The Climate Change Superfund Act, signed into law by Governor Kathy Hochul on Dec.26, 2024, holds climate polluters – big oil and gas companies – responsible to pay $75 billion over 25 years for costs incurred by climate damages in New York State. While these climate damage bills have been piling up for taxpayers, the industry responsible for this situation has made $1 trillion in profits from 2021 to the present. A recent poll indicated that “a whopping 89% of New Yorkers support fossil fuel companies covering some of the costs for climate damages. “
In signing the bill, Gov. Hochul stated:
“With nearly every record rainfall, heatwave, and coastal storm, New Yorkers are increasingly burdened with billions of dollars in health, safety, and environmental consequences due to polluters that have historically harmed our environment. Establishing the Climate Superfund is the latest example of my administration taking action to hold polluters responsible for the damage done to our environment and requiring major investments in infrastructure and other projects critical to protecting our communities and economy.” Gov. Hochul
It was through the efforts of hundreds of climate activists across the state that brought this Superfund Act into law – this through many letters, petitions, personal visits to legislators, rallies, protests, prayers, sit-ins, etc. over the last few years. It passed the NYS Senate in June 2023 and the NYS Assembly in June 2024
