The Vermont Senate voted 21-5 Friday to advance the bill. Climate Change Superfund ActThis would force fossil fuel companies to pay into a fund that covers damages related to weather events.
If passed, Senate Bill 259 would create a “Climate Superfund Cost Recovery Program” to fund “climate change adaptive or resilient infrastructure projects” in Vermont.
“Under this program, any entity or person who inherits an interest in an entity that engaged in the trade or business of extracting fossil fuels or refining crude oil between January 1, 2000 and December 31, 2019 , the cost recovery requirements for the entity will be assessed. The company’s share of fossil fuel extraction or refining that contributes to greenhouse gas-related costs in Vermont. The greenhouse gas emissions to which the company’s products are subject. A company would only be assessed for cost recovery claims if the agency determines that it is responsible for more than 1 billion tons of
The fund will help “avoid, mitigate and remediate the negative impacts caused by climate change,” including “the introduction of nature-based solutions and flood protection, upgrades to stormwater drainage systems, and defensive upgrades to roads, bridges and railways.” , or to adapt. , transportation systems, extreme weather preparedness and recovery, implementing preventive health programs, and providing medical care to treat illnesses and injuries caused by the effects of climate change. ”
Additionally, the program will cover costs such as relocating sewage treatment plants, installing cooling systems in public and private buildings, upgrading the state’s power grid, addressing toxic algae blooms, and managing topsoil loss. Masu.
The bill is sponsored by Sen. Ann Watson (D), Sen. Dick Sears Jr. (D), Sen. Christopher Bray (D), and 17 other Democratic senators.
According to Sears, the law is “built on the long-standing principle that polluters pay.” mountain times report.
“The harm that fossil fuels are causing to our communities continues to grow, and last year alone floods caused significant damage to our state,” Sears argued.
Sen. Nader Hashim (D) told lawmakers Friday that “we cannot solve the problems caused by washed-out roads, downed power lines, damaged crops, and repeated flooding that are contributing to climate change.” The biggest fossil fuel companies should also contribute.” It’s about solving the problems they caused. ”
“We can put the burden on Vermont taxpayers, we can sit back and wait for the federal government to help us, or we can make fossil fuel companies pay their share,” Hashim said. Ta.
Under the bill, the Vermont State Treasurer would report a report detailing the costs imposed on residents as a result of “greenhouse gas emissions for the period beginning January 1, 2000 and ending December 31, 2019.” I am scheduled to submit a document. The report will assess the impact of fossil fuels on public health, natural resources, agriculture, economic development, and flood preparedness.
The American Petroleum Institute said in a letter to the state Senate last week that it opposes the bill and shares its opposition. Associated Press report.
The group said the bill “imposes retroactive costs and liability on previously legal activities, violates the equal protection and due process rights of holding companies accountable for the actions of society as a whole, and violates federal law.” We are concerned that this will be a preemptive move.”
“Furthermore, the bill provides no notice to potentially affected parties of the size of the fees that its passage may result in,” API added.
Similar bills have been introduced in Maryland, Massachusetts, and New York.
ExxonMobil did not respond to requests for comment from The Associated Press.
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