Vermont has passed a first-in-the-nation law that will require 'Big Oil' to pay for damage caused by climate change, the long-term shift in weather patterns that is heavily influenced by fossil fuel emissions. Vermont Gov. Phill Scott sent a letter to the state's General Assembly on Thursday allowing the measure, which proposes to establish the Climate Superfund Cost Recovery Program, to become law without his signature.
Entities would only be required to pay if the Agency determines that their products emitted more than 1 billion metric tons of greenhouse gases from January 1, 1995 to December 31, 2024. The money gathered through this process would then be put into the superfund, which will be used to help the state adapt to climate change and develop more climate change-resilient infrastructure. New York, California, Massachusetts and Maryland are also considering similar legislation.
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