1 day ago · New York state was sued on Thursday over a new law requiring fossil fuel companies to contribute $75 billion over 25 years into a state fund that will pay for damage caused by climate change, West ...

1 day ago · NEW YORK (Reuters) - New York state was sued on Thursday over a new law requiring fossil fuel companies to contribute $75 billion over 25 years into a state fund that will pay for damage caused by ...

21 hours ago · Twenty-two states are suing New York, contending that a new law forcing energy companies to pay $75 billion into a fund to cover climate change damage is unconstitutional. Menu. Menu. World. ... West Virginia Attorney General JB McCuskey led the coalition of states against New York’s Climate Change Superfund Act, which requires payments for ...

Dec 26, 2024 · Legislation S.2129-B/A.3351-B creates a ‘Climate Superfund’ to support New York-based projects that bolster New York’s resiliency to dangerous climate impacts like flooding and extreme heat.

New York became the second U.S. state to create an industry-financed "superfund" to address climate change, under a law signed by Democratic Governor Kathy Hochul on December 26. Vermont's ...

Dec 26, 2024 · New York is facing staggering—and growing—climate costs. Last year alone Governor Hochul announced $2.7 billion in taxpayer funding for climate-related infrastructure repairs and upgrades and resilience projects. The U.S. Army Corps of Engineers estimates that it will cost $52 billion just to protect NY Harbor.

Early this month the State Senate passed the Climate Change Superfund Act (S.2129/A.3351), first-in-the-nation legislation that will use the polluter-pays model exemplified by existing federal and state superfund laws to collect $75 billion over twenty-five years for climate change adaptation from the parties most responsible for causing the cli...

Jul 24, 2024 · Last month, both the Senate and Assembly of the New York State legislature passed the Climate Change Superfund Act (S.02129). The Act, first introduced during the FY 2022 budget cycle, would require the largest fossil fuel companies to pay a total of $75 billion — to be paid over 25 years in $3 billion annual increments — to New York State.

May 26, 2022 · The Climate Change Superfund Act is grounded in the well-established polluter-pays principle exemplified in New York's Hazardous Waste Site Remediation Program, known as the state superfund law, and the state Oil Spill Cleanup Fund, and applies it to the greenhouse gas emissions that have destabilized the climate.

1 day ago · West Virginia and nearly two dozen other states sued New York over plans to charge fossil fuel companies $75 billion for climate change damage, saying the measure is an unconstitutional “slippery slope.” The lawsuit, led by West Virginia Attorney General JB McCuskey (R), was filed Thursday in ...