IEEFA Releases Report on the Decline of Oil and Gas Sector’s Significance on Louisiana’s Economy
New York Passes Climate Superfund Law Requiring Polluters to Pay Their Fair Share of the Damage They Caused
Climate|January 07, 2025
New York—the state with the Nation's third-largest economy—enacted climate superfund legislation at the end of 2024, becoming the second state after Vermont to do so. This is a major victory for New Yorkers and the team of advocates, led by the New York Public Interest Research Group, that RFF organized to take on this historic legislative campaign. New York’s Climate Superfund Law arrives at a critical juncture, as 2024 closed out with the hottest year on record and the state dealt with costly wildfires, floods, and lake-effect snowstorms. The law shifts part of the financial burden of climate damages from taxpayers to the largest fossil fuel polluters. It requires responsible companies to pay $75 billion over the next 25 years into a fund that will support vital climate adaptation and resilience projects, helping New York confront the rising costs of climate change.
