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New York state climate law makes polluters pay
New York Gov. Kathy Hochul signed a bill into law empowering the state government to levy heavy fines on fossil fuel companies. The fines will go to a “superfund” that pays for addressing environmental damages caused by human-driven climate change. The Climate Change Superfund Act creates an adaptation cost recovery program which will be paid for by fossil fuel companies and is estimated to raise $75 billion over 25 years. Climate change is expected to cost New York taxpayers half a trillion dollars in repair and preparations for extreme weather between now and 2050. (Photo of East River Power Plant, New York City, via Wikimedia Commons)