1 day ago · 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 ...

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 ...

1 day ago · Liz Krueger, the New York state senator who was the lead sponsor of the Superfund Act, said that the law’s purpose is holding polluters accountable for their role in extreme weather disasters ...

5 hours ago · ALBANY, N.Y. (AP) — Twenty-two states, including North Dakota, sued New York on Thursday, contending a new law forcing a small group of major energy producers to pay $75 billion into a fund to cover climate change damage is unconstitutional. The lawsuit, filed in Albany, lists state Attorney General Letitia James and other officials as defendants.

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.

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.

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.

Jan 11, 2025 · After years of halting progress, New York Governor Kathy Hochul finally signed the state’s climate superfund into law in the waning hours of 2024.

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...

Jan 17, 2025 · On December 26, 2024, New York Governor Kathy Hochul signed the Climate Change Superfund Act (“CCSA” or the “Act”) into law. The law requires certain fossil fuel producers and refiners with sufficient connections to New York to pay into a state “climate Superfund” an amount commensurate with the entity’s past global greenhouse gas (“GHG”) emissions over an eighteen-year period.