On Thursday, Governor Kathy Hochul signed landmark legislation to bolster New York’s efforts to protect and restore the environment by requiring large fossil fuel companies to pay for critical projects that protect New Yorkers. Legislation S.2129-B/A.3351-B creates a ‘Climate Superfund’ to support New York-based projects that bolster New York’s resiliency to dangerous climate impacts like flooding and extreme heat.
“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,” Governor Hochul said. “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.”
According to the Governor’s Office, this legislation shifts the cost of climate adaptation from everyday New Yorkers to the fossil fuel companies most responsible for the pollution. By creating a Climate Change Adaptation Cost Recovery Program, this law ensures that these companies contribute to the funding of critical infrastructure investments, such as coastal protection and flood mitigation systems, to enhance the climate resilience of communities across the state.
New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “Holding polluters accountable for the damages they cause is essential to New York’s environmental protection efforts, and I commend Governor Hochul for signing this historic climate legislation into law. By ensuring those responsible for historic climate-altering emissions bear the costs of the significant health, environmental, and economic impacts already being passed on to New Yorkers, this law will complement the State’s efforts to reduce greenhouse gas emissions, help communities adapt to the climate-driven impacts experienced today, and leverage the significant investments the Governor is making in climate resilience.”
Have all the Finger Lakes news from Finger Lakes News Radio delivered to your email every morning for FREE! Sign up by clicking here
