The Vermont Legislature recently approved a bill that targets major fossil fuel companies to pay for weather-related damages caused by climate change. This law, inspired by the Superfund program of the Environmental Protection Agency, mandates that companies responsible for environmental pollution must clean up the site themselves or reimburse the government for cleanup costs. The bill, named the Climate Change Superfund Act, also requires major oil and high-emission companies to compensate for damages caused by global warming.
The amount to be paid will be determined based on calculations of how climate change has contributed to extreme weather events in Vermont and the damage caused by these disasters. Each company’s share will be determined by the amount of carbon dioxide they released into the atmosphere from 2000 to 2019.
The bill passed in the Vermont Senate with a narrow margin in April and was approved by the state House of Representatives. It is expected to go to Republican Governor Phil Scott’s desk for final approval. Co-sponsor of the bill, State Sen. Ann Watson, believes that this law will push big oil companies to transition to sustainable energy sources and reduce reliance on fossil fuels.
This groundbreaking legislation is the first of its kind in the United States. While other states like Massachusetts, Maryland, and New York are also considering similar measures, Vermont’s bill has made substantial progress in the legislative process. Senators Bernie Sanders and Chris Van Hollen have expressed interest in introducing similar legislation at the federal level as part of infrastructure bills.
Revenue collected from fossil fuel companies under this law will be allocated towards enhancing infrastructure, weatherizing buildings, and addressing the impacts of climate change on public health. The success of the bill hinges on accurate assessments of climate change impacts in Vermont through studies known as attribution science.
Scientists like Andrew Pershing have linked heavy rainfall events to a warming atmosphere, which Vermont has experienced, leading to severe flooding in the state. The extremely warm winter and heavy rainfall have underscored the need for proactive measures to tackle climate change and its consequences.
Opponents of the bill, like Republican State Sen. Russ Ingalls, fear that it could result in lengthy and costly litigation against large corporations. The American Petroleum Institute has voiced concerns about the bill, arguing that it infringes on corporate rights and due process.
Despite opposition, supporters of the bill remain confident in its scientific foundation and its potential to shift the burden of climate change costs away from Vermont residents. If signed into law, the bill will require companies to take responsibility for their environmental impact and contribute towards mitigating climate change effects in the state.
Should Governor Scott decide to veto the bill, it would need to pass through the Legislature again with supermajorities in both chambers to override the veto, a process that has been successfully accomplished in the past against gubernatorial vetoes.
Source: www.nbcnews.com
