Supporters of Question 5 — a ballot initiative that would approve $55 million in state borrowing to fund various environmental, climate resiliency, and open space initiatives throughout Rhode Island; known year-to-year as the “Green Bond” — gathered at the Looff Carousel in Riverside on Monday to rally support ahead of the election on Nov. 3.

“The key words about the 2026 Green Bond really come down to two things. One is investment, and the second one is leverage,” said Rhode Island Department of Environmental Management (RIDEM) Director, Terry Gray. “So when you talk about investment, every element of this bond is about investment in Rhode Island's future.”

What’s in the bond?

The $55 million bond would help support various environmental endeavors, including:

• $25 million to support the “Resilient Rhody Infrastructure Fund”. Administered by the Rhode Island Infrastructure Bank, the fund would provide matching grants of up to 75% for projects that address things like flooding, coastal erosion, stormwater management, and increasing green spaces in urban environments.
• $12 million to make improvements to state beaches, parks, and campgrounds, which generate $312 million of economic output and supports over 3,700 jobs, according to a fact sheet provided by DEM.
• $7 million to provide matching grants to public and private entities who seek to embark on projects that improve or restore Narragansett Bay and its watersheds. Eligible projects would include improving stormwater management, installing green infrastructure, restoring streams and aquatic habitats, controlling invasive aquatic plants, reducing pollution runoff, and reducing flood risks.
• $3 million to fund matching grants for developers that seek to build on former industrial sites, or “brownfields”.
• $3 million to the state’s Agricultural Lands Preservation Commission to protect and preserve farmland across the state.
• $3 million to preserve and protect open space through the State Land Acquisition Program.
• $1 million to the Recreation Grant Program to support communities improving or creating new parks, playgrounds, athletic fields and other recreational opportunities.

Saving the planet, and money

Gray said that it was no coincidence that the largest component of the bond this cycle went towards helping fund resiliency projects throughout the state.

“When you look at the impacts that the Ocean State is experiencing right now, we are on the front lines of climate change,” he said. “Anybody that took a walk down to the beach on Saturday and Sunday will see what that means. We're dealing with more frequent, more intense weather events across Rhode Island, and we need to prepare the state for those for those impacts that are certainly coming our way.”

Anthony Hebert, Business Development Officer for the Rhode Island Infrastructure Bank, echoed that sentiment.

“Since 1958, there's been a 60% increase in extreme weather events in New England. That's the largest of any region around the country,” he said. “We're facing the reality that our infrastructure is aging and that infrastructure was a built for a climate that no longer exists.”

Hebert added that the investment was a smart one for Rhode Island in the long run.

“For every $1 spent on climate resilience adaptation today, we save $6 on future disaster recovery costs,” he said.

Rep. Megan Cotter (D-Dist. 39 - Exeter, Hopkinton, Richmond) reasoned that an investment in Rhode Island’s environment and green spaces was an acknowledgement of the state’s most vital resources; and that doesn’t just mean the water.

“We are the Ocean State, and our identity and economy is so reliant on having clean, beautiful, accessible beaches. But more than half of our state is forested; 53% to one exact. That’s a lot,” she said. “Healthy green spaces, and water are so important. We enjoy them. And if COVID taught us anything, people like to go out and walk our trails and enjoy our beautiful spaces.”

Similar to Hebert, Cotter added that dollars spent on the environment in Rhode Island were wise dollars spent.

“The Green Bond funds that basic necessity while also improving the quality of life all over Rhode Island, and boosting our economy. It’s a very smart investment,” she said. “Every dollar that goes into land conservation in New England yields between $4 and $11 from natural goods and services.”

Mayor Bob DaSilva said that past Green Bonds have contributed positively in various ways to the city, including a resiliency project occurring right across the street from the Carousel at the Crescent Park Beach seawall, where a second phase is about to be underway. Additionally, he said the city has received multiple grants to help restore and improve parks throughout the city.

“This is a type of investment that benefits people and future generations throughout the the state,” he said.

Senator Louis DiPalma (D-Dist. 12 - Middletown, ​Little Compton, Newport, Tiverton), said that the three foundational questions he asks himself as the Chairman of the Senate Committee on Finance when considering whether or not to support a bond initiative were, “Do we need it? Do we want it? Can we afford it?”

“Those are the three basic questions. Everything else is superfluous,” he said. “The answer to all of those questions is yes, yes, and yes.”

Multiple speakers said that Rhode Islanders have, time and time again, overwhelmingly approved Green Bond initiatives in recent elections, and they urged voters to once again invest in that cause.

“The Green Bond is always something that overwhelmingly passes in every community,” Rep. Cotter said. “I urge you to all to find one other thing that every community can agree on.”