Vermont Breaks Ground: Fossil Fuel Giants Now Liable for Climate Damages.

Published on 14 June 2024 at 12:54

The first law in the country forcing fossil fuel firms to compensate for damages caused by climate change was passed in Vermont. The "Climate Superfund Act" was approved by a Democratic supermajority in the Legislature, and Republican governor Phil Scott let it become law without his signature. The bill, which is based on the EPA's superfund program, requires large polluters to pay for damages caused by weather disasters that are made worse by climate change. Based on each company's carbon emissions from 2000 to 2019, payments will be computed. Although Governor Scott voiced worries over possible legal challenges, proponents of environmental justice hailed the bill as a major advancement in the prosecution of polluters. The money will go toward public health programs, weatherproofing, storm cleanup, and infrastructure improvements. Similar laws are being considered by other states.

 

References:

Barrett, M., & Thompson, L. (2024a, May 31). Vermont mandates that fossil fuel companies pay for climate damages. NBCNews.com. https://www.nbcnews.com/science/environment/vermont-law-fossil-fuel-companies-pay-climate-damages-rcna154964 

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