4 Feb 2025

NY Governor Signs Climate Superfund Law

by Bonnie | | 0

New York Governor Kathy Hochul signed the “Climate Change Superfund Act,” making NY the second state after Vermont to attempt to place some liability on fossil fuel companies for harms from climate change to which their products contribute.

The NY law is modeled on federal Superfund legislation. California, Massachusetts, Maryland, and New Jersey are considering similar proposals. It levies liability of $75 billion, or $3 billion each year for 25 years, divided across the involved fossil fuel producers. This funding is earmarked for a portion of the cost of infrastructure adaptations in response to climate change.

Click here for more details.

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