.
makers on primary election ing solar batteries and fuel state Treasurer Fiona Ma town of Paradise, which Democratic Gov. Gavin
ballots in March instead of cells to keep the lights on said. "Sometimes it takes 10- was mostly destroyed in the Newsom has suggested a
June, making it less likely for at nursing homes and other plus years to spend money deadly 2018 Camp Fire. potential state takeover if
politically risky proposals to vulnerable sites when utility that is authorized in a bond Instead of borrowing more, the troubled utility cannot
advance. companies preemptively act." Gallagher said the state emerge from bankruptcy
"We have kind of a perfect shut off electricity to pre- Plus, voters will be asked in should use some of the bil- before the next wildfire sea-
storm," said veteran Demo- vent wildfires during windy March to borrow another lions of dollars generated son. But legislative leaders
cratic political consultant conditions. $15 billion to build more every year by its cap-and- have balked at that idea.
Andrew Acosta. "We've been really good public schools, increasing trade system to reduce Atkins said she has con-
Catastrophic wildfires have about investing in suppres- the chances of spending wildfire fuel by better man- cerns about doing any-
destroyed thousands of sion — in other words, fire- fatigue — especially as aging forests. He also wants thing that lets PG&E off the
homes, generating bil- fighters and helicopters," California's economy con- to temporarily block a state hook.
lions of dollars in insurance said Democratic Sen. Hen- tinues to grow, producing law that requires utilities to "Then it just transfers the lia-
claims and costing taxpay- ry Stern. "We haven't done record budget surpluses. buy more expensive solar bility to the ratepayers and
ers billions more in cleanup that good of a job in pre- Supporters in the Legisla- and wind power and up- the taxpayers," Atkins said.
costs. The bulk of the bor- vention." ture, including Senate Pres- grade their equipment to "Isn't that what we are try-
rowing proposal, detailed Passing the Legislature ident Pro Tem Toni Atkins, make it less likely to spark ing to avoid?"
in similar efforts authored would be the just first step recognize the potential wildfires during windstorms. Other topics generating
by Democrat Ben Allen for the climate bond be- peril of asking the public to Gallagher questioned interest include proposals
in the Senate and Demo- cause California can't bor- add to the state's debt. But whether borrowing is the addressing housing and
crat Eduardo Garcia in row the funds unless voters they believe residents of best practice "considering homelessness, which Re-
the Assembly, would go approve it. Voters could climate-conscious Califor- the amount of debt we publican leaders in both
toward reducing wildfire be weary of more bonds nia will embrace borrowing have right now." houses say are key goals.q