New York to charge fossil fuel companies for damage from climate change

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Climate Change Noticias

Kathy Hochul,New York,Liz Krueger

Large fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed by Democratic Gov. Kathy Hochul. The governor signed the new law Thursday.

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Lawmakers approved the bill earlier this year to force big oil and gas companies to contribute to the cost of repairs after extreme weather events and resiliency projects such as coastal wetland restoration and upgrades to roads, bridges and water drainage systems. “The Climate Change Superfund Act is now law, and New York has fired a shot that will be heard round the world: the companies most responsible for the climate crisis will be held accountable,” said state Sen. Liz Krueger, a Democrat who sponsored the bill.

“The planet’s largest climate polluters bear a unique responsibility for creating the climate crisis, and they must pay their fair share to help regular New Yorkers deal with the consequences,” Krueger said.Ireland embraced data centers that the AI boom needs. Now they’re consuming too much of its energyThe law won’t start penalizing companies immediately.

“This type of legislation represents nothing more than a punitive new fee on American energy, and we are evaluating our options moving forward,” the American Petroleum Institute, the oil industry’s top lobbying group, said in a statement.

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