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

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

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

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.

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