Vermont becomes 1st state to enact law requiring oil companies pay for damage from climate change

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Environment,U.S. News,Climate

Vermont 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.

FILE - Vermont Republican Gov. Phil Scott arrives at his polling place in Berlin, Vt., on Tuesday Nov. 8, 2022. On Thursday, May 30, 2024, – Vermont 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 sufferedRepublican Gov. Phil Scott allowed the bill to become law without his signature late Thursday.

“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 statement. “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.

Vermont legislators know that the law will face legal challenges, and the governor worries about costs to the small state. Vermont state Rep. Martin LaLonde, an attorney, said in statement that lawmakers worked closely with many legal scholars in shaping the bill.

 

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