Vermont Becomes First State to Force Oil Companies to Pay for ‘Climate Change’

Vermont’s Republican governor has allowed the state to become the first to require oil companies to pay for “costs associated with climate change” without his signature, pushing the law through despite his hesitation about the policy., passed by Gov. Phil Scott on Thursday, will establish a method to assess the responsibility for greenhouse gas-related costs of any entity that was engaged in extracting fossil fuel or refining crude oil between December 31, 2019, and January 1, 2000.

“Instead of coordinating with other states like New York and California, with far more abundant resources, Vermont — one of the least populated states with the lowest GDP in the country — has decided to recover costs associated with climate change on its own,” the governor said. He went on to argue the state is “not positioning ourselves for success” with just $600,000 appropriated by the legislature to complete an analysis that will need to withstand “intense legal scrutiny from a well-funded defense.”“I’m deeply concerned about both short- and long-term costs and outcomes,” he feared. “Just look at our unsuccessful nationally-focused cases on GMOs, campaign finance and pharmaceutical marketing practices.

“For too long, giant fossil fuel companies have knowingly lit the match of climate disruption without being required to do a thing to put out the fire,” Paul Burns, executive director of the Vermont Public Interest Research Group, said in a. “Finally, maybe for the first time anywhere, Vermont is going to hold the companies most responsible for climate-driven floods, fires and heat waves financially accountable for a fair share of the damages they’ve caused.

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Vermont becomes 1st state to enact law requiring oil companies pay for damage from climate changeVermont has become the first state to enact a law requiring fossil fuel companies to pay a share of the damage caused by climate change after the state suffered catastrophic summer flooding and damage from other extreme weather.
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