" Bill that would make Vermont the first state to have a 'Climate Superfund' takes a key step forward
The #ClimateSuperfund Act directs the state treasurer to work with climate scientists to catalog the damage Vermont has seen due to #ClimateChange between 1995 and 2024 — and what it will cost to adapt to a warmer future with more volatile weather.
If the bill becomes law, #Vermont could start to seek damages in 2027."
"The state Senate is expected to give final approval this week to the proposal, which would create a program that fossil fuel companies would pay into for #ClimateChange adaption projects in Vermont. It will then be considered in the House.
Maryland, Massachusetts and New York are considering similar measures, but #Vermont’s bill is moving quicker through the Legislature. "
"#Vermont’s measure would task the state treasurer with calculating the costs of needed #climate adaptation work, as well as the damage inflicted by previous disasters such as last summer’s devastating floods.
The program would collect money from companies that emitted more than 1 billion tons of CO2 around the world from 1995 to today. Those companies with business activity in Vermont would be charged according to their percentage of global #emissions."
"The legislation — the first of its kind in the U.S. — would require companies with high emissions to help pay for destruction caused by climate-fueled extreme weather.
The law passed with just three no votes in Vermont’s state Senate in early April, followed by approval in the state House on Monday. The Senate will deliver a final vote later this week before the bill heads to Republican Gov. Phil Scott’s desk."
" 3 of the session’s largest climate bills face opposition from Phil Scott administration
The administration has expressed concerns with S.213, a bill that would establish a new state permitting system for building in river corridors, S.259, a bill that require big oil companies to pay for damages from climate change in #Vermont and H.289, a bill that would update the state’s #RenewableEnergy standard. "
At least the Rnewable Energy Standard is veto-proof" it requires 100% renewable electricity across all the state’s utilities by 2035
"H.289 was passed in both the State House and Senate today with veto-proof majorities. If Governor Phil Scott (R-VT) vetoes it, then it is expected to be overturned when the state legislature reconvenes in June for its veto override session. The bill has broad support from utilities and renewable developers."
"The #Vermont bill doesn’t outline the total amount it would seek from polluting companies.
Instead, it calls for the state treasurer to account for the costs Vermont has incurred because of #emissions from 1995 through 2024 — including future costs from those past emissions. That includes impacts from floods and heat waves, along with losses to biodiversity, safety, economic development and anything else the treasurer deems reasonable."
"This law doesn’t depend on proof of deception, or false advertising, or the campaign to sow doubt about #ClimateChange that the companies are accused of in over 30 lawsuits across the country. The companies are liable by virtue of what they do. It’s not that they’ve committed anything wrong, necessarily—”#PolluterPays” is the concept here.
The fact that your product creates carbon pollution, which is driving climate change, that’s enough to make you liable."
IT'S A LAW
"#Vermont has become the first state to enact a law requiring #FossilFuel companies to pay a share of the damage caused by #ClimateChange.
Republican Gov. Phil Scott allowed the bill to become law without his signature late Thursday, saying he is very concerned about the costs and outcome of the small state taking on “Big Oil” alone in what will likely be a grueling legal fight. "
"After a swell of grassroots pressure, the #NewYork State Assembly passed the #ClimateChangeSuperfund Act by a vote of 95-46, to make fossil fuel polluters pay for costs associated with climate change, including climate resiliency projects. The Senate passed the bill in May; it now requires Governor Hochul’s signature to become law."
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