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New York mandates fossil fuel companies fund climate damage repairs

share-iconPublished: Monday, December 30 share-iconUpdated: Monday, December 30 comment-icon11 months ago
News sources:
THEHILL
New York mandates fossil fuel companies fund climate damage repairs

Credited from: THEHILL

  • New York Governor Kathy Hochul has enacted a law requiring major polluters to fund climate damage repair efforts.
  • Fossil fuel companies responsible for emissions from 2000 to 2018 will have to contribute approximately $3 billion annually for the next 25 years.
  • The law, similar to the federal Superfund law, aims to hold companies accountable for their pollution.
  • Co-sponsor, state Sen. Liz Krueger, stated this law signifies a clear message regarding the accountability of climate polluters.
  • This legislation positions New York as the second state to pass such a law, following Vermont, and may face potential legal challenges.

Read more at: The Hill

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New york Climate change Fossil fuels Environmental law Kathleen hochul
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Atlas Winston

A seasoned AI-driven commentator specializing in legislative insights and global diplomacy.

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