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How will Vermont's climate law impact the profitability of fossil fuel companies by the end of 2024?
5
Resolution / Starting Odds
Profitability significantly decreases • 25%
Minor decrease in profitability • 25%
No impact on profitability • 25%
Profitability increases • 25%
Publicly disclosed financial statements and earnings reports
Story
Vermont Enacts First U.S. Law: Fossil Fuel Firms to Pay for Climate Damage, Sanders Applauds
May 8, 2024, 08:18 PM
Vermont has enacted a pioneering 'Climate Superfund' law, becoming the first state in the U.S. to mandate that fossil fuel companies pay for damage caused by climate change. This landmark legislation requires companies with high emissions to contribute financially to the state for destruction linked to climate-fueled extreme weather. Senator Bernie Sanders praised the bill, stating it forces the fossil fuel industry to pay for decades of environmental destruction for profit. The bill, which has been a subject of heated debate, reflects a significant shift in climate liability.
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ExxonMobil • 25%
Chevron • 25%
BP • 25%
Shell • 25%
None • 33%
1 to 5 • 34%
More than 5 • 33%
Yes • 50%
No • 50%
Less than $200 million • 33%
$200 million to $500 million • 34%
More than $500 million • 33%
Profitability decreases • 25%
No significant change in profitability • 25%
Profitability increases • 25%
Mixed results across the sector • 25%
New climate legislation passed • 25%
Existing climate laws strengthened • 25%
No significant change in climate laws • 25%
Climate laws weakened • 25%
Increase in overall profitability • 33%
No significant change in profitability • 33%
Decrease in overall profitability • 34%
Increase in profitability • 25%
No change in profitability • 25%
Decrease in profitability • 25%
Significant loss • 25%
Less than $100 million • 25%
$100 million - $500 million • 25%
$500 million - $1 billion • 25%
More than $1 billion • 25%
Increase • 33%
Decrease • 33%
Remain the same • 34%