New York Governor Kathy Hochul Signs Climate Change Superfund Act, Requiring $75 Billion from Fossil Fuel Companies for Damages

Dec 26, 2024, 04:58 PM

New York Governor Kathy Hochul has signed the Climate Change Superfund Act into law, requiring fossil fuel companies to contribute $75 billion for climate change damages. This legislation is seen as a significant victory for environmental activists and a potential challenge for energy companies, as it opens avenues for litigation against those deemed responsible for climate-related harm. The law aims to hold these companies accountable for their role in the climate crisis, with Hochul's approval message indicating that while some adjustments may occur, the core principles of the bill remain unchanged. Representative Jerry Nadler expressed his support for the legislation, noting the need for the fossil fuel industry to pay for the damages it has caused.