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What will be the major response of fossil fuel companies to Vermont's climate law by mid-2024?
4
Resolution / Starting Odds
No change in operations • 25%
Minor operational adjustments • 25%
Significant investment in renewable energy • 25%
Reduction in operations within Vermont • 25%
Company press releases, official statements, and sustainability 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%
Yes • 50%
No • 50%
None • 33%
1 to 5 • 34%
More than 5 • 33%
Increase in sustainability initiatives • 33%
No significant change in operations • 33%
Increase in lobbying activities • 34%
Adopt new technologies • 33%
Increase investment in renewable resources • 33%
Legal opposition • 34%
Less than $200 million • 33%
$200 million to $500 million • 34%
More than $500 million • 33%
Upheld • 33%
Overturned • 33%
Partially Upheld • 34%
Adaptive changes in corporate policies • 25%
Legal challenges • 25%
Public relations campaigns • 25%
No significant response • 25%
Shutting down plants • 25%
Investing in emission-reducing technologies • 25%
Legal action against regulations • 25%
Seeking policy amendments • 25%