Yesterday, New York Governor Kathy Hochul announced funding of $6.5 million dollars to help support innovation for Climate-Technology Solutions. The new program is aimed at focusing research and development of new insurance policies and products that will then promote adaptations of clean technologies across the state.
“New York State is leaving no stone unturned in our fight against climate change, and that includes investing in industries that will develop and advance clean, green technologies,” Governor Hochul said. “By promoting innovative policies that will create more sustainable climate technology, we are taking bold action to meet the challenges of climate change. My administration remains laser focused on supporting key initiatives that will benefit both businesses and consumers while contributing to our State’s nation-leading climate efforts.”
The new program will now provide funding for products that will manage the financial risk associated with climate change and support the state’s Climate Leadership and Community Protection Act goals of reducing carbon emissions by 85% by 2050.