ALBANY — Gov. Kathy Hochul on Thursday approved the Legislature’s bill to require major polluters who have contributed to global warming to pay $75 billion for repairs from superstorms and other remediation forced by climate change that has so far been paid by taxpayers.
Supporters consider the effort to make polluters accountable one of the state’s most ambitious environmental efforts. But they also expect a fight in court from some of the nation’s largest energy producers.
“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,” said state Sen. Liz Krueger (D-Manhattan), a sponsor of the bill.
“Repairing from and preparing for extreme weather caused by climate change will cost more than half a trillion dollars statewide by 2050,” Krueger said. “The Climate Change Superfund Act is a critical piece of affordability legislation that will deliver billions of dollars every year to ease the burden on regular New Yorkers.”
The bill states that science can now effectively identify the production of greenhouse gases from pollution with its sources. That would be the basis of assessing fees on corporations.
Hochul said the bill “will put the responsibility on polluting entities to pay for the damages they have knowingly caused, so that everyday New Yorkers are not left with the bill.”
Michael Gormley has worked for Newsday since 2013, covering state government, politics and issues. He has covered Albany since 2001.