Reported 1 day ago
New York state has enacted a law that will impose $75 billion in fines on fossil fuel companies over the next 25 years to address climate change damages. Signed by Governor Kathy Hochul, the law shifts recovery costs from taxpayers to oil, gas, and coal companies deemed liable for greenhouse gas emissions. Funds raised will support infrastructure adaptations against climate impacts, with determinations based on emissions from 2000 to 2018. This makes New York the second state to pass such legislation, following Vermont.
Source: YAHOO