When your children make a big mess at home, it's their responsibility to clean up after themselves so nobody else in the house has to deal with it. And so they learn to clean up after themselves in the future.
In New York, dirty energy companies are about to learn the same lesson.
Gov. Kathy Hochul recently signed state legislation that creates a Superfund paid for by dirty energy companies to support efforts to harden New York against the effects of climate change. Funds from the Climate Change Adaptation Cost Recovery Program will go toward infrastructure improvements like coastal protection and flood mitigation systems in New York.
Until now, those costs have been borne by the taxpayers in the state. Not anymore.
"With nearly every record rainfall, heatwave, and coastal storm, New Yorkers are increasingly burdened with billions of dollars in health, safety, and environmental consequences due to polluters that have historically harmed our environment," Gov. Hochul said in a release.
"Establishing the Climate Superfund is the latest example of my administration taking action to hold polluters responsible for the damage done to our environment and requiring major investments in infrastructure and other projects critical to protecting our communities and economy."
According to Bloomberg, the state's biggest polluters will have to pay $75 billion over 25 years to fund the program. Supporters of the bill say that even that amount is small potatoes compared to the estimated cost an overheating planet poses to the state over the next two decades.
Vermont has also passed a similar Superfund law.
"New York State is on the leading edge of polluter pays legislation, redirecting corporate profits into public coffers, and investing in the climate resiliency efforts we need to survive worsening climate chaos," Eric Weltman, Senior New York Organizer for the watchdog group Food & Water Watch, said in a statement.
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Definitely 👍 "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," State Sen. Liz Krueger added.
Perhaps this will spur dirty energy companies to transition to clean energy more quickly in the coming years. Even if it doesn't, it at least helps shift the burden to those most responsible for carbon emissions — the dirty energy industry.
Analysts expect legal challenges to the bill from dirty energy companies. But it's a big step in the right direction.
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