Vermont Governor Phil Scott allowed the Climate Superfund Act to become law without his signature. Vermont became the first state in the nation to pass a law requiring major fossil fuel companies to pay for damage caused by climate change. Governor Scott expressed concerns about the law’s short- and long-term outcomes, stating that taking on ‘Big Oil’ should not be taken lightly.
He noted that with only $600,000 allocated by the Legislature for an analysis that will face intense legal scrutiny, success may be challenging. Governor Scott also expressed fear that failing in a legal challenge could set a precedent that hampers other states’ ability to recover damages. However, he acknowledged the need for funding to address the effects of climate change in the state.
The bill seeks a cost recovery demand for emissions produced between 1995 and 2024, with penalties based on various factors such as public health, natural resources, and economic development. Any payments received would fund climate change adaptive or resilience projects in Vermont.
Lauren Hierl of Vermont Conservation Voters praised the bill for preventing taxpayers from bearing the full burden of climate change costs. State Rep. Martin LaLonde, chair of the House Judiciary Committee, emphasized the importance of holding corporations accountable for their role in addressing climate change.
Concerns have been raised about the legislation, with the American Petroleum Institute opposing it on grounds of potential unconstitutionality. The World Health Organization has highlighted the impact of carbon emissions on weather patterns and the resulting humanitarian emergencies.
Overall, Vermont’s Climate Superfund Act represents a significant step towards holding fossil fuel companies accountable for their contribution to climate change. Please rewrite this sentence.
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